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.

Walmart aspires to become a regenerative company – helping to renew people and planet through our business. We are committed to working towards zero emissions across our global operations by 2040. So far, more than 36% of our global electricity is powered through renewable sources. And through Project Gigaton, we have partnered with suppliers to avoid over 416 million metric tons of CO2e since 2017. Read more about our commitment to the planet in our 2021 ESG report.

Political division, disinformation and, frankly, stupidity are costing lives. It is not authoritarian to mandate vaccines in America. In fact, there is historical precedent. Making vaccine uptake a requirement will save tens of thousands of lives and maybe many more than that. There really aren't two sides to this argument, there is just the science.

Ian Bremmer's Quick Take:

Hi, everybody. Ian Bremmer here. Hope you're having a good week. I wanted to kick it off by talking about vaccines. We all know the recent spike in cases and even hospitalizations that we have experienced in this country over the past couple of weeks. It looks like that's going to continue. It is overwhelmingly because of Delta variant. The hospitalizations and deaths are overwhelmingly because too many people are un-vaccinated.

More Show less

Iraqi PM's face-to-face with Biden: Mustafa al-Kadhimi, Iraq's prime minister, met with President Biden at the White House Monday to discuss the future of US troops in Iraq. The US still has about 2,500 troops stationed in Iraq to engage in "counterterrorism" operations and train Iraqi forces. In an interview published this week, al-Kadhimi called for the withdrawal of all US combat troops, because, he said, Iraqi forces have proven capable of fighting ISIS militants on their own. (Just last week, some 30 Iraqis were killed when ISIS militants attacked a busy Baghdad market.) Al-Kadhimi still wants non-combat US troops to stay on in a training capacity. He became PM in 2020 as a consensus candidate after nationwide protests over corruption and joblessness forced the resignation of the unpopular previous government. At least 500 protesters were killed during a crackdown by Iraqi security forces, fueling demands for fresh elections, which are set to take place this October. The green PM has a tough job: he has to juggle relations with the Biden administration, which just pledged $155 million in aid to Iraq, and ties with Tehran, an influential player in Iraqi politics. (Iraq relies on Iran for energy imports, and Iran-backed militias inside Iraq are a force to be reckoned with.) Local sentiment has soured on the US presence as Iraqis resent being caught in the middle of US-Iran fights inside Iraqi territory.

More Show less

7,100: As a third COVID wave ravages Myanmar, the death toll has now risen above 7,100, a gross undercount because that total includes only those who died in hospitals. Myanmar, which has one of the weakest healthcare systems in Asia, is also dealing with a vaccine hesitancy problem: people are rejecting shots because they see vaccination as validation of the military, which overthrew the democratically elected government earlier this year.

More Show less

Tunisia, the only country that emerged a democracy from the Arab Spring, is now in the middle of its worst political crisis since it got rid of former autocrat Zine El Abidine Ben Ali over a decade ago.

On Sunday, the 64th anniversary of the country's independence from France, President Kais Saied responded to widespread protests over the ailing economy and COVID by firing embattled Prime Minister Hichem Mechichi and suspending parliament for 30 days. Troops have surrounded the legislature, where rival crowds faced off on Monday, with one side chanting in support of the move and the other denouncing it as a coup.

How did we get here, do we even know who's really in charge, and what might come next?

More Show less

This time last year, world health experts were speculating about why Africa appeared to have escaped the worst of the global pandemic. Younger populations? Natural immunity created by exposure to past viruses? Something else?

They can stop wondering. Africa is now in the grip of a COVID emergency.

More Show less

"We've been dealing with pandemics from the earliest recorded history. Thucydides writes about a pandemic in the history of the Peloponnesian War. So the last thing 2020 was, was unprecedented," Stanford historian Niall Ferguson told Ian Bremmer on GZERO World. Ferguson, whose new book, "Doom: The Politics of Catastrophe," believes that the world should have been better prepared for the COVID-19 pandemic based on the numerous health crises of the 20th century, from the 1918 Spanish flu to influenza and HIV/AIDS. He provides perspective on how the COVID crisis stacks up compared to other pandemics throughout history.

Watch the episode: Predictable disaster and the surprising history of shocks

COVID-19 was a global catastrophe that blindsided the world's wealthiest nations, and it's far from over. But as disasters go, it was hardly unprecedented. Humanity has a long history of failing to prepare for the worst, from volcanic eruptions to earthquakes to famines to shipwrecks to airplane crashes to financial depressions. But how do we get better at preventing such calamities from happening, and how many seemingly unavoidable "natural" disasters are actually caused by humans? On GZERO World, Ian Bremmer talks about all that and more with Stanford historian Niall Ferguson, who is just out with the perfect book for the topic, "Doom: The Politics of Catastrophe." Plus, a look at how one young Ugandan activist was literally cropped out of the global climate fight.

Subscribe to GZERO Media's newsletter, Signal

GZERO World with Ian Bremmer. Watch episodes now

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal

GZERO World with Ian Bremmer. Watch episodes now

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal