G20: SHAPING AN INTERCONNECTED WORLD (2017 | Issue 2)

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Germany's G20 Presidency

Driven by the motto “Shaping an interconnected world”, Germany is all set to host the G20 leaders’ summit this year on 7–8 July in Hamburg. What’s Up, Germany? gives you a quick overview of the 2017 G20 summit’s priorities.

Germany assumed the G20 presidency for a year on 1st December 2016. Under its presidency, it is looking to intensify international cooperation to ensure that globalisation benefits everyone. Its focus is on inclusive and sustainable growth.

GERMANY’S G20 PRESIDENCY
Plenty of Potential

THE 3 MAIN PILLARS OF GERMANY’S G20 AGENDA

ENSURING STABILITY

Considering the world economy has suffered major setbacks recently, there is an urgent need for a stable global economy to prevent sudden financial landslides. The German G20 presidency aims to achieve stability and resilience and promote dynamic economic growth through structural reforms in finance, employment, trade and investment.

IMPROVING VIABILITY FOR THE FUTURE

Good governance is essential to achieve sustainable development that will benefit all and ensure long-term preservation of the planet. During its presidency, Germany will work towards making the economy more fit for the future by addressing various issues: viable energy and climate strategies; digitalisation; better healthcare and management of health crises; and empowering women in the economy. One of its main priorities is to help ensure that the goals of the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change are achieved.

ACCEPTING RESPONSIBILITY

Germany intends to further strengthen the G20’s role as a forum of collective responsibility. In this context, achieving sustainable economic progress in Africa takes centre stage. A separate conference entitled “Partnership with Africa” was held in Berlin in June 2017. Migration, terrorism, corruption and money laundering will also be addressed during Germany’s presidency.

SPECIAL INVITEES


Apart from the G20 member countries, Germany has invited Singapore, Norway and the Netherlands as special guests, as well as the African Union (AU), the Asia-Pacific Economic Cooperation (APEC) and the New Partnership for Africa’s Development (NEPAD). The World Health Organization (WHO) has been invited for the first time, indicating the importance Germany is placing on healthcare and fighting pandemics.

EARLIER G20 SUMMITS: KEY FOCUSSES


2016: Hangzhou, China

Launch the Digital Economy Development and Cooperation initiative

USA and China agree to ratify the Paris Agreement on climate change on the sidelines of the summit

2015: Antalya, Turkey

Focus on tightening border surveillance and agree to share more intelligence

Endorse the Action Plan on Base Erosion and Profit Shifting (BEPS)

2014: Brisbane, Australia

Aim to boost global GDP by 2.1% by 2018

Endorse the Global Infrastructure Initiative

2013: St Petersburg, Russia

Focus on spurring global economic growth

Prioritise job creation

2012: Los Cabos, Mexico

Commit to promote inclusive green growth

Adopt the Los Cabos Growth and Jobs Action Plan

2011: Cannes, France

Tackle the Eurozone debt crisis

Focus on international monetary system reforms

2010: Toronto (Canada) & Seoul (South Korea)

Focus on debt reduction

Agree to transfer 6% of voting power in the International Monetary Fund (IMF) to emerging market countries

Include development policy issues on the agenda for the first time

2009: London (UK) & Pittsburgh (USA)

Adopt a Framework for Strong, Sustainable and Balanced Growth

Pledge $1 trillion of financial aid to combat the effects of recession

Establish a new Financial Stability Board (FSB)

2008: Washington, DC (USA)

Agree to refrain from imposing new barriers to trade and investment for 12 months

Decide on common principles for guiding financial market reform

“We are called upon to offer a different type of leadership—leadership strong enough to recognize that nations share common interests and people share a common humanity,and yes, there are certain ideas and principles that are universal.”
— Barack Obama, former US president

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