The Hangzhu Summit: Why G20 Needs a Complete Reset

G20 nations represent about 85% of the global GDP and two thirds of the world’s population. G20 summits would be more meaningful if the leaders focus on a few issues and make a concerted attempt to solve them. Instead, as it happened this time in Hangzhou also, a large number of issues are discussed and then remain as mere platitudes. Rajat Nag suggests that given the people and the portion of the global GDP they represent, G20 summits are important, But they need an institutional structure of some kind to give the summits continuity and a narrower focus. They should try and focus on what they can effectively achieve: specifically issues of the global economy, growing inequality, etc.

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