The empowerment of the G-20 is a step in the right direction, but many more changes are needed, including restructuring the UN, the International Monetary Fund, and the World Bank so that they, too, reflect the new distribution of power. In return, new arrangements should call on emerging countries to contribute more to addressing climate change, paying for peacekeeping and state-building, promoting free trade, and sanctioning those who support terror or develop weapons of mass destruction.