It is difficult to see what leaders will be able to agree on when they gather for their meeting in New Delhi this week
, will have the unenviable task of forging agreement between the world’s biggest developed and developing countries when G20 leaders gather in Delhi for their annual summit later this week.
It wasn’t always this way. The group dates back to the late 1990s but came of age a decade later during the global financial crisis, when rich and poor countries worked together to mitigate the impact of the slump that followed the near-collapse of the global banking system. There are a number of reasons for this. The first involves the structure of the G20, which has a diverse membership and a presidency that rotates each year, but lacks a permanent secretariat. This lends itself to summits that offer photo opportunities and bilateral chats rather than decisions. Modi wants toof the G20 to include the African Union, which would make the group more representative but even more unwieldy.
and are economic rivals. Modi is actively seeking to build stronger economic ties with the US and is eager not to take sides in the new cold war that has developed between Washington and Beijing.The third problem is that the G20 was created to manage globalisation, but globalisation. As Dario Perkins of TS Lombard puts it: “De-globalisation is real and gaining traction, despite the resilience of global trade over the past three years.
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