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The G20 Can Use the Current Crisis To Its Advantage
As we enter a more complex phase of the economic, geopolitics and climate crises, the Group of Industrialized countries G20 prepares to host its annual in person summit in November 2022 under the leadership of Indonesia President. The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. These countries account for 80% of global economic output, 75% of exports and 60% of the world population.
While the Presidents and Prime Ministers of these countries have been meeting annually since 1999, except for the 2008 financial crises, the G20 has become a little more than a photo opportunity. Last year G20, the first in person meeting since Covid started, hosted by the Italian Prime Minister, did not move the needle of international cooperation.
This time is different
Under the Indonesian Presidency, the G20 will meet in Bali, after the Egypt Climate Summit COP27, to promote the Indonesia selected theme, ‘Recover Together, Recover Stronger’. The Indonesia President wants this summit to be actionable and to accelerate the global economic recovery while investing in a more health resilience marketplace. The G20 will also stick to its agenda of accelerating…
