This article argues that the current G20 is unsustainable and should be replaced by a new body on a firmer constitutional foundation. It presents two designs, one of them a reformed version of the G20, the other a reformed version of the Bretton Woods (World Bank and IMF) governance arrangement....

The western hegemony of the past two hundred years is ending as power shifts towards the east and as western states lose the authority to uphold a rules-based multilateral order. In the wake of the Great Crash of 2008 the G20 leaders took steps to bolster the multilateral order, including reform...

Despite the global financial crisis and the prospect of severe economic recession, debates on future financial regulation take little if any notice of reasons why the previous regime of financial regulation failed so spectacularly. The paper identifies the key presumptions underlying efforts to...