Growth is Stability –A Scope of Interdependent Emergence

... is the new norm (but capitalism in today’s world is still alive and kicking). In the realm of international affairs and global governance, there has also been a fundamental shift in relative power distribution. Firstly, states’ grips on economies ... ... 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 ...