Did the G-20 do anything?

Dani Rodrik is somewhat disappointed with the G-20 communique:  What I was looking for were three things: (i) coordination on fiscal stimulus; (ii) a commitment to provide more liquidity support, as needed, to prevent a further spread of the crisis to emerging nations; and (iii) a clear commitment not to engage in trade protection, with a monitoring mechanism to ensure the pledge is being observed. How does the statement do in these regards?  So-so.  There is no coordination in the fiscal arena, the promises made to emerging markets are vague, and even though there is a clear statement on protection and export subsidization, there is no monitoring or enforcement mechanism. My take is slightly different.  The expectations of this G-20 meeting had to be pretty low, given that the focal point actor has a lane duck president.  What I found interesting, rather, was some laying of the groundwork for actual reform of global governance structures:  We are committed to advancing the reform of the Bretton Woods Institutions so that they can more adequately reflect changing economic weights in the world economy in order to increase their legitimacy and effectiveness.  In this respect, emerging and developing economies, including the poorest countries, should have greater voice and representation.  The Financial Stability Forum (FSF) must expand urgently to a broader membership of emerging economies, and other major standard setting bodies should promptly review their membership.  The IMF, in collaboration with the expanded FSF and other bodies, should work to better identify vulnerabilities, anticipate potential stresses, and act swiftly to play a key role in crisis response. What's interesting about this is the above paragraph mirrors the below paragraph put out a few weeks ago by the BRIC Finance Ministers:  We called for the reform of multilateral institutions in order that they reflect the structural changes in the world economy and the increasingly central role that emerging markets now play. We agreed that international bodies should review their structures, rules and instruments in respect of aspects like representation, legitimacy and effectiveness and also to strengthen their capacity in addressing global issues. Reform of the International Monetary Fund and of the World Bank Group should move forward and be guided towards more equitable voice and participation balance between advanced and developing countries. The Financial Stability Forum must immediately broaden its membership to include a significant representation of emerging economies. This kind of structural reform is not going to happen overnight.  But the fact that this got into the final communique suggests that there is at least some recognition by the G-7 that the rules of the game are about to change for good.