Ongoing tectonic shifts in the global economy raise many questions about international governance. The recent emergence of the G20 as the key body for international policy discussions, for example, reflects a new global reality: that the days of the North deciding policies and the South merely implementing them are over. We needed more seats, and a bigger table.
Actually, by 2002, heads of state had already agreed in Monterrey, Mexico to increase the legitimacy of multilateral institutions such as the World Bank by ensuring developing countries have stronger voice and representation in the governance of those bodies, particularly as such organizations directly affect the development of poor and emerging nations.
...