There are sweeping changes underway in production due to automation and digitalization, particularly in Indonesia. What policy changes should governments, the World Bank, and the IMF enact in order to ensure the creation of decent work for growing labor forces?
This article explores how growth of the finance sector can overtake growth in the "real" economy, including manufacturing or trade, and depress wages as returns to capital are protected or increased. In developing and emerging countries, financialisation deepens the vulnerability of local financial systems when they are subject to the volatility of global capital markets and the interest rate decisions of large countries, particularly the US. Without proper controls, financialization can redirect the development process towards securing the profits of private companies and private finance.
Increasingly, donors and creditors are joining together to mobilize "billions" in public money in order to leverage "trillions" in private investment in development. This month at the G20 meeting in Indonesia, bold system-wide reforms in global financial governance are being approved; some are already being implemented. Nancy Alexander and Rick Rowden describe these system-wide reforms and conclude that, on the current course, the reforms could undermine the public interest in sustainable development and climate goals. It is crucial to ensure that proposed reforms respect democratic practices and promote sustainability.
The Investment Plan for Europe, the Program for Infrastructure Development in Africa, and the Chinese Belt and Road Initiative all seek to promote infrastructure investment - but involve significant risks regarding environmental sustainability, social impacts, and unfavorable technological lock-ins for the next decades.
Infrastructure is essential to the achievement of the sustainable development goals (SDGs) and to the success of the Paris Agreement on Climate Change. Our partner IISD presents why governments must invest in sustainable infrastructure and how they can integrate sustainability into infrastructure contracts.
For transnational corporations and their national and international associations and lobby groups, the G20 process provides important opportunities to engage with the world’s most powerful governments on a regular basis, shape their discourse, and influence their decisions. Read more about the influence of the Business20 (B20) in the following study.
Infrastructure development acts as a gateway to natural resources and markets, powers industry, and provides key services to citizens around the world. However, the OECD’s infrastructure investment advice to the G20 is “out of sync” with recent achievements of the global community, such as the new UN Sustainable Development Goals (SDGs).
At the request of the G20, staff at the World Bank has prepared a report recommending model language for public-private partnership (PPP) contracts. Unfortunately, the proposals fail to grapple with several of the problems that have plagued many PPP schemes, or contribute in a constructive way to finding solutions to them.
The G20 has fallen behind other international organizations in addressing the challenges of climate change and supporting sustainable energy transformation and electrification. This article lays the foundation for a reflection and discussion on what the G20 can usefully do to support these transformations, and how it must change to achieve this.
In 2015, for the first time in the history of the European Union (EU), a populist left party, SYRIZA in Greece, won a major election. Since then, the EU has faced an existential challenge, the solution to which determines nothing less than the collective survival of the EU or its dissolution into single nation-state entities.
This issue entitled, "Will the New G20 Troika Advance Sustainable Development?" includes feature articles on Public-Private Partnerships (will they help achieve climate and sustainable development goals?); the Turkish Civil 20; and ragged progress on the G20 Anti-Corruption agenda.
The world is running out of time when it comes to limiting global warming to 2°C. In this paper, Nora Rohde examines whether the master plans for energy mega-projects in three regions contributes to that goal.
Some claim that the biggest obstacle to boosting investment levels and reviving the global economy as the absence of regional "pipelines of bankable projects". In this paper, Nora Rohde describes the "solution" --Project Preparation Facilities (PPFs) to accelerate the launch of (mega)projects.
At the 9th G20 summit in Brisbane, Australia, all member states presented their individual plans to promote “stronger economic growth and employment outcomes”. As G20 President this year, Turkey may consider its growth strategy and employment plan as models for other G20 countries. Its approach may also shape the G20 agenda. To explore these possibilities, this paper presents and comments on some highlights of the Turkish plans.
The new investment and development model is evolving with breathtaking speed due to not only the strong global consensus in support of it, but also the competition between the West and emerging powers to implement the model.
This paper highlights decisions of the G20 Summit as they relate to: Taxation and Corruption; Labor and Gender Participation in the Workforce; Financial Regulation; Trade; Climate Change, Food, and Energy; Global Governance; and Infrastructure.
Worldwide, the essential role of infrastructure is being rediscovered. However, mega-projects -- including in the energy sector -- need good governance in order to deliver benefits and avoid harm to communities, ecology and the climate. The 20+ authors in this anthology describe the challenge and imperative of achieving democratic and responsible governance of infrastructure. This publication is available in English and Spanish.
This issue of the G20-BRICS Update covers the hopes and fears for the G20 Summit in November 2014; outcomes of the BRICS Summit in July 2014; the G20's Global Infrastructure Initiative; and Korea's experience with public-private partnerships (PPP)s.