The economic power is moribund due to financial crisis. Robert Zoellick President of World Bank said one of the reasons could be changed economic power relations. World’s biggest economy has been affected by the recession for nearly two years while on the other hand rising countries economies like China and Brazil have grown. This way results in long-term rebalancing of world economy.

Multi polar economy less reliant on US consumer will be a more stable world economy said the president of World Bank. Robert Zoellick was speaking in Istanbul during a meeting of the World Bank and International Monetary Fund. There was some debate about how to reorganize the leadership of bodies so that they reflect the diversified world in a better way. Finance Minister from G7 or Group of Seven richest nation mainly US, Japan, Germany, UK, France, Canada, and Italy had been present in the meeting held in Istanbul. G7 countries said world economy was improving; however, there is no room for satisfaction since the prospects of growth remain fragile and labor market conditions are yet improving. In US unemployment rush forward with the high of 9.8% in 26 year. Finance ministers of G7 assured to keep motivation spending in place until is recovered from recession. Timothy Geithner US Treasury Secretary uttered US economy has improved drastically needs to be fully established. Group of 20 consists of China, India, Russia, and Brazil.