Big emerging economies such as China, India and Saudi Arabia will not aid the West in its financial crisis unless they are given more influence in running the global economy, a senior figure from Saudi Arabia's ruling establishment said on Monday.
"The financial crisis and great recession were born in the West, developed in the West yet hit hard throughout the world," former Saudi intelligence chief Prince Turki al-Faisal said in a speech to a business conference in Riyadh.
He said this showed the need to give emerging economies more representation and more authority in global bodies such as the Group of 20 nations, a forum of the world's major industrialized countries, and the Financial Stability Board (FSB), which discusses regulation of banks and financial markets.
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