G20 Summit Hailed Multilateralism Amid Fractured World Order and US Disengagement
Leaders from major economies gathered in South Africa over the weekend to discuss how the G20 can survive a world order increasingly fragmented by "go-it-alone" policies, wars, and deepening rivalries. The summit, boycotted by the United States, saw dozens of leaders from Europe, China, India, Japan, Turkey, Brazil, and Australia attend, highlighting the growing divisions between nations.
The Canadian Prime Minister Mark Carney acknowledged that the world is experiencing a "rupture" rather than just a transition, with many countries retreating into "geopolitical blocs or the battlegrounds of protectionism." However, he stressed that "nostalgia is not a strategy," emphasizing the need for cooperation and collective action.
The G20's relevance was reaffirmed by South African President Cyril Ramaphosa, who said the summit showed multilateralism was still alive despite its challenges. In a joint statement, the leaders acknowledged rising geopolitical and geo-economic competition, heightened conflicts, deepening inequality, and global economic uncertainty, as well as fragmentation.
French President Emmanuel Macron urged the G20 to refocus on economic priorities, while acknowledging that "the centre of gravity in the global economy is shifting," with emerging economies and the global South playing a growing role. Carney agreed, saying that bringing emerging powers and developing countries into the G20 had helped neutralize the absence of the US.
The summit's declaration was issued despite Washington objecting to it being signed on behalf of the G20, citing the need for greater alignment with US policies. Oxfam charity welcomed South Africa's example in ensuring a unified statement defending multilateralism despite opposition.
As the G20 prepares for its next meeting under French presidency, Macron warned that "the G20 may be coming to the end of a cycle," and needs to refocus on strategic economic issues. However, Carney's comments suggested that the summit had provided a lifeline to multilateralism, breathing new life into it.
The significance of the summit was underscored by the absence of US President Donald Trump's administration, which cited South Africa's priorities as being at odds with its own policies. The US has been increasingly retreating from multilateral forums, stoking trade volatility and reversing commitments to fight global warming.
Leaders from major economies gathered in South Africa over the weekend to discuss how the G20 can survive a world order increasingly fragmented by "go-it-alone" policies, wars, and deepening rivalries. The summit, boycotted by the United States, saw dozens of leaders from Europe, China, India, Japan, Turkey, Brazil, and Australia attend, highlighting the growing divisions between nations.
The Canadian Prime Minister Mark Carney acknowledged that the world is experiencing a "rupture" rather than just a transition, with many countries retreating into "geopolitical blocs or the battlegrounds of protectionism." However, he stressed that "nostalgia is not a strategy," emphasizing the need for cooperation and collective action.
The G20's relevance was reaffirmed by South African President Cyril Ramaphosa, who said the summit showed multilateralism was still alive despite its challenges. In a joint statement, the leaders acknowledged rising geopolitical and geo-economic competition, heightened conflicts, deepening inequality, and global economic uncertainty, as well as fragmentation.
French President Emmanuel Macron urged the G20 to refocus on economic priorities, while acknowledging that "the centre of gravity in the global economy is shifting," with emerging economies and the global South playing a growing role. Carney agreed, saying that bringing emerging powers and developing countries into the G20 had helped neutralize the absence of the US.
The summit's declaration was issued despite Washington objecting to it being signed on behalf of the G20, citing the need for greater alignment with US policies. Oxfam charity welcomed South Africa's example in ensuring a unified statement defending multilateralism despite opposition.
As the G20 prepares for its next meeting under French presidency, Macron warned that "the G20 may be coming to the end of a cycle," and needs to refocus on strategic economic issues. However, Carney's comments suggested that the summit had provided a lifeline to multilateralism, breathing new life into it.
The significance of the summit was underscored by the absence of US President Donald Trump's administration, which cited South Africa's priorities as being at odds with its own policies. The US has been increasingly retreating from multilateral forums, stoking trade volatility and reversing commitments to fight global warming.