If advanced economies are to prosper, it is necessary (though not sufficient) that the corporate sector s willingness to invest match its considerable wallet. Six factors appear to pose particularly important constraints.

Australia, as host, also has a role to play. The country is respected by developed and developing countries alike, often bridging the interests of both, and is widely viewed as an honest broker.

Moreover, the advanced economies have staked their claim to leadership in these institutions. Europeans have led the IMF and Americans have controlled the World Bank since their establishment after World War II.

The Brisbane Summit therefore needs to rediscover the activism that it displayed in 2008 and 2009, during the height of the financial crisis. It must be led by the United States and other advanced economies, and backed up by major emerging economies.