CIGI Commentaries, June, 2012
In the run-up to the Los Cabos G20 Summit, there were expressions of concern in several circles in various countries that the G20 is running out of steam, as the world economy is losing momentum, given slower growth in Europe, the United States and China. This skeptical view derives from a number of dimensions: lots of words, little action; more discord than concord; and a poor track record of implementing commitments.
G20 Rapid Response: Progress Slow, But Los Cabos Keeps Innovation in Global Governance Moving Forward
Did the G20 in Cabo San Lucas resolve the euro zone crisis? No. Doesn’t that just underscore what a waste of money these summits are? No. The world is far more complicated than that. With today’s non-stop news cycles, it is almost inevitable that expectations for summits are so high that they can never be met. In fact, substantial progress is being made in the G20 in a number of areas, most of which never is reported.
Progress on addressing climate change at the Los Cabos G0 Summit was disappointing — the “G20 Leaders Declaration” made only desultory references to the issue. There is, however, an opportunity for Mexico to use the rest of its presidency to put in place the building blocks for serious action on climate change.
The Los Cabos “G20 Leaders Declaration” and Los Cabos Growth and Jobs Action Plan have some encouraging elements for those concerned about the prospects for the global economy. Three key risks came to prominence in the weeks leading to the summit.
G20 Rapid Response: Moving the Global Governance Debate from Growth Versus Austerity to a Rebalancing of Prudence and Generosity
The impression that the Los Cabos G20 was dominated by the debate over growth versus austerity is misleading in many ways. The debate — and the tension — is far greater, from a global governance perspective, than this dichotomous construct allows.