The recently held G20 Summit in Hamburg has set high hopes for the G20 process in terms of being inclusive, effective and result-oriented. The fact that trade, investment, migration, terrorism and many other priorities including excess capacity in the steel sector could be incorporated with specific action is testimony to collective commitment for a better world.
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Reading recommendation: For the G20 – Let’s return to the original idea
The G20 need to get back to their routes At its creation the G20 was meant to facilitate coordination, cooperation and problem-solving among key actors in a specific policy field, which then was global financial stability. The G20 was not meant to be a jack-of-all-trades, offering welcoming words and restating support for long-accepted and previously reconfirmed goals, as most subsequent G20 summits did.
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From Taormina to Hamburg: A fruitful G7-G20 relationship?
Only six weeks went by between the Taormina G7 and Hamburg G20 meetings, which were both chaired by a major EU Member State. A substantive link between the two summits was therefore to be expected. Indeed, at least to some extent, a useful connection was set in motion. The results of these two events seem to suggest an informal – but organic – relation between the diplomatic and cooperative efforts of the much narrower and more homogeneous G7 with the G20 summit.