Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

International Monetary and Financial Negotiations in Times of Crises: The G20 Pittsburgh Summit 2009

No metrics data to plot.
The attempt to load metrics for this article has failed.
The attempt to plot a graph for these metrics has failed.
The full text of this article is not currently available.

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this article

+ Tax (if applicable)
Add to Favorites
You must be logged in to use this functionality

image of International Negotiation

AbstractThe G20 leaders met for their third summit in Pittsburgh in September 2009. They agreed to institutionalize the G20 as the premier forum for their global economic cooperation, shift 5% of IMF quota shares and 3% of the World Bank’s shares from the overrepresented advanced countries to underrepresented dynamic-markets and developing countries, and continue with their fiscal stimuli and measures to sustain a durable global economic recovery following the global recession of 2008/09. More importantly, they launched negotiations on global imbalances within a newly formed G20 mechanism; the Framework for Strong, Sustainable and Balanced Growth. This article focuses on the financial negotiations that took place in this summit, with the aim of explaining how the aforementioned outcome was reached. It focuses on actors’ negotiating strategies as an intervening variable explaining the outcome, and compares the strategies of three important actors: the United States, China and Germany.

Affiliations: 1: Department of Politics and International Studies, Darwin College, University of CambridgeCambridge CB3


Full text loading...


Data & Media loading...

