ISMAIL LAGARDIEN: Next month’s G20 meeting comes at a time of little fires around the world
The leaders will meet against a backdrop of an abject failure to improve global governance
Next month’s meeting of the Group of 20 (G20) in Bali, Indonesia, comes at a time of rising regional military strategic tension, a time of “little fires everywhere” around the world, increased prospects of stagflation and of general failures of global governance. The world’s attention will or should be focused on Bali and what world leaders will do to curb the spread of these little fires around the globe.
This state of affairs amounts to another multidimensional crisis, not terribly unlike the state of the world at the turn of the century, when globalisation was blamed for instability and a need arose for a new architecture of global finance. At the time, specifically in 1999, the UN put forward the policy framework of global public goods (GPG) to “better manage” globalisation, international co-operation and improved global governance...
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