The emerging economies of East Asia and the G-20 process Norbert von Hofmann, FES-Jakarta, December 2009 • The group of the 20 most important industrial and emerging economies(G-20) will most likely be the decisive platform for issues of international economic co­operation. • Three emerging economies in East Asia are members of the G-20, the PR China, South Korea and Indonesia. All three welcomed the elevation of the G-20 to a world economic summit. • The G-20 is in its composition far more inclusive compared to the G-8, but the question of legitimacy still remains. • In the G-20 the emerging economies have the opportunity to present their posi­tions on an equal footing. In return, the emerging economies have to accept a common responsibility for the solution of global problems. • As the emerging economies are more oriented towards long-term issues, and the industrialised countries are more interested in the solution of short-term prob­lems, the question on the future of the G-20 arises. • If the G-20 should remain active beyond the financial crisis, the emerging economies have to be prepared to enter as well north-south coalitions besides specific south-south alliances. History The concept of the‘group of the twenty most important industrial and emerging economies’(G-20) has its roots in the so called‘chimney talks’ at Rambouillet near Paris where the heads of government from West Germany, Italy, Japan, the United Kingdom and the United States met in 1975. A year later also Canada was in­vited to the club and the G-7 came into existence. The annual summit was con­sidered as an informal meeting, where in a small gathering financial and currency issues could be discussed. However, over the years more and more foreign politics and foreign economic topics came to the fore. All topics were supposed to be elabo­rated in the spirit of common responsibility and consensus. In 1998 the G-7 was ex­tended by Russia(full member since 2002) resulting in the G-8. At the G-8 Summit 2005 in Gleneagles, Great Britain it was the request of the Europeans to invite for the first time also the heads of governments from five lead­ing emerging economies(Brazil, India, China, Mexico and South Africa), with that it was expected to achieve a wider and more democratic legitimization as well as a more effective cooperation in global is­sues, such as the climate protection. The question of climate changes was at Glen­eagles for the first time on the agenda. Later, at the G-8 Summit of Heiligendamm in Germany in 2007 a two years dialogue­process was agreed upon with the five emerging economies. Topics were for ex­ample to protect innovations, to establish fair investment conditions, as well as questions of energy efficiency and devel­opment cooperation. The group of twenty Contrary to the G-8 or the G-8+5 the 1999 founded G-20 was, at least in the begin­ning, not a summit meeting, but an infor­mal gathering of Finance Ministers and