The G-20 since the global financial crisis: Neither hegemony nor collectivism

Abstract

This article analyzes the sources of gridlock in the Group of 20 since the global financial crisis. It engages with this question through Mark Beeson and Stephen Bell's framework, which identifies two processes of socialization operating concurrently within the G-20: hegemonic incorporation and collectivist cooperation. While hegemonic incorporation seeks to socialize the rising Southern powers into the US-led world order, their inclusion over time drives the G-20 toward more collective and cooperative forms of global governance. The article argues that the GFC has altered this equation in two ways: by accelerating the shift of economic power from the North to the South, and by undermining the hegemony of neoliberalism in the South. These two developments have made the United States less willing to offer the concessions necessary for hegemonic incorporation while, at the same time, bolstering the confidence of the Southern powers. Consequently, the article proposes that both hegemonic incorporation and co...