With the World Bank’s prediction that the global economy will contract this year for the first time in fifty years, the problems presented by the global economic crisis are becoming worse not better. Will G20 save the day?

With the G20 summit just days away U.K. Prime Minister Gordon Brown is only repeating cryptically vague proposals on what the world’s leading nations should do.

It is a time-worn skill for politicians to talk endlessly without saying much, but next week’s London summit could evoke a particularly damning brand of nonspecific babble, especially since the G20 has long been thought of as an "informal" gathering. To wit, Brown explained that the leaders of the G20 should “take action” to ensure “strong growth and recovery, and particularly jobs in the world economy.” Some proactive rhetoric indeed.
 
U.S. Treasury Secretary Timothy Geithner contributed to the vacant talking points that there was “broad consensus globally on the need to act aggressively to restore growth to the global economy.” Let’s hope the G20 can make slightly further reaching conclusions by the end of the summit. 

A New York Times editorial published this week emphasized the importance of providing a more detailed recovery plan. With the continuous stream of generalizations being made in regards to what course of action should be taken, it will be hard to break the rhetorical mold. Rajiv Kumar, Director and Chief Executive of the Indian Council for Research on Economic Relations, wrote in VOX EU last week questioning the G20’s very legitimacy and arguing that its lack of goals or institutional support render its original purpose dubious.

If all the summit amounts to is the world's largest cocktail hour for global governance, let's hope the gin and tonic flows freely on Downing Street. It might be the last remaining catalyst to produce the concerted action the world needs.