In any scenario, policymakers must do their utmost to build a bridge over the troubled times, in order to prevent a sharp rise in bankruptcies and job losses. Mostly, the policy response has been swift.
G20 (the lineal successor to G22) now has the potential to become a premier group for discussing the critical issues of globalisation, with a representative audience no longer dominated by Europeans. The Financial Stability Forum has been formed, again with good representation from the region, to hammer out the specifics of financial rules and regulations.