The Group of 20 wealthy and developing nations have promised to give emerging powers like China more influence in shaping and revitalizing the global economy. They also declared their efforts to combat the crisis a success, with plans to continue economic support until a sustainable recovery is achieved, establish a framework for coordinating economic growth, and enforce stricter regulations on banks by 2012. British Prime Minister Gordon Brown hailed the agreement reached in Pittsburgh, where leaders representing a large portion of the world's population agreed on a global plan for job creation, growth, and long-term economic recovery. US President Barack Obama's hosting of the summit was seen as a success, with leaders claiming they were able to prevent a recession from turning into a depression. The final communique stated, "It worked." Obama stated that their forceful action was effective in halting the dangerous decline in global activity and stabilizing financial markets. He emphasized the need to move away from the traditional boom-and-bust economy and work together to prevent crises. The G20 summit in Pittsburgh marked a shift towards greater economic cooperation, replacing the G7 and G8 as the primary international 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 expand it. On the other hand, Simon Johnson, a former IMF chief economist, expressed skepticism, calling the G7 a "zombie" that is difficult to eliminate due to its deep connections. Despite this, he acknowledged that at the summit level, the G7's influence has diminished. The decision to shift to the G20 from the G7 was a clear recognition of the growing importance of fast-developing countries like China and India in global economic growth. According to John Lipsky of the International Monetary Fund, this move reflects the economic realities of the world today. The disclosure of a second Iranian uranium enrichment plant provided an opportunity for President Obama, along with the leaders of Britain and France, to push for united action against Tehran regarding its nuclear program. Obama warned Iran that it must make a decision at the upcoming meeting with world powers in Geneva on October 1 about its path forward. The group still had tough economic tasks ahead despite progress made. The G20 pledged to avoid repeating the "reckless behavior" that triggered the financial crisis, which began with failing U.S. mortgage loans two years ago. The leaders emphasized the need to avoid complacency and strive for responsible growth without market volatility. They also targeted excessive pay for bankers, in addition to upcoming regulatory reforms set to be implemented by 2012. The leaders reached an agreement that companies should have the ability to recover pay and bonuses under certain circumstances, in order to prevent bankers from receiving large rewards for taking risky actions that result in negative consequences. Additionally, they agreed to transfer some voting power at the International Monetary Fund from wealthy nations to underrepresented countries like China, indicating a recognition of the shifting economic power dynamics. The G20 supported a plan to eliminate fossil fuel subsidies as a means of addressing climate change, and committed to intensifying efforts to finalize the Doha round of trade negotiations. Furthermore, world leaders endorsed a U.S.-led initiative to rebalance the global economy by reducing excessive surpluses in major exporting countries such as China and deficits in major importing nations like the United States. Obama is looking to move away from the traditional U.S. approach of borrowing and spending, and instead focus on saving and investing. This shift will require countries like China, who 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 consistent surpluses, like China, have committed to boosting domestic growth, while countries with deficits, such as the U.S., have promised to promote private savings. Economists have long warned about the risks of these large imbalances destabilizing the global economy, and previous efforts to address them have not been successful. The United States believes that the current effort to boost global trade will be successful this time because China and other major exporters experienced significant downturns during the recession, revealing their vulnerability to external shocks. Despite a display of unity, there were some points of tension, with many Europeans frustrated by the lack of agreement on funding for climate change initiatives, especially with a key summit in Copenhagen approaching. European Commission President Jose Manuel Barroso expressed his concern over the slow progress and called for urgent action. Meanwhile, around 10,000 protesters marched against capitalism and the G20's agenda, with some chanting slogans against the police. On Friday, there was just one person who was arrested, and the atmosphere was positive. This was a stark difference from the protests on Thursday, which saw conflicts with law enforcement and numerous arrests.