UN General Assembly
2009

is the Group’s designation as the premier forum for international economic cooperation. That point was made twice in the Leaders’ Statement. Further, G-20 representatives are to report back to their countries with recommendations on how to maximize the effectiveness of their cooperation. 39 09-52604 It may be said that the G-20 is far more representative than the Group of Eight, given the participation of the leading emerging economies. However, questions remain as to how representative and inclusive it truly is. Therefore, the challenge of the G-20 process is how best to make it more legitimate and more effective. I would like to make the following points and proposals in this regard. First, many of the main thrusts of the G-20’s work, such as reform of the Bretton Woods institutions and strengthening the international financial regulatory system, were first articulated by Malaysia in the wake of the Asian financial crisis. Secondly, while claiming no particular credit for Malaysia, that means that ideas and solutions are not the monopoly of the large and powerful. Thirdly, the