Dries Lesage, Professor in Globalization and Global Governance at the Ghent Institute for International Studies, Ghent University, Belgium; E-mail: Dries.Lesage@Ugent.be

The paper presents the comparative analysis of the G8 and G20 evolution. The author highlights the issue of division of labor between two fora in international governance as its transformation from the finance ministers’ meetings to the leaders’ meetings. The proposed scenarios of future co-existence are based on the application of functional and pragmatic approaches and the idea of representing the interests of different countries through the mechanisms already being developed and applied during the G8 and G20 agenda deepening.