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Begin New Search Topic G20 Political Geography Global Focus

1. How the G20 can hasten recovery from COVID-19

Author:
Maurice Obstfeld, Adam S. Posen, Olivier Blanchard, Chad P. Bown, Cullen S. Hendrix, Ana González, Simeon Djankov, Anne-Laure Kiechel, Anna Gelpern, Sean Hagan, Adnan Mazarei, Christopher G. Collins, Simon Potter, Edwin M. Truman, and Joseph E. Gagnon
Publication Date:
04-2020
Content Type:
Special Report
Institution:
Peterson Institute for International Economics
Abstract:
The world's leading economic powers must cooperate more to combat the health and economic shocks resulting from the COVID-19 pandemic. In a new PIIE Briefing, Peterson Institute experts outline how collective action by the Group of Twenty (G20) nations can make a difference. The PIIE agenda includes removal of trade barriers impeding the flow of medical supplies and food, and more money for research, testing, and disease control, especially for debt-burdened low-income countries. The World Bank and the World Health Organization need more resources to relieve suffering, and the International Monetary Fund must step up to stabilize the world financial system.
Topic:
Economics, Health, World Health Organization, International Monetary Fund, World Bank, G20, and Coronavirus
Political Geography:
Global Focus

2. Global Forums: Are They Must or Waste for the Global Governance?

Author:
Gülen Derya Zayim
Publication Date:
02-2019
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
The age of globalization has brought about interdependency between the nation-states in all aspects of life while uncovering challenges for the sovereignty of the nations. Therefore, how an integrated world system involving multiple actors can efficiently be governed remain a subject of serious discussions. This study briefly explains the historical background of G7/8 along with its evolution to G20 and discusses their effectiveness and legitimacy in the context of global governance. It is worthy to discuss the issue since these global forums’ legitimacy and effectiveness subject to both critics and praises. Although the lessons from the global financial crisis consolidates the idea of global coherence, integrity and compliance, diverging political and economic conflict of interest of nations still make the international forums’ existence and future position in global governance open to discussions. Additionally, the last part of the study draws conclusion about Turkey and its place in global governance.
Topic:
Sovereignty, Financial Crisis, Governance, and G20
Political Geography:
Turkey, Middle East, Global Focus, and Mediterranean

3. The Collapse of Multilateral Trade Negotiations in Cancún

Author:
Ayçe Sepli
Publication Date:
12-2019
Content Type:
Journal Article
Journal:
Novus Orbis: Journal of Politics & International Relations
Institution:
Department of International Relations, Karadeniz Technical University
Abstract:
The Doha Round or the Doha Development Agenda (DDA), which was officially launched in 2001, is the very first trade round of the World Trade Organisation (WTO). Since developed and developing countries have different priorities and interests, the Doha Round has witnessed a series of deadlocks over ten years until the Bali Ministerial Conference in 2013. The first deadlock occurred at the Cancún Ministerial Conference in 2003. The primary points of dispute between developed and developing countries were agriculture and the so-called Singapore issues. This study investigates the Cancún Ministerial Conference as it is a remarkable example of how participant countries strive to secure their interests even at the expense of the collapse of the multilateral trade negotiations. In that regard, this study aims to examine the opposing negotiation behaviour has witnessed and determine how their insistence on different proposals lead to the failure of trade negotiations in Cancún. The primary argument of this study is that developing countries’ common stance and the creation of so-called G-20under the leadership of Brazil, along with India and China, prove the triumph of these countries as they succeeded to block any agreement that disrupts their interests at the Cancún Ministerial Conference. Although the Cancún failure damages the Doha Round of multilateral trade negotiations, developing countries appreciate their coherent coalition strategies, which trigger the shift in the balance of power within the WTO in their favour.
Topic:
G20, Multilateral Relatons, Negotiation, Trade, and WTO
Political Geography:
Global Focus

4. Assessing the Governance Practices of Sustainability Reporting

Author:
Jason Thistlewaite and Melissa Menzies
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
To promote climate change risk mitigation in financial markets, the Financial Stability Board (FSB) recently proposed the creation of a Climate Disclosure Task Force, coordinated through the G20, to develop standards for companies to disclose their exposure to climate change risks. With more than 400 existing disclosure schemes that employ a range of different standards to measure climate change risks and corporate sustainability, this task will be challenging. But the diversity of schemes also represents an opportunity to assess which practices are effective at improving corporate accountability for sustainability performance, as well as efficient at producing comparable reports that do not unfairly burden reporting organizations. This brief identifies the key categories of governance practices that must be addressed, how these divergent practices challenge end-users, and how the establishment of criteria that define effective and efficient reporting is a critical first step for the FSB and its Climate Disclosure Task Force.
Topic:
Climate Change, Energy Policy, Environment, Natural Resources, Governance, G20, Regulation, and Financial Markets
Political Geography:
Global Focus

5. The G20 and Global Governance

Author:
Stephen Kirchner
Publication Date:
10-2016
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The Group of 20 sees itself as “the premier forum for international economic cooperation” (G20 2009b). This article examines its evolution and performance, and member countries’ compliance with G20 summit commitments. The G20 evolved as a response to the shortcomings of its predecessor, the G7/8. Yet its creation allowed member countries to avoid confronting many of the problems that arose out of the earlier forum. The best defense of the G20 is that it is the only institution of its type, but it still consumes scarce political and diplomatic capital, sometimes to the detriment of the policy objectives to which it is notionally committed. In this article, I compare data on members’ compliance with G20 summit commitments to proxy measures of the quality of domestic policies and institutions. While the proxies predict G20 compliance, it turns out that G20 compliance has no power to predict subsequent changes in domestic policies and institutions. The main implication of this data is that international economic and political cooperation is a symptom, not a cause, of domestic policies and institutions. Improvement in domestic policies makes the best contribution to advancing the G20 agenda, but such improvements do not appear to depend on the G20 process.
Topic:
Economics, International Cooperation, Governance, and G20
Political Geography:
Global Focus

