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1. United G20 must pave the way for robust post-COVID-19 recovery

Author:
Phil Thornton
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The world is facing unprecedented health and economic crises that require a global solution. Governments have locked down their economies to contain the mounting death toll from the COVID-19 pandemic. With this response well underway, now is the time to move into a recovery effort. This will require a coordinated response to the health emergency and a global growth plan that is based on synchronized monetary, fiscal, and debt relief policies. Failure to act will risk a substantial shock to the postwar order established by the United States and its allies more than seventy years ago. The most effective global forum for coordinating this recovery effort is the Group of 20 (G20), which led the way out of the global financial crisis (GFC) in 2009, the closest parallel we have to the current catastrophe. Eleven years ago, world leaders used the G20 meeting in London as the forum to deliver a unified response and a massive fiscal stimulus that helped stem economic free fall and prevented the recession from becoming a second Great Depression. A decade on, it is clear that the G20 is the only body with the clout to save the global economy. This does not mean that the G20 should be the only forum for actions for its member states. The United States, for example, should also work closely with like-minded states that support a rules-based world order, and there are many other fora where it can and must be active with partners and allies. But no others share the G20’s depth and breadth in the key focus areas for recovery. The other multilateral organizations that could take up the challenge lack either the substance or membership. The United Nations may count all countries as members but is too unwieldly to coordinate a response. The International Monetary Fund (IMF) has the resources but requires direction from its 189 members. The Group of Seven (G7), which once oversaw financial and economic management, does not include the fast-growing emerging economies. The G20 represents both the world’s richest and fastest-growing countries, making it the forum for international collaboration. It combines that representation with agility.
Topic:
Security, Energy Policy, G20, Global Markets, Geopolitics, Economy, Business, Trade, Coronavirus, and COVID-19
Political Geography:
China, Middle East, Canada, Asia, Saudi Arabia, North America, and United States of America

2. A Canadian Primer to the G20 Summit in Osaka, Japan, June 28-29, 2019

Author:
Colin Robertson
Publication Date:
06-2019
Content Type:
Special Report
Institution:
Canadian Global Affairs Institute (CGAI)
Abstract:
On Friday, June 28, Japanese Prime Minister Shinzo Abe hosts the leaders of the 19 major economic nations and the European Union in Osaka, Japan. As G20 finance ministers noted after their meeting earlier this month “growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified.” Created in the wake of the 2007-2008 “Great Recession”, the G20 is economic multilateralism at work, an insurance policy to prevent globalization going off the rails. This 14th G20 summit is the culmination of a year-long series of ministerial meetings, hosted throughout Japan. G20 leaders are a diverse group – liberal democrats, authoritarians and autocrats. While the plenary sessions are the point of the meeting, attention will be on the interactions between U.S. President Donald Trump and Chinese President Xi Jinping. Can they start to undo their trade war or will tariffs continue to escalate? While the focus is geo-economics, the geopolitics are always present. After abandoning the nuclear deal with Iran, the Trump administration has re-imposed sanctions and tensions have risen with recent actions, attributed to Iran, against container ships and a U.S. drone. China continues to muscle into the South China Sea. HMCS Regina and MV Asterix recently transited the Straits of Taiwan and sailed into these international waters. Russia still occupies parts of Ukraine. Ukraine now has a new president and parliamentary elections are underway. Canada hosts the third Ukraine Reform Conference this July in Toronto. There is little discernible progress in the U.S.’s negotiations with North Korea over its nuclear and missile capacity. Canadian ships and aircraft are part of the international sanction efforts on North Korea. Conflict continues in Yemen, Syria, Iraq, Afghanistan and Central Africa and famine ravages parts of Africa. The United Nations High Commissioner for Refugees reports there are over 70 million displaced persons. Among them are 25.9 million refugees, over half of whom are under the age of 18. With millions of stateless people not just in the Middle East and Africa, but in Asia and Latin America, it is estimated that one person is forcibly displaced every two seconds. Canada resettled more refugees than the United States in 2018, the first time the U.S. did not lead the world on this measure in decades. Human rights are also part of the backdrop. China has said it will not permit any discussion of the Hong Kong situation because it is China’s “internal affair”. According to the UN Special Rapporteur, there is “credible evidence” that Prince Mohammad bin Salman, a participant at the G20, is liable for the killing of Washington Post columnist Jamal Khashoggi. Saudi Arabia is to host next year’s G20, but does this not give de facto impunity to MBS?
Topic:
G20, Geopolitics, Multilateralism, Trade, and Primer
Political Geography:
Japan, Canada, and North America