Nouriel Roubini has been talking about a G0 world - after the G7, G8, and G20 stopped making much difference or making much sense. The danger as I see it is that the Euro is pushing the UK and Scandinavia out and forcing the continent to integrate. Russia may join, even without a Russian stooge in Berlin, and so will the Southern Mediterranean.
The UK is converging to N America, probably Japan and the Pacific as well. If China and the rest of East Asia take Africa, they win the game of Risk. Else it's 1984 with a few decades delay.