This title was first published in 2001. John Kirton, Joseph Daniels and Andreas Freytag present an indispensable and authoritative collection of papers which examine both the professional economic merits and the underlying politics, of the hotly contested competing initiatives for strengthening the international financial system. Containing the first treatment of China's relationship with the G7/G8 and comprehensive analysis of the new G20 forum, this volume in the G8 and Global Governance series also looks at the possibilities for the G8 system. It places the work of the G7 within a broader context of global governance and the new challenges facing the international community in the new century. A balanced selection of distinguished experts from the G7 countries and from emerging markets outside, provide an essential addition to the bookshelves of academics, government officials and business and media communities interested in keeping abreast of the ongoing and rapidly expanding work of the G7/G8 system.

Contents: Introduction, John J. Kirton, Joseph P. Daniels and Andreas Freytag. The Core Economic Issues: Internal macroeconomic policies and international governance, Andreas Freytag; Challenges for the global financial system, Juergen B. Donges and Peter Tillmann; U.S. dollarization: a second-best form of regional currency consolidation, George M. von Furstenberg; Looking askance at global governance, Razeen Sally. The Broad Agenda: The G7 and the debt of the poorest, Barbara Dluhosch; Modern concept diplomacy: the contact group and the G7/8 in crisis management, Christoph Schwegmann; The G7/8 and the European Union, Klemens Fischer. New directions in Global Governance: The G20: representativeness, effectiveness and leadership in global governance, John J. Kirton; International macroeconomic policy co-operation in the era of the Euro, Martin J.G. Theuringer; The G7/8 and China: toward a closer association, John J. Kirton; Corporate governance: international perspectives, Donald J.S. Brean; Creating sustainable global governance, Pierre Marc Johnson. Conclusion: The G8's contributions to twenty-first century governance, John J. Kirton, Joseph P. Daniels and Andreas Freytag. Appendices; Bibliography; Index.