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Hamburg summit: the end of the G20’s days as a “premier forum for international economic cooperation”?

Jesse Griffiths

11 Jul 2017 16:59:06

The strangest aspect of the G20 communiqué, and the part that has dominated media coverage, is the section on the Paris climate agreement.  The strangeness arises not because of the topic – the G20 has always played second fiddle to the UN on climate issues – but because, for the first time, a whole paragraph is devoted solely to one member, the USA, explaining why it doesn’t agree with the others, followed by a paragraph by the others explaining why they will go ahead without the USA anyway, including through agreeing a “G19” action plan on energy and climate for growth.   The climate change issue is a jarring symbol of the G20’s difficulty in reaching agreement. However, the Trump administration’s ‘America first’ stance and resulting lack ...

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Fixing the Financial Sector: Is the G20 Helping Developing Countries?

Jesse Griffiths

25 Jun 2015 14:54:19

Article also published in Heinrich Boell Stiftung's G20 and BRICS Update E-Newsletter.  The G20’s track record on financial sector reform is uninspiring, and its failure to tackle the major concerns of developing economies or make the global financial system less prone to crisis suggests it is time to start searching for a more effective and more legitimate successor.  The following three graphs tell us three important things about changes to the financial sector since the global economic crisis. The first graph, from an excellent paper by Yilmaz Akyüz, chief economist of the intergovernmental think tank, the South Centre, shows that financial assets (that they own overseas) and liabilities (that foreigners own in their countries) of emerging and developing economies ...
G20: what was achieved in 2014? The leaders of the G20 group of nineteen large economies plus the European Union met in Brisbane in November last year, capping off a year during which rhetoric significantly overshadowed achievements. Eurodad’s wrap ...
The communiqué from this weekend’s G20 finance ministers’ meeting in Cairns tried to paper over increasingly evident cracks in the global economy, trumpeted an OECD initiative to reduce tax dodging which is not as good as it seems, continued to focus ...
The G20 leaders' summit, concluded on 6 September, saw economic policy pushed to the sidelines by division over Syria, concealing the fact that many pressing issues, including dealing with sovereign debt crises ...
G20 finance ministers’ wrapped up their meeting in Moscow on 20th July, but their communiqué reveals only limited progress on tackling tax dodging, no attempts to put in place permanent solutions to sovereign debt crises, and a potential focus on volatile ...