As demonstrators shouted their grievances in the streets nearby, world financial leaders met Sept. 24-25 in Pittsburgh to discuss how to avert economic cataclysm. The Group of Twenty (G-20) is a body of representatives of the world’s nineteen largest economies, in addition to a group representing the European Union. Their principal task is to reform the international banking system to help the world economy recover from the credit crisis and prevent a similar one in the future.

They have convened twice before to discuss this issue; in Washington, D.C., in November 2008 and in London in April of this year.

“(In 1929 and 1930) first the banks broke down and then the crisis spread to the rest of the economy,” said Voehringer Professor of Economics Robert Williams, illustrating the historical parallels between the current economic predicament and what became the Great Depression.

Williams went on to say how that financial disaster was worsened by rampant protectionism and a lack of cooperation between the major economies of the world. Luckily, the G-20 representatives pledged in November to coordinate efforts and avoid overly self-interested measures such as high tariffs.

The role of the International Monetary Fund (I.M.F.) was also a key topic at the summit. The I.M.F. has the power to give financial aid to struggling nations, in return for changes in economic practices. European officials announced that voting power within the I.M.F. would be shifted in the favor of developing economies, such as India and China.

“Some countries will have a greater effect on others in their region,” noted Iqra Sheikh, an economics graduate of Randolph College. “For instance, economic changes in India will extend to Pakistan, Bangladesh, and Nepal.”

The most notable decision reached at the summit was that that G-20 established itself permanently as the primary international organization to address economic administration. Representatives from developing countries have also praised this step as allowing a shift of power away from the countries of Europe and North America, which have been seen to dominate global economic policy in the past.

“The (inclusion) of nations such as Mexico, Saudi Arabia, Turkey, and several other countries shows that the G-20 works to at least gain a reasonable sampling of the world’s various economies,” said sophomore Zach Lynn.

Outside of the conference rooms, very different events were unfolding in the city streets. Protesters from across the country had come to demonstrate their criticisms of the summit and the countries and organizations therein. Complaints ranged from opposition to I.M.F. policies to exposition of China’s human rights abuses in Tibet.

In the days preceding the summit, the anarchist Pittsburgh G-20 Resistance Project, the largest protesting organization, made it clear that they expected the protests to turn violent. More shockingly, the group hinted that it might even initiate the clashes itself.

“(We desire) a quantifiable military victory over the forces of law and order,” read one article on the Project’s Web site.

Such rhetoric could be interpreted as an exhortation to violence, if not an outright physical threat against Pittsburgh law enforcement.

The city responded accordingly, beefing up police presence by 25 percent, according to The New York Times, and setting aside approximately 1,000 jail cells.

Sept. 24 saw protesters attempt an unauthorized march to the David L. Lawrence convention center, which was the main venue of the summit. A number of police blocked their way, and after a standoff, fired tear gas to disperse the crowd.

The next day’s protests were significantly more peaceful.

As Williams pointed out, international negotiation and cooperation is essential in this time of uncertainty. Summits like this one may be one of many key steps to bring the worldwide economy back from the brink.