South Africa has officially taken over the G20 presidency, emphasizing the importance of elevating the needs of the African continent and the Global South on the world stage. The G20 is an intergovernmental economic forum, which includes 19 countries. Countries in the European Union (EU) and now the African Union (AU), marking a significant step for Africa’s representation in global decision-making.
Geopolitical analyst Ashraf Patel discussed the G20’s role: “The G20, essentially in terms of norms, is a grand talk shop. Number one, it’s a forum, not a union, a club, or a bloc with a common vision, agreements, or institutions.” He noted that the G20 was formed during the 209 financial crises to stabilise capitalist nations by incorporating emerging markets like India, China, and Mexico.
Patel further comments that, over the years, the G20 agenda has been filled with a wide range of issues, yet the core issue of international financial institutional reforms has not been adequately addressed. He advises South Africans and Africans to have moderate to low expectations for the upcoming G20 forum, as meaningful outcomes may be limited.
Listen to the full interview below:
VOC News
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