As we move to a multipolar world, groupings like APEC can help build consensus. Ultimately, however, the G20 has the best chance at new rules for a post-COVID-19 global order.
The major global economies came together in 2008 to put aside differences and co-ordinate policies to avoid the worst economic downturn since the Great Depression.
Yet G20 and global economic co-operation was largely absent during the much bigger health and economic crisis from the coronavirus pandemic.
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Shiro Armstrong is a professor and director of the Australia–Japan Research Centre at the Crawford School of Public Policy at the Australian National University.
