The G20 at the End of 2014
This issue of the G20 Monitor reflects on the state of the G20 at the end of 2014, and offers suggestions for the path forward during Turkey’s 2015 G20 Presidency.
• The G20 is still the premier forum for international economic cooperation, and a successful 2014 Australian Presidency has brought back a sense of optimism that the G20 can focus on collective solutions to major economic challenges. That said, alternative forums will continue to be sought if the G20 is not continuing to demonstrate its relevance.
• The 2015 Turkish G20 Presidency has outlined an ambitious agenda, but needs to focus on making a clearer political and economic case for a few specific, tangible, and realistic outcomes. In 2015, the G20 needs to aim beyond domestic priorities and implementing existing commitments, and demonstrate progress on cross-border governance issues. The February Finance Ministers meeting will be crucial in setting the tone for the rest of 2015.
• The Think20 process has come a long way since its first meeting in February 2012, and by continuing to focus on G20 priorities in 2015 it can take further steps in realising its vision – to allow experts to contribute ideas that improve the workings of the global economy.
Tristram Sainsbury is a Research Fellow in the G20 Studies Centre at the Lowy Institute