Can the G20 save globalisation?

Abstract

Globalisation is in crisis. The German Presidency of the G20 in 2017 faces an unprecedented challenge. The G20 cannot save globalisation on its own, but it can play a vital role in finding and facilitating the necessary solutions. This GIGA Focus analyses why the G20 is well-suited to taking on this task, how it might do so, and the pitfalls it must avoid. Globalisation is worth saving, but it needs to be reformed. The G20 might be the ideal forum to achieve this. Its strengths lie in its origins as a crisis management group, its flexible structure, and the critical mass of countries that it brings together along with its outreach processes. A G20 negotiation to rescue globalisation could take three shapes: a) Multilateralism is revitalised and globalisation duly reformed b) multilateralism is diminished and we get a lower-scale but renegotiated globalisation c) multilateralism ends and de-globalisation ensues. The G20 needs high-level individual and collective political commitment combined with sound issue-specific technical measures to renegotiate the bargain on globalisation. It also needs to address its legitimacy deficit while retaining its efficiency and flexibilty. The German presidency offers a unique opportunity to make the most of the G20 process and help solve the current crisis. For the G20 to successfully address the crisis of globalisation, three measures are important: a) Visionary leadership from the highest political levels b) issue-specific and research-backed technical solutions c) attention to enhancing the legitimacy of the group through existing outreach processes and greater inclusiveness towards non-members.