THE G20...BEHIND CLOSED DOORS

THE G20...BEHIND CLOSED DOORS

What's the G20? Thirty years ago, the G7 group of industrialized nations — the United States, Japan, Britain, France, Germany, Italy, and Canada — accounted for almost 70% of the global economy, giving them hefty international influence. But by 2008, that number had fallen to just over 50%, and when the global financial crisis hit, it was clear that big new players like China, India, and others had to be included in talks over how to avert disaster.

Enter the G20, which includes the G7 plus China, India, Brazil, Indonesia, Saudi Arabia, Turkey, Argentina, Australia, South Korea, South Africa, Russia, Mexico, and a representative of the European Union. This group now accounts for 80% of global GDP and two-thirds of the world's population.

What's the G20 good for? The G20 produced a unified response to the financial crisis, but only because it threatened all of these countries at the same time. Since then, the group hasn't accomplished much of anything that demands compromise and shared sacrifice. It's hard to get 20 negotiators to agree on anything, but particularly when key players like China, Russia, and Saudi Arabia don't have the same political or economic values as the US, the Europeans, and Japan.

So does this summit matter? Yes. Even if the full G20 summit meetingaccomplishes little else, the broader event will serve one very important purpose: it will give world leaders a chance to meet on the sidelines to talk through important questions in less formal settings. Not surprisingly, there are lots of people who want face-time with President Donald Trump.

The main event: The most anticipated moment of the Osaka summit is the expected Saturday meeting between Trump and China's President Xi Jinping. The US-China trade war continues, and finance officials and economists warnthat it's beginning to undermine the entire global economy.

US Treasury Secretary Steve Mnuchin said this week that the two sides are 90% of the way to a deal, but China reportedly has a list of specific demands — including the lifting of US sanctions on Chinese tech giant Huawei — that they want met before anybody signs anything. Trump hasn't yet indicated how he feels about that.

In short, the world is watching and hoping for a trade war truce, if not a deal to end it altogether. We'll find out over the weekend whether things are moving in that direction.

The under card: That's not Trump's only noteworthy meeting. Click here for the full undercard of Trump meetings: Putin, Modi, Merkel, Erdogan, and breakfast with the Saudi Crown Prince!

Bottom line: You can ignore the choreographed group photos and empty joint statements, but the private meetings behind closed doors are genuinely important. That alone makes the G20 worth watching.

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In the lead-up to this year's COP26 climate summit in Glasgow, much of the attention has been focused on last summer's wildfires across the US and Europe, and more recently skyrocketing European energy prices. But what about Asia, the world's biggest and most populated region, which also has the highest share of global carbon dioxide emissions that cause global warming? Asia has unique climate risks but also many opportunities for solutions, and whatever happens at COP26, Asian countries led by China and India are primed to lead the world in the struggle to make the planet greener before it's too late. In a live discussion moderated by Shari Friedman, Eurasia Group's Managing Director of Climate and Sustainability, global experts discussed these and other topics during the first of a two-part Sustainability Leaders Summit sponsored by Suntory.

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We're just days away from COP26, the landmark global climate conference that's been dubbed the last chance to get the climate crisis in check. In the lead-up to the event in Glasgow, dozens of countries have released new ambitions to reduce their future carbon footprints. For years, climate activists and experts have called on governments to introduce carbon pricing schemes – either through taxes or emissions-trading schemes. So who's heeded the warning? We take a look at the top ten carbon emitters' share of global emissions and details about their respective national carbon pricing schemes.

Marietje Schaake, International Policy Director at Stanford's Cyber Policy Center, Eurasia Group senior advisor and former MEP, discusses trends in big tech, privacy protection and cyberspace:

Do cryptocurrencies make it harder to enforce foreign policy sanctions?

Well, that is exactly what the Biden administration worries about. As part of growing concerns of whether unregulated currencies undermine a whole host of policies, sanctions and foreign or trade policy should be a priority area. And just like others who wish to evade tracing of their wealth or transactions, the very states or their sanctioned entities should be assumed to resort to all options to evade restrictions while continuing to do business. So having cryptocurrencies undermining the ability to enforce strategic goals logically raises eyebrows in Washington.

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Back in August, when the Taliban took over, we asked whether anyone in the international community would recognize them. Now it looks like things are heading that way.

This week, the Kremlin hosted a summit with the Taliban that was attended by China, India and Pakistan, as well as all five Central Asian Republics.

The domestically-focused US, however, wasn't there. The US continues to maintain that the Taliban can't be trusted. But does it matter? In 2021 does a Taliban-led government even need American recognition to function and thrive?

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For Kevin Rudd, former Australian PM and now CEO of the Asia Society, the science on climate change is pretty much done, so the only unresolved issues are tech and — more importantly — lack of political leadership. He can't think of a single national political leader who can fill the role, and says the only way to get political action on climate is to mobilize public opinion.

Rudd joined for the first of a two-part Sustainability Leaders Summit livestream conversation sponsored by Suntory. Watch here and register here to watch part two Friday 10/22 at 8 am ET.

Taking place on October 21 and 22, the Sustainability Leaders Summit will go beyond preexisting narratives and debate priorities for governments and industries ahead of COP26. Placing the spotlight on Asia's role in the global sustainability agenda, the event will address whether Asian countries and companies can achieve shared sustainability goals, and what is needed to help get them there. The summit will be co-hosted by Tak Niinami, CEO of Suntory Holdings, and Ian Bremmer, founder and president of Eurasia Group and GZERO Media. We will address three key questions: How can Asian countries, with the help of the private sector, achieve shared Sustainability Goals? Why does this matter? And what are the policy changes needed to bring it about?

Attendance is free and open to the public. Register to attend.

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The minutiae of supply chains makes for boring dinner table talk, but it's increasingly becoming a hot topic of conversation now that packages are taking much longer to arrive in the consumer-oriented US, while prices of goods soar.

With the issue unlikely to be resolved anytime soon, right-wing media have dubbed President Biden the Grinch Who Stole Christmas, conjuring images of sad Christmas trees surrounded by distraught children whose holiday gifts are stuck somewhere in the Pacific Ocean.

It hasn't been a good run for Uncle Joe in recent months. What issues are tripping him up?

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