1. Agence France Presse "“Germany, France urge bigger eucontribution to IMF.”" 2009 August 31 2009
2. Barkin J. S. "“Time Horizons and Multilateral Enforcement in International Cooperation.”" International Studies Quarterly 2004 Vol 48 363 382
3. Benoit Bertrand , Bryant Chris "“Berlin Bids to Halt ‘too Big to Fail’ Banking.”" The Financial Times 2009 August 31 2009
4. Cohen Benjamin J. Andrews David "“The Macrofoundations of Monetary Power,”" International Monetary Power 2006 Ithaca, NY Cornell University Press
5. Cooper Andrew F. , Thakur Ramesh The Group of Twenty (G20) 2013 Routledge
6. Dettmer Markus , Reiermann Christian , Reuter Wolfgang "“Little Chance of Progress in Pittsburgh: G-20 Nations Divided over How to Fix World Economy”" Spiegel Online International 2009 September 22 2009
7. Deutsche Bundesbank Monthly Report 2009 Berlin, Germany August 2009
8. Dullien S. , Herr H. Pohlmann Christoph , Pohlmann Stephan "“Country Fact Sheet – Germany,”" 2010
9. Reichert Hubert , Schillinger René The G-20: A “Global Economic Government” in the Making? Friedrich Ebert Foundation
10. Dyson Kenneth "“In the Shifting Shadows of Crisis: Pivot Points, Crisis Attribution, and Macro-Economic Policies under Grand Coalition.”" German Politics 2010 Vol 19 3 4 393 415
11. Fearon J. D. "“Bargaining, Enforcement, and International Cooperation.”" International Organization 1998 Vol 52 2 269 306
12. Federal Ministry of Economics and Technology "The Economic Situation in the Federal Republic of Germany in October 2009" Press Release 2009 Berlin, Germany 19 October 2009
13. G20 Leaders’ Statement: The Pittsburgh Summit 2009a September Pittsburgh, PA 24 25 2009
14. G20 Meeting of Ministers and Governors: G-20 Communiqué 2009b November 6–7 St. Andrews, Scotland, UK 2009
15. Gamble Andrew Narlikar Amrita "“The Politics of Deadlocks,”" Deadlocks in Multilateral Negotiations: Causes and Solutions 2010 Cambridge Cambridge University Press
16. Geithner Timothy "Transcript of television interview to CNN" 2009 September 6 London, UK 2009
17. Guha Krishna , Dyer Geoff "“China Scorns Focus On Imbalances.”" The Financial Times 2009 September 17 2009
18. Hall Ben , Benoit Bertrand "“Merkel Supports Bonus Curbs.”" The Financial Times 2009 August 26 2009
19. Helleiner Eric Helleiner Eric , Kirshner Jonathan "“Enduring Top Currency, Fragile Negotiated Currency: Politics and Dollar’s International Role,”" The Future of the Dollar 2009 Ithaca, NY Cornell University Press
20. Institute of International Finance Country Report: People’s Bank of China 2009a August 6 2009
21. Institute of International Finance "“China: The Global Economy and Potential Systemic Risks.”" IIF Research Note 2009b September 14 2009
22. Institute of International Finance "“Global Economic Monitor.”" 2009c September 2009
23. International Monetary Fund Global Financial Stability Report: Market Update 2009a July Washington D.C. International Monetary Fund 2009
24. International Monetary Fund World Economic Outlook 2009b September Washington D.C. International Monetary Fund 2009
25. International Monetary Fund IMF Executive Board Concludes 2009 Article IV Consultation with the People’s Republic of China 2009c Washington D.C. International Monetary Fund 22 July 2009
26. International Monetary Fund "“Modest Recovery in Store for Germany.”" IMF Survey 2010 March 30 Washington D.C. International Monetary Fund 2010
27. Kahler Miles "“Asia and the Reform of Global Governance.”" Asia Economic Policy Review 2010 Vol 5 178 193
28. Kirton John G20 Governance for a Globalized World 2013 Farnham Ashgate
29. Kugler Jacek , Tammen Ronald L. Thompson William R. "“Implications of Asia’s Rise to Global Status,”" Systemic Transitions: Past, Present, and Future 2008 Basingstoke, UK Palgrave Macmillan
30. Larson Deborah Welch , Shevchenko Alexei "“Status Seekers Chinese and Russian Responses to u.s.Primacy.”" International Security 2010 Vol 34 4 63 95
31. Maull Hanns W. "“Germany and Japan: The New Civilian Powers.”" Foreign Affairs 1990 Vol 69 5 91 106
32. Mildner Stormy-Annika , Schwarzer Daniela "“Narcissism of Minor Differences or Major Economic Rifts? The Political Economy of (Post) Financial Crisis Management in the United States and the European Union.”" 2012 Washington, DC German Marshall Fund (March) Economic Policy Paper Series
33. Ministry of Foreign Affairs of the People’s Republic of China "Make Every Effort to Promote Growth and Balanced Development" Remarks by H.E. Hu Jintao President of the People’s Republic of China at the Third G20 Financial Summit 2009a September 25 Pittsburgh 2009
34. Ministry of Foreign Affairs of the People’s Republic of China Foreign Ministry Holds Briefing for Chinese and Foreign Media on President Hu Jintao’s Upcoming Attendance at UN Meetings and the 3rd Financial Summit of G20 Leaders 2009b September 15 Beijing, China
