Other multilateral processes also offer lessons on what it is reasonable to expect of the
G20. The multilateral trade liberalization process under the auspices of the WTO has addressed the legitimacy problem in international organization by demanding unanimous agreement among its membership, but at the cost of narrowing its negotiating agenda (for example, the exclusion of investment) and making tittle substantive progress since its fifth ministerial meeting in Cancun in 2003, the Bali Agreement on customs procedures in 2013 notwithstanding.
Innovation, introduced on the
G20 agenda for the first time, is "the key for boosting global economic potential," said Yao Zhizhong, a professor with the Chinese Academy of Social Sciences.
Azerbaijan can make significant contribution to
G20, said the source, adding that today, it is one of the most developed countries of the region.
Regarding the
G20's decision to continue making preemptive assessment on major risk scenarios in the global economy, the Deputy Prime Minister underscored the expansion and development of risk scenario analysis.
"We will demand a deadline of two years at the next
G20 meeting" one of the sources with direct knowledge of the matter told Reuters.
"According to our preliminary assessment with the OECD, the commitments made to date as part of these strategies have the potential to raise the collective GDP of the
G20 by about 1.8 percent by 2018, compared to the 2 percent goal set earlier this year in Sydney,'' Lagarde said in
According to a study by the IMF, reforms could fall short of
G20 targets.
This move by
G20 is a shift in focus away from austerity as a fragile recovery begins.
Sin embargo, existe un tipo de agrupacion especialmente poderoso: el
G20, o mas bien deberiamos decir, los
G20.
Noting that global economic growth remains low and risks are tilted to the downside, and most importantly, trade and geopolitical tensions have intensified, the
G20 leaders said they will continue to address these risks and stand ready to take further action.