Asia's Strategic Participation in the G-20 for Global Economic Governance Reform
Release meeting for a joint report [pdf] of the Asian Development Bank and the Peterson Institute for International Economics
Iwan J. Azis, Asian Development Bank’s Office of Regional Economic Integration
C. Fred Bergsten, Peterson Institute
Peterson Institute for International Economics, Washington, DC
April 25, 2011
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.