The Group of 20 rich and developing nations have promised to give more influence to rising powers like China in rebuilding and guiding the global economy. They also declared their efforts to combat the crisis as successful. Leaders committed to maintaining economic supports until a sustainable recovery is achieved, establishing a framework for collaborative action to balance economic growth, and implementing stricter regulations for banks by 2012. British Prime Minister Gordon Brown stated that leaders representing a large portion of the world's population have agreed on a global plan for job creation, economic growth, and long-term recovery. US President Barack Obama's first major summit as host ended positively, with leaders claiming success in preventing a depression and stating that their efforts had been effective. Obama stated that our strong reaction helped halt the dangerous decline in global activity and stabilize financial markets. He emphasized the need to move away from the boom-and-bust economy of the past and not wait for a crisis to work together. The new framework will enable countries to assess each other's policies, reach consensus on reform, and ensure that global demand promotes growth for everyone. The G20 declared itself the top forum for economic cooperation, surpassing the previously dominant G7 and G8 summits. Colin Bradford, a senior fellow at the Brookings Institution in Washington, described the decision as a significant symbolic gesture in global politics. He emphasized the historical significance of the move, noting that it does not expand the G7 but replaces it. On the other hand, former IMF chief economist Simon Johnson was more doubtful, referring to the G7 as a "zombie" that is difficult to get rid of. He acknowledged the strong connections within the group, but suggested that at the summit level, they are no longer relevant. The decision to shift to the G20 from the G7 is a clear recognition of the increasing importance of rapidly growing countries like China and India in global economic growth. John Lipsky, the deputy managing director of the International Monetary Fund, explained that this move reflects the economic realities of the world and the necessity of including major emerging economies in discussions about the global economy. The revelation of a second Iranian uranium enrichment plant presented an opportunity for Obama, along with the leaders of Britain and France, to push for unified action against Tehran regarding its controversial nuclear program. Obama warned Iran that it must make a decision about its future path during a meeting with world powers in Geneva on October 1. The group still had tough economic tasks ahead despite progress made. The G20 agreed not to repeat the "reckless behavior" that led to the financial crisis two years ago. They emphasized the need for responsible markets and growth without boom and bust cycles. In addition to regulatory reforms to be implemented by 2012, the G20 also addressed excessive pay for bankers. The leaders agreed that companies should have the ability to recover or take back pay and bonuses under certain circumstances. This was done to ensure that bankers do not receive large payouts for taking risky bets that result in losses. The leaders also agreed to transfer some voting power at the International Monetary Fund to countries that are underrepresented, like China, from wealthier countries, signaling a recognition of the shifting economic power balance. The G20 also endorsed a plan to gradually eliminate subsidies for fossil fuels to address global warming, and to intensify efforts to finalize the Doha round of trade negotiations. Additionally, world leaders supported a U.S.-led initiative to rebalance the global economy, aiming to reduce significant surpluses in exporting countries like China and large deficits in importing countries such as the United States. Obama is looking to move away from the U.S. tradition of borrowing and spending, and instead focus on saving and investing. However, this shift would also require countries like China, which rely on exports for growth, to make adjustments. G20 leaders have agreed to collaborate in evaluating how domestic policies align and whether they promote sustainable and balanced growth. Countries with significant surpluses, like China, have committed to boosting domestic sources of growth, while those with large deficits, such as the United States, have pledged to support private savings. Economists have long warned that these imbalances could disrupt the global economy, and previous efforts to address them have not been successful. The United States believes that this effort will be successful this time because China and other major exporters experienced significant downturns when global trade collapsed during the recession, revealing their vulnerability to external shocks. Despite a display of unity, there were some sources of tension. Many Europeans were disappointed by the lack of agreement on how to finance the fight against climate change, especially with an upcoming climate summit in Copenhagen. European Commission President Jose Manuel Barroso expressed concern over the slow progress and urged for immediate action. Approximately 10,000 protesters, who were kept away from the G20 convention center, marched against capitalism and the G20's agenda, with some chanting slogans directed at the police. There was just one person arrested on Friday and the atmosphere was optimistic, unlike the previous day's protests which involved confrontations with law enforcement and numerous arrests.