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G20 Ends As Premium Forum For Global Economic Cooperation

Undeniably, the Ukraine war’s long shadow panned out anyway all through the G20 summit.  Although Indonesian President Joko Widodo handed over the baton to Indian Prime Minister Narendra Modi for the next conference yet the G20, or Group of 20 nations, consisting of 19 countries and the EU, dwelt at length upon the crucial worldwide questions such as the global economy, the struggle against climate change and endurable growth, etc.

As reported Russian leader Vladimir Putin was not showing up in person, but there’s no G-20 — or, umm, G-19 — solidarity with his adversaries in Ukraine. Dictators mingled with democratically elected leaders, and alignments shifted depending on the specific issue. Will we not evaluate the role of Turkey in the Summit finally?

Constituted in the year 1999 the group was collectively representing 85 percent of global gross domestic product, 75 percent of international months-long trade, and two-thirds of the world’s population, thereby making it the premier forum for international economic & fiscal cooperation reportedly.

Indonesia’s references to the Russian war on Ukraine remained to a minimum, contending that the G20 is not a security summit. As it more or less puts a curb on global debt and post-pandemic recovery. Bali hosted the international forum, under the theme “Recover Together, Recover Stronger.” 

Indonesia’s President strived to maintain the emphasis of the summit on the vital topic of climate change. However, if nothing else, it did result in a notable degree of unanimity in a time of deeply sharp divisions. Moreover, it touches diverse social and economic sectors, ranging from energy, agriculture, trade, digital economy, health, and environment to employment, tourism, anti-corruption, and women’s empowerment. This forum did emerge after the year 1999 Asian financial crisis. It was supposed to be considering itself something of a superpowers club that manages future crises, as reckoned.

 

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