Interpreting the eight issues of the G20 summit (2)

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Interpreting the eight issues of the G20 summit (2)

(People's Daily Online) 08:46, August 28, 2013

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On development, the focus of topics includes food security, human resource development, financial inclusion, and infrastructure investment. Human resource development and sharing development experience continue the work of the "development consensus" of the Seoul summit.

On anti-corruption, motivated by the relative independence of financial regulatory functions and financial institutions, Russia proposes to strengthen the role of the independent anti-corruption agency under the G20 framework. The initiative is clearly a rational one, but is likely to meet resistance stemming from competing national interests. Measures to combat money laundering and transnational bribery have been hot topics over the past year, and also areas of broad agreement.

In the field of international financial regulation, the Financial Stability Board (FSB) under the G20 framework is playing an increasingly important role.

Meanwhile, it seems that the topic of trade issues continues to be treated as window-dressing. "Opposing trade protectionism" is a slogan that has featured in almost every summit declaration, but little genuine progress is made. In response to the changing patterns of global trade and investment, the G20 reaction is too slow and somewhat disappointing.

(The author is deputy Director of Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS))

Edited and translated by Zhang Qian, People's Daily Online

Read the Chinese version: 解析G20峰会八大议题; source: People's Daily Overseas Edition; author: Huang Wei