... the BRICS economies. Each BRICS core member is a key player in their respective regional trade blocks – India in BIMSTEC, Russia in the Eurasian Economic Union, South Africa in the African Union and the AfCFTA, Brazil in MERCOSUR, and China in the ... ... attain the scale to serve as an important platform for a revitalized globalization effort. It could work more closely with the G20 as well as with the Bretton Woods institutions such as the IMF and the World Bank in rendering the new the new round of globalization ...
... sidelines of the summit, which allowed them to temporarily dispel the expectation of an inevitable clash, which seemed likely only three months ago.
Of course, we are far from thinking that China, India or other developing countries, not to mention Russia, see the G20 as a way to take global leadership away from the West. In Moscow, Beijing, New Delhi and other capitals, they know that those institutions that do not fully meet American interests are easily sacrificed to the current circumstances. However, first,...
... growing uncertainties and confrontations in the world? Why is Asia, particularly Southeast Asia, increasingly becoming the center of global affairs? Yaroslav Lissovolik (Lissovolik), Program Director with the Valdai Discussion Club and member of the Russian International Affairs Council, shared his views on these matters with Global Times (GT) reporter Xia Wenxin in an e-mail interview.
GT: What are your expectations for the summit this year? How should the G20 better coordinate to deal with common problems and challenges, achieving "recover together, recover stronger"?
Lissovolik:
My hope is that the focus of the G20 summit will be duly directed at addressing the vulnerabilities in the global ...
The G20 summit in Indonesia will need to keep its focus on the key imperatives and exigencies of today’s world economy, most notably the rising risks of a global recession
The G20 summit in Indonesia will need to keep its focus on the key imperatives ...
... for significant breakthrough decisions, where the joint actions of absolutely all players are really required, are small. The West has chosen the path of threats, blackmail, unilateral sanctions and hybrid aggression against those countries that, like Russia or China, and subsequently any other state, choose the path of sovereign development.
Nevertheless, regardless of the outcome of the G20 summit itself, it will be possible to mark the Indonesian presidency as a success. After all, the current crisis has allowed Indonesia to prove itself as a global power. It is precisely the crisis and the hegemonic aspirations of the West that allow ...
... bilateral consultations with his counterparts from several non-Western G20 countries including China, Mexico, South Africa and Brazil, as well as with the invited leaders of some international organizations.
However, the FMM intrigue is not limited to Russia's place within G20. The West comes to Bali more united than it has ever been since the end of the Cold War. The recent summits of G7, the North Atlantic Alliance and the European Union have demonstrated an exceptionally high degree of the Western cohesion. It is clear ...
... could be a starting point.
When Russian President Vladimir Putin visits India next week, it will be one of just two foreign trips he has made this year, the other one being his June meeting with U.S. President Joe Biden in Geneva. Putin skipped both the G20 and COP26; an expected trip to China was rescheduled due to COVID; yet the Russian leader has decided to travel to New Delhi. This step is hopefully more than mere symbolism in the traditionally warm Russo-Indian relations and not simply a signal that at a time of increasingly tense relations with the West, Russia has important ...
... global crisis, such as the current COVID-19 pandemic, as it can be employed as an anti-crisis measure via the investments of the G20 states’ SWFs. One important venue of cooperation for such a platform for sovereign wealth funds could be the elaboration ... ... turn would support the advancement of a green recovery in the global economy in the aftermath of the Covid pandemic.
As regards Russia’s sovereign wealth funds, most notably the National Wellbeing Fund (NWF), which by Q1 2021 has accumulated more than ...
... economic architecture through the incorporation of a regional layer of global governance. This in turn may be pursued via the creation of a platform for regional integration arrangements and regional institutions with a coordinating role performed by the G20. Such a platform that may be denoted R20 (regional 20) would bring together regional integration arrangements and institutions where G20 countries are leading members. Such a platform may promote horizontal coordination across regional institutions ...
... space.
The catalyst for the decline of interest in the G8 format from the Russian leadership was, of course, the creation of the G20. A significant part of the issues of global governance that were of great interest for Moscow moved to this platform. Russia felt more comfortable in the G20 compared to the G8: in a more representative association, Russia had new partners and additional opportunities to form tactical coalitions and advance its interests. It is no coincidence that since the expulsion of Moscow from the G8 in the spring ...
