Globalisation and Transformation

Corporate lobby groups have created a broad network of influence channels around the G20, with the Business20 (B20) at its core. At the G20 Sherpa meeting in Frankfurt on 23-24 March the B20 presents its policy recommendations to the governments. It is time to counterbalance the corporate influence in the G20.

Apart from the G20’s apparent lack of effective strategy and implementation of its own pledges, its growth vision lacks full coherence with sustainable development. Instead of wishfully hoping to retrace an economic growth trajectory of the past, the G20 should advance coherent sustainable development.

An interview with migration expert Amr Taha. He is heading the office of International Organization of Migration in Egypt. In the interview, he talks about Egypt as a host country of migrants and refugees, as well as a point of departure for migrants heading to Europe.

The G20 is promoting a new investment paradigm for itself and inviting the world to follow suit. What are the stated G20 goals and commitments in relation to this topic? What does “investment” mean? What is the progress so far and what are the challenges in relation to this topic? What is the desired future direction of the G20 with respect to the topic?

The scale of the infrastructure and PPP initiative championed by the G20’s national and multilateral banks could privatize gains and socialize losses on a massive scale. The G20 should take steps to ensure that this scenario does not unfold.

Trade has contributed to inequalities in many countries. Therefore the G20 should ensure that its trade agenda does not conflict with that of the WTO or the United Nations. Many processes need to be revised to reduce so inequalities can be reduced.

Seven “Engagement Groups” circle around the G20 and attempt to influence its decisions. However, their relative power to influence outcomes differs greatly.

The Ebola crisis prooved, that the G20 aims to ensure infectious agents to not cross borders rather than acting in disease prevention. This is why there is a serious concern that public health needs of poorer countries will be ignored.

The G20 Hamburg Summit in July 2017 will be about nothing less than how globalization should be governed in the future. The G20 countries will have to respond to the key question of our times: How should a globalized world economy be coordinated for the benefit of all humanity against the backdrop of economic uncertainty, higher levels of inequality, climate change, refugees and migration?

G20 governments are spending $444 billion every year to support fossil fuel production. These financial flows are limiting the expansion of renewable energies that could curb global warming and meet a variety of sustainable development goals.