20 Years of G20: From Global Cooperation to Building Consensus

Description

The book discusses contemporary issues such as global financial architecture and regulatory practices, trade, investment and the multilateral process, the future of work, the role of technology for adaptation and mitigation of climate change, and financing infrastructure for sustainable development. With increasing global connectivity, events in one part of the world immediately affect or spread to the other parts. In this context, G20 has proved to be an effective forum, particularly after the Asian financial crises. Furthermore, over recent decades, G20 has been instrumental in managing financial crises and international conflicts by deploying global cooperation as a functional tool. As a body responding to crises, the G20 has played a central role in providing the political momentum for the strong international cooperation that ensured greater policy coherence and helped ease situations that could otherwise have been decidedly worse. The G20’s agendas have encompassed short-term but critical issues of economic recovery, the sovereign crisis of Europe, high unemployment and financial sector regulation. But since moderate stabilization in the global economic environment, the focus of the group has also embraced long-term areas of governance and development. For emerging economies, such as India, the G20 has been an important platform framework to promote an inclusive global economic architecture that seeks to achieve equitable outcomes. This book reviews the past 20 years of the G20, since it was conceptualized as a replacement for the G-7. While issues such as global financial order have been a constant area of discussion, one of the failures has been not recognizing and acknowledging the importance of issues like trade, climate change and future of work. Featuring academic papers by experts in the area, this book provides a platform for the necessary discourse on these issues. Front Matter ....Pages i-ix Introduction (Rajat Kathuria, Prateek Kukreja)....Pages 1-16 Front Matter ....Pages 17-17 Emerging Markets Perspectives on G-20 Led Financial Reforms (Ashima Goyal, Akhilesh Verma)....Pages 19-36 The Global Economy and Financial Markets 10 Years After the Global Financial Crisis (Alok Sheel)....Pages 37-78 Front Matter ....Pages 79-79 Where Is US Trade Policy Headed Under the Trump Administration? (Anwarul Hoda)....Pages 81-92 Trade, Investment, and the Multilateral Trading System (Sugandha Huria, Manoj Pant)....Pages 93-111 Front Matter ....Pages 113-113 Technological Change and the Future of Work—Some Issues from a Developing Country Perspective (Kim Jurgensen, Imraan Valodia)....Pages 115-126 The Changing World of Work in Developing and Emerging Economies (Radhicka Kapoor)....Pages 127-139 Front Matter ....Pages 141-141 Rethinking Technology for a 1.5 °C World (Ulka Kelkar, Apurba Mitra)....Pages 143-155 Climate Ambition Needs Targeted Technology Collaboration (Arunabha Ghosh, Vaibhav Chaturvedi, Shikha Bhasin)....Pages 157-179 Front Matter ....Pages 181-181 Infrastructure Financing in India—Trends, Challenges and Way Forward (Kumar V. Pratap, Mira Sethi)....Pages 183-198 The Problem of Financing Private Infrastructure in India Today (Sebastian Morris)....Pages 199-226 Correction to: 20 Years of G20 (Rajat Kathuria, Prateek Kukreja)....Pages C1-C1