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The relevance of the Group of 20 (G20), bringing together heads of government and multilateral institutions, has been questioned for some time. After its heroic performance in managing the global repercussions of the 2008-09 "transatlantic" financial crisis, the G20 has simply turned around significant challenges for the global economy, doing nothing of value. As a result, in recent years, the G20 has been the subject of persistent criticism. Many people see it as a place for further discussion and photo opportunity.
While G20 leaders have tried to stay relevant and focus on the issues that affect global economic growth and development, the fact is that on the eve of their summit once a week in Buenos Aires Aires, Argentina, the G20 is once again facing questions about its relevance to meeting the challenges of the day. Even worse, the G20 summit is likely to be reduced to a G2 event, a meeting between US President Donald Trump and Chinese President Xi Jinping.
In any case, the international media do not seem to be interested in the leader of the summit. agenda – future work, development infrastructure and future of sustainable food – and will remain largely focused on the Trump-Xi, Trump-Putin and Trump-Salman meetings. There could be parallel broadcasts like Trump's meetings with some key Western European leaders and with Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe. But for the Western media, it will be Trump's most important thing.
The irony is that the most important challenge to global economic stability is now being laid in an area that the G20 has refused to include in its initial agenda at the time of its formation in 2008-09, namely international trade. While the Director General of the World Trade Organization (WTO) is invited to the G20, multilateral trade has been deliberately kept outside the G20 framework so that the G7 can continue to manipulate the work program of the G20. 39; WTO.
Faced with the current challenges of US unilateral trade policy for global growth, the G20 will only discuss long-term issues such as the future of labor, infrastructure and infrastructure. Food, while the immediate trade-related problems arising from American unilateralism will be addressed. to be discussed in bilateral agreements in the margins. It would be a shame if the G20 were reduced to meaningless speeches for the whole meeting, leaving substantial discussions to bilateral discussions on the margins. This would be just another nail in the coffin of the G20.
Limiting trade policy issues to the margins of the G20 and not placing them at the heart of the Buenos Aires agenda will only enhance the image of the G20 summit as an opportunity to debate [19659007] US President Donald Trump and Chinese President Xi Jinping attend the bilateral meeting held at the G20 leaders' summit in Hamburg, Germany on July 8, 2017. Credit: Reuters / Carlos Barria
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Modi & # 39; s At the summit, the focus could also be on his meetings with Trump, Abe and other heads of government. However, Modi could play a constructive global role at the summit by demanding that all international trade policy issues become part of the G20 core agenda; that the issues arising from the trade war between the United States and China be debated at the summit; that the G20 must jointly consider the impact of the US-China trade war on various developing countries. India must speak on behalf of developing countries at the G20.
In fact, the G20 would address at least two of the three agenda items – the future of work and the future of sustainable food – ensuring that the global trading system remains free and fair. – & # 39; fair & # 39; for developing economies. Rather than turning the summit into a university seminar on alternative technologies for work, IA and others, responsible political leaders around the world should demand here and now a rules-based multilateral trading system that allows people to access jobs. This means, among other things, an urgent problem, such as the removal of barriers during migration. After all, restrictions on the movement of people have limited access to paid jobs.
World leaders at a previous G20 summit. Credit: Reuters
Even the third topic of the G20 – infrastructure development – is linked to the future of trade. Who would invest in cross-border connectivity if there is no guarantee of growth in cross-border movements of goods, services and people? In summary, even the official agenda items are trade-related.
The United States will of course try to appease some friendly countries by addressing some of their concerns and focusing on China. This would suit one country, including India, in the near future. However, in the medium term, multilateralism in trade must be reborn and the G20 must be the forum that ensures its realization. Trade must be on the agenda of the G20. This should be the message of India in Buenos Aires.
Sanjaya Baru was previously director of geoeconomics and strategy at the International Institute for Strategic Studies in London.
