I've been remiss in not linking to Brad Setser's semi-new blog. Brad and I overlapped at Treasury -- and his pay grade was much higher than mine. He subsequently spent at year at the Council on Foreign Relations and is the co-author (with Nouriel Roubini) of the just-released Bailouts or Bail-Ins: Responding to Financial Crises in Emerging Markets.

This post on China feeling its oats in the global economy is a good place to start. So is this one on the various replacements for the G-7 and their strengths and pitfalls.