Nicolas Véron, Senior Fellow at Bruegel, assesses the G20's performance in terms of financial reform. "In the past years, there have been achievements, but also outright failures," Véron explains. One of the relevant policy achievements of the group is Basel III.
On other fields, however, the G20 did not succeed. "The group of 20 had committed to have global accounting harmonisation - a single set of global high quality accounting standards - but this has failed completely so far."
Véron also tackles the role of China and other emerging economies in relation to the G20. This video was filmed in Beijing as part of the China-US-Europe Economists Symposium.