As I mentioned before, it's going to be interesting to see how the current president and the president-elect maneuver through the politics of the upcoming G-20 Summit. Though Obama will not be attending, his camp has just announced that former Secretary of State Madeline Albright and former Republican Representative Jim Leach will be available to meet with international delegations during the conference (statement after the jump). This strikes me as a good balance: You don't really want to undercut the outgoing president (if only to distance yourself from his policies) but no one really wants to engage in a long-term economic discussion with someone who will be in charge for only a few more months. And it's a savvy move to choose a bi-partisan team to represent the incoming administration.
Policy-wise, the European delegations are in favor of a "new Bretton Woods," a second-chance attempt to structure international financial markets, while President Bush favors a more limited response. But an Obama administration would be much more inclined to support broader international economic integration through a new international institution. A delicate dance for all involved, then, but don't expect very much substantial work to come from the meeting.
--Tim Fernholz
