Twentieth G20 for a fractured globe

THE G20 summit, expected to be held on November 22 and 23 in Johannesburg, is set to take place during a period of significant global change.

- ADVOCATE LAVAN GOPAUL

DONALD Trump has threatened to boycott the G20, says the writer.

(PETER ZAY / AFP)

South Africa has accepted the G20 presidency from December 1, 2024, to November this year.

The world is grappling with the lingering aftershocks of a pandemic, escalating climate disasters, a war in Europe and the Middle East.

The ripple effect has disrupted global energy and food supplies, leading to a troubling drift towards geopolitical blocs.

Amid this backdrop, the summit, under the theme “Building a resilient and stable global south-backed economy”, is a critical test for whether the world’s premier forum for international economic cooperation can still function and lead effectively.

It began as a forum for finance ministers and central bank governors in 1999 and quickly evolved into its current format as a forum for leaders. The G20 was created during the crisis. In the wake of the 2008-2009 global financial meltdown, it proved its worth by coordinating a unified response and averting a second great depression.

Many believe that its strength has been underpinned by its inclusivity, considering the forum brings together wealthy Western powers with dynamic emerging economies, such as China, India, Brazil, and the host, South Africa. However, the consensus that enabled that 2008 response no longer seems to have weakened. The Ukraine conflict has created a deep divide within the group, notably the G7 nations grouped against Russia, a G20 member.

Last year’s summit in Bali saw this division unfold publicly, and the challenge of producing a joint communiqué that satisfies all parties has almost become a mission impossible.

The premise of a G20 that shares economic interests and is able to transcend political differences, is now under threat. Under South Africa’s tenure, the G20 will focus on issues of universal concern, particularly those vital to the global south.