35. Moody’s Investors Service Rating Action: Moody’s Changes China’s Ratings Outlook to Positive from Stable Global Credit Research. 2009 9 November 2009
36. Müller-Härlin Bernhard Global Governance: How Can China and Europe Work Together? 2010 147th Bergedorf Round Table organized in cooperation with the International Department of the Central Committee of the Communist Party of China. Aman at Summer Palace, Beijing 14–16 October 2010.
37. Odell John S. Negotiating the World Economy 2000 Ithaca, NY Cornell University Press
38. Odell John S. "“Three Islands Of Knowledge About Negotiation In International Organizations.”" Journal of European Public Policy 2010 Vol 17 5 619 632
39. Organization of Economic Cooperation and Development "“China,”" OECD Economic Outlook 2009a Vol 1 Paris OECD Publishing
40. Organization of Economic Cooperation and Development "“Germany.”" OECD Economic Outlook 1 2009b Paris OECD Publishing
41. Organski A. F. K. World Politics 1958 New York Knopf
42. Oye K. A. Cooperation under Anarchy 1986 Princeton, NJ Princeton University Press
43. Patrick Stewart I.Bradford Colin , Lim Wonhyuk "“The G20: Shifting Coalitions of Consensus Rather than Blocs,”" Global Leadership in Transition: Making the G20 More Effective and Responsive 2011 Korea Development Institute and Brookings Institution Press
44. Piccuta Dan "“Secretary Geithner’s June 1 Meeting with Vice Premier Wang Qishan in Beijing”" Wikileaks 2009a Wikileaks cable: 09BEIJING1571. 11 June 2009. Available at:
45. Piccuta Dan "“Vice Foreign Minister He discusses G-20, DPRK, Iran, AF/PAK, UNSC Reform, Taiwan, Tibet with Charge.”" Wikileaks 2009b Wikileaks cable: 09BEIJING1176. 30 April 2009.
46. Pruitt Dean G. Negotiation Behavior 1981 New York Academic Press
47. Pruitt Dean G. , Latané Drews Julie "“The Effect of Time Pressure, Time Elapsed, and the Opponent’s Concession Rate on Behavior in Negotiation.”" Journal of Experimental Social Psychology 1969 Vol 5 1 43 60
48. Reuters Merkel Warns G20 not to Dodge Regulation Issue 2009a 24 September 2009.
49. Rubinstein A. "“Perfect Equilibriwn in a Bargaining Model.”" Econometrica 1982 Vol 50 97 109
50. Schirm S. A. "“Global politics Are Domestic Politics: How Societal Interests and Ideas Shape Ad Hoc Groupings In the G20 which Supersede International Alliances.”" 2011 Paper prepared for the International Studies Association (ISA) Conventiontion Montreal, Canada, March 16–19 2011
51. Schmitz Gregor Peter "“G-20 Relaunched as World’s Top Forum.”" Spiegel International 2009 25 September 2009
52. Sekine Eiichi "“China’s Foreign Exchange Reserves and China Investment Corporation’s steps towards diversifying how it manages its portion of them.”" Nomura Journal of Capital Markets 2009 Vol 1 4 2 15
53. Shin Annys "“For G-20 Summit, Old Issues Give Way to New.”" The Washington Post 2009 23 September 2009.
54. Snidal Duncan "“Coordination Versus Prisoners’ Dilemma: Implications for International Cooperation and Regimes.”" American Political Science Review 1985 Vol 79 923 942
55. Stahl I. "“Bargaining Theory,”" 1972 Stockholm Stockholm School of Economics
56. Susman Louis "“Ambassador’s Call on Jon Cunliffe, G8/G20 Sherpa – PM Pleased with Pittsburgh.”" Wikileaks 2009 Wikileaks Cable. 09LONDON2326. 19 October 2009.
57. Tammen Ronald L. , Kugler Jacek "“Power Transition and China–US Conflicts.”" Chinese Journal of International Politics 2006 Vol 1 35 55
58. Tammen Ronald L. , Kugler Jacek , Lemke Douglas , et al Power Transitions: Strategies for the 21st Century 2000 New York Chatham House
59. Vogt Suanna Hofmeister Wilhelm , Vogt Susanna "“Germany and the G20,”" G20: Perceptions and Perspectives for Global Governance 2011 Berlin Konradt Adenauer Stiftung
60. Walton R. E. , McKersie R. B A Behavioral Theory of Labor Relations 1965 New York
61. White House "“Press Briefing by Treasury Secretary Tim Geithner on the G20 Meetings.”" 2009a Pittsburgh Convention Center. Pittsburgh, Pennsylvania. 24 September 2009.
62. White House "“Remarks by President Obama at G20 Losing Press Conference.”" 2009b Pittsburgh Convention Center. Pittsburgh, Pennsylvania, 25 September 2009.
63. Woolcock Stephen European Union Economic Diplomacy: The Role of the euin External Economic Relations 2012 Aldershot Ashgate
64. World Bank "“China Quarterly Update.”" 2009 Washington D.C. World Bank November 2009
65. Wu Xiaoyong "“China: The Recovery Takes Hold.”" Institute of International Finance Research Note. 2009 29 October 2009
66. Zohlnhöfer Reimut "“The 2009 Federal Election and the Economic Crisis.”" German Politics 2011 Vol 20 1 12 27

Article metrics loading...



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Subscribe to ToC alert
  • Get permissions
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    International Negotiation — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation