Susan Harris Rimmer, Asia-Pacific College of Diplomacy

Does the G20 offer a pathway to end poverty?

Overview

• Why was the G20 created

• Who is the G20

• What does it do?

• Why it is important

• Challenges ahead – legitimacy and performance

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Why is the Group of 20 important? 

 G20 members represent almost:

1. 90% of global GDP.2. 80% of international global-trade.3. 2/3 of the world's population lives in G20 member countries.4. 84% of all fossil fuel emissions are produced by G20 countries.

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Why is the Group of 20 important? 

The G20 as the embodiment of a rapid change in global power balance.•Combined BRIC’s GDP rose from $2.5 trillion in 2000 to $9 trillion in 2010 despite the GFC. 1 Now comprises 85% of global GDP.•BRIC’s will be four of the five largest economies by 2050.•East Asia grew by 50% from 2007-11. Europe grew by 3%.•97% of global population growth to 2030 will be in emerging economies. 3% in the West.

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Why is the Group of 20 important? 

•An additional 2 billion people will join the global middle class by 2030, nearly all from G20 emerging economies.2

•Emerging G20 economies are the key demand side pressure point for control of land, water, energy, minerals and carbon space, with profound implications for environmental sustainability & conflict.•Key multilateral processes at an impasse due to reluctance of G7 to acknowledge new power dynamics (WTO, UNFCCC).•BRICS FDI is unprecedented. China $400 billion in 350 acquisitions between 2005 and 2011. 3

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Why is the Group of 20 important? 

•BRICS Bank proposal to rival the World Bank reviewed at March 2013 BRICS Summit.

•Barry Carin – lever of progress•Andrew Cooper - crisis committee to steering committee

•On its way to economic version of Security Council?

•Political power regulating globalisation?•Rich countries staying rich?

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Poverty in the G20

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Gender equality and the G20: The third billion

Outreach and political leadership

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Outreach and leadership

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