The world moves on sans us leadership

The world moves on sans us leadership

The G20 process was initiated with American leadership, when President George Bush convened the first gathering of the world’s 20 largest economies, following the outbreak of the global financial crisis of 2008. At its 12th summit in Hamburg, the grouping has effectively decided to move ahead without American leadership. The leaders pledged to work together on issues such as terrorism, displacement, poverty, hunger and health threats, job creation, climate change, energy security and inequality. German chancellor Angela Merkel is the pre-eminent leader of the group now. China has thrown its hat into the ring. India, however, has the best chance to shine.
The leaders’ declaration notes US withdrawal from the Paris Agreement on climate change, but reaffirms commitment by the rest to implement the climate agenda. The G20 declaration recognised that while globalisation and technological change have contributed to driving economic growth and raising living standards across countries, its benefits have not been widely shared. It is in this context that G20 leaders decided to address issues such as resource efficiency, digital transformation and gender equality.
The forum reiterated its commitment to open markets, and importance of reciprocal and mutually advantageous trade and investment, while fighting protectionism and unfair trade practices. A key achievement of the German presidency is the African partnership.
The G20 process is reflection of the dynamic that resolution of several of today’s global problems call for coordinated efforts by nations, in today’s interdependent world. These range from terrorism, protectionism in trade, climate change and resource efficiency, and global pandemics. That process will continue, with or without the US.