In The News

Global Call for Action

April 9, 2020
More than 200 political leaders, economists, academics and directors of NGOS have issued a call to action from G20 governments, urging immediate global coordination and emergency measures for addressing the COVID-19 pandemic and economic crisis. Both crises “require world leaders to commit to funding far beyond the current capacity of our existing international institutions,” explains the letter...

Inept Multilateral System: Council on Foreign Relations

Stewart M. Patrick April 1, 2020
With COVID-19 sweeping the globe, “international cooperation has been missing in action and global solidarity has been AWOL,” reports the Financial Times. Instead of confronting the shared threat, countries take unilateral steps to protect themselves, exchanging blame for the pandemic. The Group of Seven, Group of Twenty and the United Nations have taken limited actions. The G7 finance ministers...

One World, Two Systems: Times of India

Nayan Chanda July 16, 2019
The world’s major economies have extraordinary power to promote policy initiatives though the G20 summit in Osaka may be “remembered for ushering in the birth of a ‘one world two systems’ global order,” explains Nayan Chanda, YaleGlobal’s founding editor, in his Times of India column. He adds that growing rivalry on multiple levels could make conflict more likely. The Chinese and US presidents...

G-20 and Taxation Rules for Digital Giants: Kyodo

June 7, 2019
The world’s major economies agreed in a draft statement to accelerate tax collection from multinational digital companies like Google and Facebook. “The G-20 finance ministers and central bank governors will also warn that the world economy continues to face downside risks from trade conflicts between leading economies, while calling for accommodative monetary policy to ensure the economy is...

RSIS: G20 and Time for Greater Multilateral Role

Pradumna Bickram Rana and Xianbai Ji December 4, 2018
The world’s 20 largest economies have met annually for 10 years, since the 1997-1998 Asian financial crisis, to plan economic cooperation. At this year’s summit in Argentina, the US and Chinese presidents agreed to a 90-day pause on the trade war and continue negotiations. The United States will delay raising tariffs on $200 billion worth of Chinese goods. G20 leaders also supported “necessary...

Asia Times: Asia Cowers as Trump Battles Xi

William Pesek November 30, 2018
The world’s 20 largest economies gather in Buenos Aires for the G20 summit. Participants include the European Union and 19 nations, seven of which are in Asia. Asian nations worry about the ongoing trade fight between China and the United States, along with the threat of more tariffs, could trigger inflation and global recession. “The China-US trade brawl is the economic equivalent of giant...

Bloomberg: Global Economy Feels Lehman Fallout 10 Years Later

Simon Kennedy and Sam Dodge September 17, 2018
Investments in subprime mortgages and the collapse of Lehman Brothers contributed to the 2008 financial crisis with global economic and political fallout due to stalled growth and increased government intervention. The consequences linger today worldwide with increased debt, wage stagnation, widening inequality and lingering unemployment in some nations. “The deepest international recession since...