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Second G-20 Summit : Evaluation and Prospects

Second G-20 Summit : Evaluation and Prospects

Second G-20 Summit : Evaluation and Prospects

Second G-20 Summit: 
Evaluation and Prospects
 
April17, 2009 
LEE Dong Hwi 
Professor 
Dept. of Int’l Economy & Trade Studies 
The second Group of Twenty 
(G-20) summit, held in 
London on April 2, 2009, 
closed the gap among and 
dispelled concerns on the 
part of member states—made manifest 
prior to the summit—by examining 
the status of the implementation of 
the agreements hammered out at the 
first G-20 summit in Washington, DC 
on November 15, 2008 and charting a 
more concrete plan of action.
By reaching a consensus on 
holding the next summit by the end 
of 2009, G-20 member states laid the 
groundwork for institutionalizing 
the forum; however, the date and 
location of the third summit have yet 
to be officially confirmed. If the G-20 
is to be established as a system-management mechanism solid enough 
to replace the G-7/G-8, the group as 
a whole should make a transition 
IFANS BRIEF 2009 
-10 3
from its ad hoc status and introduce 
firm operational principles. Hence, it 
remains highly uncertain whether the 
G-20 summit process can interchange 
with the G-7/G-8 smoothly and 
positively.

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KOR