Thread by @_scottreid

The G20 exists because Paul Martin & Gordon Brown recognized in 1997 that a gathering as unrepresentative as the G7/8 would find it impossible to manage transnational challenges in an interdependent world. It was sparked by the Asian Crisis but its logic persisted #G20Italy

https://twitter.com/nytimes/status/1454422868197101568

My old boss Mr. Martin was absolutely gripped by the issue. He began lobbying for a G20 while hosting the 1998 APEC Finance Ministers in Kananaskis, Alta (an event that gave me a classic Ralph Klein anecdote). We even had windbreakers made up with a nifty logo #G20Italy

By 1999, he had made real progress internationally. The first G20 Finance Ministers and Central Bank Governors meeting was held in Berlin. And Martin served as its inaugural Chair. It was an important milestone. But there was still stiff resistance at the Leaders' level #G20Italy

The problem was that G7/8 advocates feared (correctly, but for all the wrong reasons) that smaller group might lose influence if a Leaders G20 began to meet. The very reason it was needed - to include BRIC countries and others - was what worried the status quo-ers #G20Italy

In particular, the US - despite the enthusiasm of Larry Summers - was unsure it wanted to surrender the tidiness and authority that came from the G7/8. Martin and Brown - as they moved to become Heads of Government - pushed hard but couldn't convince others to move #G20Italy

But good ideas persist. The motivation for the G20 was sparked by the Asian Financial Crisis in '97. A decade later, the global Financial Crisis of '08 made a Leaders G20 almost inevitable. Finally, the US realized a workable forum with international reach was needed #G20Italy

The genius of the G20 was that it was conceived as something broad enough to facilitate global policy approaches. But functional enough that it could avoid the paralysis of some larger international institutions. And, as a leader-led forum, it could drive decisions. #G20Italy

That was exactly the sort of architecture needed during the Financial Crisis to establish coordinated, border-spanning policies in order to protect people everywhere (from the greed and stupidity that had run rampant in financial circles - but that's for another thread) #G20Italy

Consequently, G20 Leaders met for the first time in the shadow of crisis in November 2020. And has institutionalized itself ever since. Some years it's just a big expensive meeting with a forgetful communique. Some years - like '08 - it's a vital difference-maker. #G20Italy

I think it's a grave indictment of US leadership that the G20 wasn't harnessed more fully in '20 to help manage the public health, humanitarian and economic fallout of COVID-19. Much could have been done. But Trump is a fool and the Saudis were hosting. So, no chance. #G20Italy

As it meets in Rome this weekend, you can feel the G20 reasserting its importance. From steadying an uncertain world economy to climate to vaccine equity. It will again matter. And without question it is now permanent. #G20Italy

I'm biased. But I can't help but hope that, as time unfolds and the importance of the G20 grows, this one footnote about its founding is better recognized: That had not been for the imagination and determination of Canada - and of Paul Martin - it might not exist. #G20Italy