The Group of 20 rich and developing nations have committed to giving more influence to emerging powers like China in shaping and reviving the global economy. They also deemed their efforts to combat the crisis a success, promising to maintain economic supports until a sustainable recovery is achieved, establish a framework for collaborative action to rebalance economic growth, and enforce stricter regulations on banks by 2012. British Prime Minister Gordon Brown hailed the agreement reached in Pittsburgh as a global plan for job creation, growth, and long-term economic revival, while US President Barack Obama's hosting of the summit was deemed a success, with leaders claiming they had prevented a depression and achieved their goals. Obama stated that their strong response was effective in halting the dangerous decline in global activity and stabilizing financial markets. He emphasized the need to move away from the boom-and-bust economic cycle of the past and called for proactive cooperation to prevent crises. The G20's new framework aims to facilitate policy assessment, consensus-building on reforms, and ensuring global demand supports growth for everyone. The Pittsburgh summit marked the G20's third meeting in a year, signaling its rise as the main forum for economic cooperation, surpassing the previously dominant G7 and G8 forums. Colin Bradford, a senior fellow at the Brookings Institution in Washington, described the decision as a significant symbolic gesture in international politics. He emphasized the historical importance of the decision to replace the G7 rather than enlarge it. On the other hand, Simon Johnson, a former IMF chief economist, expressed skepticism, referring to the G7 as a resilient entity that is difficult to eliminate despite its diminishing significance at the summit level. The decision to shift to the G20 from the G7 reflects the growing importance of rapidly developing countries like China and India in global economic growth. John Lipsky, the deputy managing director of the International Monetary Fund, stated that this change acknowledges economic realities and the need to include major emerging economies in discussions about the global economy. The disclosure of a second Iranian uranium enrichment plant provided an opportunity for Obama, along with leaders from Britain and France, to push for unified action against Tehran regarding its controversial nuclear program. Obama warned Iran that it must make a decision at the upcoming meeting with world powers in Geneva on October 1 regarding its path forward, as it could lead to confrontation. The group still had tough economic tasks ahead, despite progress made. The G20 pledged to avoid the risky behavior that led to the financial crisis, focusing on sustainable growth and responsible market practices. They also targeted excessive banker pay and planned regulatory reforms to be implemented by 2012. The leaders reached an agreement that companies should have the ability to recover or take back compensation and bonuses under certain circumstances. This was done in order to ensure that bankers do not receive large payouts for making risky investments that ultimately fail. Additionally, the leaders decided to transfer some voting power at the International Monetary Fund from wealthy countries to those that are underrepresented, including China, indicating a recognition of the changing economic power dynamics. The G20 also approved a plan to eliminate subsidies for fossil fuels as a means of addressing climate change, and pledged to intensify efforts to finalize the Doha trade negotiations. Furthermore, world leaders supported a U.S.-led initiative to rebalance the global economy by addressing large surpluses in exporting countries like China and significant deficits in importing nations such as the United States. Obama is looking to move away from the U.S. model of borrowing and spending in favor of saving and investing. This shift would require countries like China, which rely on exports for growth, to also make adjustments. G20 leaders have agreed to collaborate in assessing how domestic policies align and determining if they support more sustainable and balanced growth. Countries with significant surpluses, like China, have promised to boost their domestic sources of growth, while countries with large deficits, such as the United States, have committed to promoting private savings. Economists have long warned about the potential destabilizing effects of these imbalances on the global economy, and past efforts to address them have not succeeded. The United States believes that the current effort to boost global trade will be successful this time, as countries like China experienced significant economic downturns during the recession, revealing their vulnerability to external shocks. Despite a display of unity, there were some tensions, with many Europeans frustrated by the lack of agreement on funding measures to combat climate change ahead of the Copenhagen summit. European Commission President Jose Manuel Barroso expressed concern over the slow progress and emphasized the need for urgency. Meanwhile, around 10,000 protesters marched against capitalism and the G20's agenda, with some chanting slogans against the police. On Friday, there was only one person arrested and the atmosphere was cheerful, which was different from the tense protests on Thursday that led to confrontations with law enforcement and numerous arrests.