The possibility of global economic governance in a period of great power rivalry

A structural shift is underway, running much deeper than the so-called trade wars that have been triggered by the US administration. Evidence of this trend starts to abound. In the past months, measures have been taken in places such as the US and the EU which will discourage the inflow of certain foreign investments, global companies have been induced to restructure their supply chains following geopolitical considerations and an increasing number of countries have been dismissing infrastructure projects with foreign funding.

The ‘China Shock’ : Three Phases of China-enhanced Globalization

The rising living standards that have come with China’s opening in the 1980s initially lent widespread support to the view of trade as a key engine of economic growth, North and South. For low- and middle-income countries, the rise of China has been shown to be a boon during the 2000s. As a result, the impact of China on both the low- and middle-income countries has grown significantly, while the impact of OECD countries has significantly declined.

What we can expect from the Hamburg G20 Summit

Photo: Hamburg Harbour

Hamburg could mark a departure

Much of the criticism levelled at the Group of 20 (G20), the club of the world’s most economically powerful industrialised and emerging economies, is justified. The Hamburg summit will play host to high-level autocrats and, in many ways, its agenda is far removed from the needs and standards of a just, inclusive and sustainable global economy. Policy advisors still hoping for the gathering to deliver in some way are banking on an initiative supported by the EU countries and their civil societies in cooperation with several partners from the global South, an initiative designed to promote sustainability solidarity and participation.

First day of T20 summit focuses on reasons for optimism amid growing challenges to multilateralism

Optimism amid growing challenges to multilateralism

In the wake of the tense G7 Leaders Summit in Italy, it is clear that advocates for multilateralism, cross-border cooperation, and globalism in general, must redouble their efforts if they are to successfully counter growing populist support for inward-looking nationalism. In a refreshing reminder of the resolve of those committed to global cooperation, the 2017 Think20 Summit has successfully brought together several hundred policy experts, researchers, officials, and stakeholders with an interest in the G20, from across the world, in order to discuss, consolidate, and give one final push to the large body of policy work that the Think20 community has managed to produce over the last six months.

Time to align: The forces of globalisation, technology, and financial growth need to be reset for the future

Photo: Subway passing through

Enormous Challengs and a daunting Task

Next week PwC will be represented at the Think20 (T20), a gathering of global think tanks in the lead-up to this year’s Group of 20 summit in Germany. The T20’s mission is to deliver a series of reports and thought leadership to aid the G20 leadership and inform the thinking of all the member governments at the summit.