Nouriel Roubini on The G20 process for efficacy

Nouriel Roubini : I believe, on one side, it is necessary because the global economic and financial problems require a systemically important emerging market economies to be on the table.You cannot resolve problems of global imbalance , energy security, financial stability and climate change without having countries like India and China and many other emerging markets on board.In that sense, G7 was obsolete. But in other sense, it is much difficult to reach an agreement with 20 countries on the table and therefore, agreements were only in the time of crisis. But now there is wide divergence of views on a wide spectrum of issues. "

Nouriel Roubini : You cannot resolve problems of global imbalance without having India and China on board

Nouriel Roubini :..."...I believe, on one side, it is necessary because the global economic and financial problems require a systemically important emerging market economies to be on the table.You cannot resolve problems of global imbalance , energy security, financial stability and climate change without having countries like India and China and many other emerging markets on board. In that sense, G7 was obsolete. But in other sense, it is much difficult to reach an agreement with 20 countries on the table and therefore, agreements were only in the time of crisis. But now there is wide divergence of views on a wide spectrum of issues. ..."
via www.economictimes.indiatimes.com

Roubini : The asymmetry implies that global economic recovery is weaker than expected

Roubini on China US and The G20

"China and other countries are right in telling countries like the US that they need to cut budget deficits,"
"Last year most of the governments reacted aggressively with monetary stimulus and stopped the global economy from a free fall. But the G20 nations clearly have priorities that are different from one another,"
"The asymmetry implies that global economic recovery is weaker than expected,"
"I am not sure how they (G20 leaders) can achieve cooperation, because the state of cooperation is still unclear,"
"I am not blaming the US, or China, but everyone should do their part," said Nouriel Roubini.
in China Daily