Countries like China, India, Brazil and Russia are playing an increasingly important role as the engines of growth in the global economy, and none of them are members of the G-7.
I am sure that the G-20 will become more relevant in the period ahead, since the G-20 is small enough to allow for meaningful discussions, yet its global influence is broad enough to incorporate all the major players. As a collective the G-20 contributes almost 90 per cent of global Gross Domestic Product and trade.