Growth is Stability –A Scope of Interdependent Emergence

... in recent years. In short, the onset of the global economic downturn demolished the economic hegemony of advanced countries. The crisis proved that G8 was no longer an effective forum of global policy coordination and it is increasingly replaced by G20. Despite the ongoing redistribution of power, however, emerging countries particularly Russia and China are often portrayed as a threat to the existing regimes of global governance, both in political and economic terms.[3] Photo: Anton Knoff Photo www.ellada-russia.gr In my view, contemporary scholars ...