Without great powers on board, G20 is adrift, Pg12

Key Highlights:

• The G20's relevance is declining due to the absence of major powers like the US, China, and Russia at recent summits.
• The group was formed in 2008 in response to the global financial crisis, with the first summit in Washington, D.C.
• Donald Trump's policies, including unilateralism and suggesting a G2 with China, have undermined the G20's importance.
• India welcomed the G20 initially, viewing it as a substitute for the lack of progress in UN reforms.

Detailed Insights:

• The G20 was created in response to the 2008 financial crisis when France and the European Commission sought a joint response with the US, recognizing China's growing economic influence.
• The initial G20 summits were effective in policy responses, creating new financial institutions and empowering existing ones, but later became less focused.
• The G20 has struggled to address global challenges like climate change, global trade, and migration, leading to its diminishing relevance.
• India's approach to the Quad may change based on the US's approach to East Asia and India's outreach to China.
• The East Asia Summit (EAS), which includes countries from East and Southeast Asia along with major global powers, is now a more important platform than the G20 or the Quad.

Key Concepts Involved:

• G20: A group of 20 major economies that meets to discuss international economic cooperation.
• Global South: Refers to countries in Asia, Africa, and Latin America, often with developing economies.
• Multilateralism: The principle of cooperation and collaboration among multiple countries on various issues.