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James K. Glassman on G-20 Admission Standards

Article by Hannah Abney June 21, 2012 //   2 minute read

In this week’s Wall Street Journal op-ed “The G-20 Needs Better Admissions Standards”, Bush Institute Executive Director James K. Glassman, with co-author Alex M. Brill, research fellow at the American Enterprise Institute and policy director and chief economist of the House Ways and Means Committee, discusses the need for admissions standards to the G-20 and what those standards should be. The Group of 20 met earlier this week in Mexico with three objectives, to “restore global growth, strengthen the international financial system, and reform financial institutions”. Arguing that admissions standards “will help the G-20 strengthen its legitimacy”, Glassman and Brill outline what the membership criteria should be according to their recent study, sponsored by the National Taxpayers Union. They point out previous admission standards, “based loosely on country size, but politics were clearly a factor too”, have “diminished international trust in the G-20's decisions and activities.” Under their proposed admission standards four current G-20 members would no longer qualify: Argentina, Indonesia, Mexico and Russia. However, four smaller nations, Switzerland, Singapore, Norway and Malaysia, would now be able to join. “With the global economy again weakening, we need a strong G-20 now more than ever. The leaders of the world should take the opportunity of their meeting in Los Cabos to put aside political incentives and do what is best to ignite the global economy. By setting real membership standards, world leaders could build a better G-20, one capable of facing the challenges ahead.” To read “The G-20 Needs Better Admissions Standards” click here.