What the article is about:
- The article talks about need of shift of agenda of G20 from commitment on aid and trade to collaboration around science and technology.
Relevance:
- GS2: Groupings and Agreements involving India and/ or affecting India’s Interest.
- GS : Preliminary exam.
Analysis:
- The article here is discussing how G20 can become more inclusive for global prosperity by crafting new approaches to overcome the acute global discord.
- G20: It is an informal group of 19 countries and the European Union (EU), with representatives of the International Monetary Fund and the World Bank.
- Members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the EU.
A new model of international cooperation:
- As role of united nations and world trade organisation is loosing the centrality, world needs institutional innovation.
- To take sides in the strategic competition countries require fresh thinking on the nature and form of collaboration from the G20.
The primary role of G20, which accounts for 95% of world’s patents, 85% of Global GDP, 75% of international trade and 65% of the world population, needs to be reoriented to prevent a clash of ideas to the detriment of the global good.
Common concerns:
- There is a need to recognise that we are all in the same boat, for example: in case of climate change.
- Emerging economies should no longer be considered the source of problems needing external solutions but source of solutions to shared problems.
- There should be global consensus in the Vienna declaration on human rights 1993.
- Principle of common but differential responsibilities for improving the quality of life of all households can guide deliberations in other fora on problems that seem intractable in multilateralism based in trade and aid.
- Harnessing the potential of the digital information technology revolution requires redefining digital access as a “universal service” that goes beyond physical connectivity to sharing specific opportunities available.
- Space is the next frontier for finding solutions to problems of natural resource management ranging from climate change related natural disasters, supporting agricultural innovation to urban and infrastructure planning.
- A major global challenge is the rapidly growing anti microbial resistance which needs new antibiotics and collaboration between existing biotechnology facilities.
Lastly, a Global financial transaction tax, considered by the G20 in 2011, needs to be revived to be paid to a Green Technology Fund for least developed countries