6. Cross-border Resolution of Financial Firms

Author:
Isabelle Duchane, Kateryna Dzaha, and James Supeene
Publication Date:
07-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The absence of an effective international regime for cross-border resolution of financial firms led to the disorderly failure of a number of global banks during the global financial crisis, at a high cost to taxpayers and global financial stability. Many jurisdictions still lack sufficient resolution powers and arrangements for cross-border cooperation. This brief proposes that the Financial Stability Board’s Key Attributes of Effective Resolution Regimes for Financial Institutions should be fully implemented within the Group of Twenty (G20) and expanded to include non-G20 states. The FSB should develop a series of model laws on cross-border resolution and endorse a multilateral memorandum of understanding containing reciprocal commitments among the signatories.
Topic:
International Trade and Finance, Financial Crisis, Reform, and G20
Political Geography:
Global Focus

7. Growth, Innovation and Trade in Environmental Goods

Author:
Céline Bak
Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Reporting on global trade in environmental goods would provide a comprehensive lens into diversification that will be needed for the transition to low-carbon economies, help countries benchmark the shorter- and longer-term impact of policies such as regulation and fiscal stimulus targeted at green growth, as well as innovation, and strengthen the G20 leaders’ commitment to inclusive and sustainable growth by providing visibility into the pace of investments to address climate change.
Topic:
Climate Change, Economics, International Trade and Finance, and G20
Political Geography:
Global Focus

8. Next Steps for the G20: Turkey 2015

Author:
Paul Martin, Thomas A. Bernes, Olaf Weber, Hongying Wang, and Kevin Carmichael
Publication Date:
11-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
On November 15-16, 2015, leaders of the world's major advanced and emerging economies will meet in Antalya, Turkey for the G20 summit. In this special report, CIGI experts present their perspectives and policy analysis on the key priorities facing the G20 at Antalya. The Right Honourable Paul Martin states that the multilateral institutions created to make globalization work should be a G20 priority. Thomas A. Bernes asks whether G20 leaders and the institutions that support them can articulate a “policy upgrade” that brings more credibility than last year’s Brisbane Action Plan. Olaf Weber argues that the next step for the G20 should be the development of policies and guidelines that help to manage climate change and financial risk in a prudential way. Hongying Wang examines China's rare opportunity as it assumes the presidency of the G20 to push for collective new thinking on how to establish a less fragmented and more coherent global framework for investment governance that balances the interests of different stakeholders. Finally, Kevin Carmichael suggests that the G20 should elevate gender balance to the top of its agenda.
Topic:
Economics, Emerging Markets, Globalization, Governance, G20, Financial Markets, and Turkey
Political Geography:
Global Focus

9. Post G20 Seoul Summit Meeting and East Asia

Author:
Yves Tiberghien
Publication Date:
08-2011
Content Type:
Working Paper
Institution:
East Asia Institute (EAI)
Abstract:
Since the 2008 financial crisis, the global economic system has entered a period of intense turbulence, higher systemic risk, and structural change. Many observers and policy-makers recognize the current period as a critical juncture , during which the system of global governance must be successfully upgraded to cope with increasingly globalized and volatile markets. In addition, the global system is undergoing a historic rebalancing in the distribution of power, a process marked by the rise of large emerging countries, primarily China, India, and Brazil. As a consequence, the share of OECD countries in the global GDP has shrunk from 60% to 50% between 2000 and 2011 (PPP basis). This new reality has empowered the new rising emerging economies to demand a larger say in global governance, as witnessed during the debates over the choice of a new IMF Managing Director in June 2011. By chance and also owing to its relatively careful initial design, the G20 Leaders Summit has emerged as the prime forum for the negotiation of changes in the global economic governance. In particular, the G20 represents a relatively stable equilibrium, due to its near equal balancing between developed OECD countries and emerging economies (nearly 10 to 10, depending how one codes Mexico and Korea). The G20 suffers somewhat from its large size, but at least enjoys support from most of its members due to its numerous opportunities for coalition-building and issue-specific balancing. It is true that the G20 in still in the process of proving itself and has to deal with many skeptics. Many analysts in Canada and the U.S. are quick to discount the G20 process as meaningless summitry among too many countries focused on widely divergent domestic agendas. Ian Bremmer and Nouriel Roubini both call this a G-zero situation. Likewise, many leaders in Japan, especially in the Ministry of Foreign Affairs, are very skeptical about the G20’s potential and Japan has broadly not yet accepted the G20 as the central game of global governance, preferring to it the well-established G8. Yet, the G0 or G8 or G193 are not functional options. They represent default realities without the ability to solve any of our global problems. Only the G20 is able to deliver the necessary political leadership to initiate the upgrading of global governance. For this reason, the majority of key countries (including Europe, China, Korea, and many in the U.S.) see the G20 as the core game of global governance and the best option for the enhancement of global cooperation and the restructuring of global institutions. After an interim summit in Toronto, the Seoul summit came at a critical moment when the future of the G20 was in the balance. By managing to deliver visible results and institutional milestones, the Seoul Summit played a key role in the gradual institutionalization of the G20. The Seoul summit provided significant momentum to the G20 and significant legacies. It can be seen as a second high point after the London summit.
Topic:
Diplomacy, International Cooperation, G20, Economic Cooperation, and Summit
Political Geography:
Global Focus