G-Force

Building on the creation of the G7, several countries have conspired to establish their own G-titled alliances. Although G7 still dominates policy in international institutions such as the International Monetary Fund (IMF) and the World Bank, these "alphanumeric bodies" have largely ceased to have meaning. Perennial problems, such as the perpetual pegging of the Chinese yuan to the American dollar, have not seen substantial improvement for the past ten years. "[Initial] agreement…was possible only because the domestic politics of each country favoured it," writes The Economist. "There is no easy alphanumeric solution to the imbalances of the world." – YaleGlobal