The Peterson Institute and the Asian Development Bank (ADB) cohosted a meeting on April 25, 2011, to assess the accomplishments of the G-20 summit in Seoul in November 2010. PIIE Director C. Fred Bergsten led the discussion along with Dr. Iwan J. Azis, Head of the Asian Development Bank's Office of Regional Economic Integration (OREI). Azis was previously a Professor at Cornell University and Chairman of the Department of Economics at the University of Indonesia.
The ADB and the Institute released their joint report entitled "Asia's Strategic Participation in the Group of Twenty for Global Economic Governance Reform" at the meeting. The joint report calls for increased exchange rate flexibility in large surplus countries, additional measures beyond the bank capital and liquidity requirements announced by the Basel Committee on Banking Supervision, a doubling of IMF resources, formation of a Wise Men's group on trade policy to name and shame protectionist actions, and additional measures to strengthen financial systems in developing countries.
Report: Reshaping Global Economic Governance and the Role of Asia in the Group of Twenty (G20) [pdf]
Presentation: Asia's Perspectives on Rebalancing and OREI Research [pdf]
Iwan J. Azis
April 25, 2011