G20 moving away from economic issues

By Vestnik Kavkaza
G20 moving away from economic issues

Washington does not rule out the possibility of a dialogue between the Russian and US presidents, Vladimir Putin and Barack Obama, at the G20 summit, the Assistant to the US President for National Security Affairs, Susan Rice, said. It would be an informal meeting. Before the G20 summit, Putin will hold a final meeting in Sochi with the permanent Security Council members who have completed a series of meetings on the issue of military-industrial complex. "It is obvious that this meeting will be very important, because it will be on the eve of the G20 starting on Sunday in Antalya, and the summit itself, and numerous bilateral meetings are planned," Putin's press secretary Dmitry Peskov said.

As suggested by the еhe head of the research group of the world economy of the Center for Macroeconomic Analysis and Short-Term Forecasting, Alexander Apokin It is significant that the G20 summit will be preceded by a meeting of the leaders of the BRICS countries on the sidelines of the G20 summit. Since the coordination in the countries of global north, as we know perfectly well, including through international institutions, is built much better than in the countries of the global south. This is caused by cultural characteristics and much longer history. And, accordingly, by much higher level of economic development. What are the risks? There are a number of international institutions, as we know, which are forming the global financial architecture and global trade architecture that, in general, were created for the development of countries after World War II. And to a large extent, this structure is essentially Atlantic. But now, it has straightened, and this should be reflected in the architecture of the global governance. "

Apokin said that in China, for example, there is an alternative structure: "China, accordingly, has an alternative structure, which will be built around the SCO, in the field of security. In the economic field it will be built around the project of the Economic Belt of the Great Silk Road, which is now announced, and, accordingly, various bilateral formats of cooperation. And the problem here is not that there is competition between these standards, but that the global standards that previously existed, roughly speaking, under the Atlantic umbrella, are being destroyed. And the competition starts here. It was quite rightly pointed out that the reform of the IMF stands idle. Just like the reform of the World Bank, although the progress there is a little more noticeable. In parallel, alternative development institutions are being created, which, as it turns out, are interesting for the developed countries as well. First of all there is the Asian Infrastructure Investment Bank, and well, let's see how the BRICS bank will work. By size it is comparable with the Asian Infrastructure Investment Bank and World Bank. Therefore, the agenda of the G20 could be the interaction of these groups for the development of new global rules. "

According to the expert, the global economic agenda has become less important: "I highly doubt that the agenda will have issues of cooperation between trade unions, which currently, by their amount, cover almost the entire volume of international trade. That is, there is a closed Atlantic direction, a closed Pacific direction, and essentially there is a project that encircles Eurasia. Basically, in general, it covers the entire volume of international trade. Most likely non-economic issues will be discussed as a priority. Refugees, social issues, issues of long-term development, which in their essence are more social, than economic. "

Apokin predicts the expansion of the G20: "it can be expected that the G20 will turn into the G50, and then basically all structures will duplicate the UN."

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