The present G20 summit in Korea, halfway through, looks like a damp squid already, despite all the expectations that it would produce the beginnings of some sensible monetary/trading system. I rather think that the institution of the G20 has already had its day and that any future monetary order is only going to be arrived at by a few players -- America, China and Germany perhaps? Perhaps with Russia and Brazil also? Quite besides the economic clout of these countries, the best size for any committee is about five -- effective decision-making tails off steeply after that. (This number, sans oldies, nursing mothers, children and a few adolescents, is about the size of the group in which homo sapiens and his immediate forebears evolved -- in which his social behaviour was largely shaped -- for several millions years.)

Keith

Keith Hudson, Saltford, England  
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