“Systemically Significant States”: Tracing the G20’s Membership Category as a New Logic of Stratification in the International System

Abstract

ABSTRACT The international system has long distinguished classes of states, such as “great powers”. Recently, “systemically significant states” has emerged as a new designation within global financial governance. This designation was introduced by the G7 to justify the new membership composition of the G20, and has since been adopted in policy documents and recommendations by other institutions, such as the IMF. This article traces the origins of the term “systemically significant” and argues that, although nominally meant to be a term of inclusion and a signal of the pluralisation of governance authority, it instead serves as a new category of stratification rooted in a neoliberal governmentality of risk.