Barack Obama, Hu Jintao and other leaders of the Group of 20 nations signed on to an ambitious package of economic and regulatory reforms in Pittsburgh last month, including everything from rules on bankers' pay to a commitment to rebalance national economic policies. It will be months, if not years, before we know whether those far-reaching pledges will actually be fulfilled, but the leaders did make one permanent change to the global governance landscape: They formally established the G-20 as the main forum for international economic policy-making, replacing the old G-7 directorate.rnThe change is a welcome, if belated, recognition of the dispersal of economic power and wealth around the globe in recent decades, something with which our readers have long been familiar. The emergence of dynamic markets in countries from Brazil to China to Turkey has beenrnone of the biggest growth opportunities of recent years. Figuring out how to capitalize on those openings is a challenge for all financial executives.
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