G 20 globalisation and its discontents

G 20 globalisation and its discontents

The G20 Osaka Summit served to remind the world not just of the challenges it confronts — climate change, protectionism, liberalism’s discontents — but also that we are living in a quarrelsome world. Despite President Donald Trump’s all-too-recognisable swagger, the US’s continuing retreat from global leadership was on full display. Washington successfully resisted any reference to protectionism in the Leaders’ Communiqué — with G20 leaders agreeing to “continue to address risks and stand ready to take further action”. On climate change, faced with pushback led by French President Emmanuel Macron, the US was, in a repeat of the Hamburg and Buenos Aires summits, unable to omit references to the Paris Agreement.

For India, the summit provided a clearer idea of the role it can play to further the needs and concerns of developing countries, whether stressing on the “role of data in development” or presenting alternative perspectives on issues such as free flow of data. G20’s support for necessary reform of the WTO, especially the dispute resolution mechanism, is another area where India needs to feel less shy.

Even as critics are raising questions about its continuing raison d'être, fora such as G20 are important to ensure the smooth functioning of the multilateral world order based on principles of free trade, openness and transparency. Despite past gains, though, it is being undermined by the rise of authoritarianism and disenchantment from some quarters with globalisation. Global cooperative effort is essential to addressing challenges such as climate change, and delivering on the promise of technology. India, along with partners such as Japan, France and Germany, must ensure that the concerns of countries across the economic and social spectrum are reflected by G20 in a fair, transparent, predictable and stable manner.