The United States after unipolarity: the United States and international economic governance

Among the unexpected outcomes of the global financial crisis of 2008-9 has been the end of the domination of international economic governance by the U.S.US and other upperincome countries through the forum of the G7, and its replacement by the G20. The depth and breadth of the economic contraction required a broader response than the advanced economies alone could provide, and its origin in financial markets in the United States undermined its support for neoliberal policies. Now that the global crisis has passed, the G20 must demonstrate whether it can serve as an effective forum for monitoring and managing the global economy.