Global Research articles are available for readership in 51 languages. The 2024 year is considered vital to the future global agenda, with the impending United Nations Future Summit in September. The summit aims to bolster an improved worldwide economic governance, with the G20 taking on an enhanced role within the UN and the international financial structure.
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The complete list of Global Research articles can be accessed in 51 languages. The United Nations Future Summit, scheduled for September this year, heralds a crucial phase for the global agenda.
The UN policy brief 'Reforms to the International Financial Architecture' that expands on the United Nations 'Our Common Agenda' proposals, recommends the creation of an "apex body" for economic coordination. This represents a crucial element to attain Agenda 2030 and the Sustainable Development Goals (SDGs). The new body is anticipated to consist of the G20, UN, and worldwide financial institutions meeting at a biennial summit.
The G20 (Group of twenty), under the leadership of Brazil and President Lula da Silva, promotes the slogan “building a just world and a sustainable planet”. The main areas of emphasis include "The three dimensions of sustainable development", "Combating hunger, poverty, and inequality", and "Global Governance Reform".
The G20 came into existence following the Asian financial crisis in 1999 and later grew to become the go-to global forum for managing global challenges during the financial crisis barely a decade later.
This methodology had previously been deliberated upon at an Informal Gathering of World Economic Leaders (IGWEL) at the annual World Economic Forum summit in 1998.
This led G7 finance ministers to suggest an expanded dialogue on crucial economic and financial policy issues among economically significant nations. Subsequently, these economies were invited to a meeting in Berlin in December 1999.
The idea of this type of global governance had been proposed as early as the 1970s by the Trilateral Commission’s members. For success, it was deemed essential to include the most prominent emerging economies, as seen in their 1976 report 'The Reform of International Institutions'.
At the onset, only finance ministers and central bank governors were invited to the meetings, but since the 2008 G20 Summit on Financial Markets and the World Economy, heads of state or heads of government have participated (Lula da Silva was among the first participants).
This upgrade was realized following advocacy from WEF. As revealed in their 50th-anniversary book 'WEF: A Partner in Shaping History 1971–2020', Klaus Schwab proposed widening the scope of the G20 meeting to resemble a genuine global summit.
The roles of the G20 have progressively expanded, and it effectively forms a prototype for a global government. The G20 member states comprise approximately 80% of the world’s population, operating as an executive council for implementing the UN Sustainable Development Goals and the WHO Health Agenda.
The former leader of the Soviet Union, Mikhail Gorbachev, labeled it the “Global Politburo”. The association currently includes 19 member nations in addition to the European Union (EU) and the African Union (AU) that recently joined.
The Secretary-General of the United Nations is a permanent guest attendee, along with delegates from several economic organizations, including the Organisation for Economic Co-operation and Development (OECD), ASEAN, WTO, ILO, IMF, the World Bank, and the Financial Stability Board.
Significant portions of their task are accomplished through the "finance track" and the "sherpa track".
The finance track, with seven technical groups and one task force, focuses on macroeconomics, and the development of a new international financial architecture. Participants include representatives from international financial institutions (The World Bank, IMF, BIS), regional development banks, finance ministers, and central bank governors (FMCBGs).
Their Joint Task Force on Finance and Health functions as a forum that augments Pandemic Prevention, Preparedness, and Response (PPR) “in alignment with the One Health Approach and World Health Organization (WHO) priorities and objectives”. The secretariat is located at the WHO headquarters in Geneva, with support from The World Bank.
The sherpa track manages fifteen working groups (in areas such as health, agriculture, education, and energy transition), two task forces, and one “Bioeconomy Initiative”. The work is spearheaded by the personal emissaries of the G20 leaders. Other attendees comprise ministers from the G20 member countries and international organizations like the OECD and United Nations.
The G20 additionally includes participation from thirteen engagement groups from diverse societal sectors...
