Regrouping and power rebalancing is under way at the G-20 while the G-8 is likely to turn into a strategy forum for developed countries led by the US, France and Germany.
Emerging powers Brazil, Russia, India and China (constituting BRIC) have enlisted the membership of South Africa, Mexico and Indonesia in a bid to take on the US-EU-Japan troika. A top G-20 negotiator confirmed that all three had agreed to join BRIC.