Podcast

Deep Focus: The G20 in a changing world order

In this episode of Deep Focus, Bruegel fellow Suman Bery joins Sean Gibson to elaborate on his recent Policy Contribution on the G20's performance over the past decade, and the forum's future prospects.

By: Date: November 20, 2018 Topic: Global economy and trade


In November 2008, the first G20 summit at the leaders’ level took place amid the global financial crisis. The admittedly ambitious undertaking has since played its role in stabilising the global economy throughout the aftershocks of the crash. Today, the global order looks much different to the one in which the G20 found itself 10 years ago. How has the institution evolved and is it still equipped to create a supportive political environment for strong national and global actions?

In this episode of Bruegel’s Deep Focus series on ‘The Sound of Economics’, Suman Bery reviews the G20’s performance over the past decade to identify the challenges for the future. After the initial success, he identifies a sense of complacency that has seemingly crept into the global forum. Moreover, the emerging and developing economy members have remained observably passive, which may reflect their discomfort at their perceived systemic importance despite lower levels of income.

A further challenge for the G20 arises from Donald Trump assuming the US presidency in 2016, and the following tendency to drift away from multilateralism in favour of bilateral trade. The upcoming summit in Buenos Aires may be revealing in terms of just how much the G20 depends on American leadership. Another question remains about what potential the EU has as a future leader within the institution. One thing is certain: to champion a comprehensive approach, the G20 must conceive a set of rules that closer reflects the changing world.

For further reading we suggest not only the Policy Contribution written by Suman Bery – ‘The G20 turns ten: what’s past is prologue‘ – but also the blog post of Jim O’Neill and Alessio Terzi, outlining a proposal for a reformation of the G7.

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External Publication

Chinese economic statecraft: what to expect in the next five years?

Chapter from 'Storms Ahead: the Future Geoeconomic world order' on the expectations from the next five years of Chinese economic policy, published on 27 October 2021.

By: Alicia García-Herrero Topic: Global economy and trade Date: October 27, 2021
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Phasing out COVID-19 emergency support programmes: effects on productivity and financial stability

How can European countries phase out the COVID-19 support measures without having a negative impact on productivity and financial stability?

Speakers: Maria Demertzis and Laurie Mayers Topic: Macroeconomic policy
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Opinion

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The inconsistency in global strategic relations

All of this talk on strategic retrenchment and autonomy is the language of escalation, not of appeasement and collaboration.

By: Maria Demertzis Topic: European governance, Global economy and trade Date: October 13, 2021
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European governance

Pandemic prevention: avoiding another cycle of ‘panic and neglect’

Agreement is needed at international level on mechanisms to ensure better preparedness for the next pandemic.

By: Anne Bucher Topic: European governance, Global economy and trade Date: October 7, 2021
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By: The Sound of Economics Topic: Digital economy and innovation, Inclusive growth Date: October 6, 2021
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A world recovery fund to overcome developing countries’ post-covid debt woes?

Proposal to set up a World Recovery Fund (WRF), aimed at addressing some of the key problems with the design of the DSSI and more generally the existing international financial architecture for dealing with debt problems in the developing world.

By: Alicia García-Herrero Topic: Global economy and trade Date: October 6, 2021
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Although economics and geopolitics have never been completely separate domains, international economic relations were shaped for 70 years by their own rules. But the rise of China and its growing rivalry with the United States have brought this era to an end.

By: Jean Pisani-Ferry Topic: Global economy and trade Date: October 4, 2021
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The new German government should play its part in global health security and preparedness.

By: Amanda Glassman and Guntram B. Wolff Topic: Global economy and trade Date: September 24, 2021
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