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Summits and Growth, Part I

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Matthew Denhart

The G-20 is well-suited to help restore global economic growth, but the group needs stronger legitimacy. That's the case laid...

The G-20 is well-suited to help restore global economic growth, but the group needs stronger legitimacy. That's the case laid out by James K. Glassman and Alex Brill last week in the Wall Street Journal. Glassman is the founding executive director of the Bush Institute, and Brill is a research fellow at the American Enterprise Institute. To provide legitimacy, the focus should be on creating new admission standards. Glassman and Brill argue that the criteria should focus on three main factors: a country's global economic size and importance, its adherence to free-market principles, and the global interconnectedness of its financial system. By these measures, Argentina, Indonesia, Mexico, and Russia would lose their membership, while Switzerland, Singapore, Norway, and Malaysia would become new members. You can read the entire Op-Ed here.