In December, India began its yearlong G20 presidency, taking over from Indonesia amid rising geopolitical tensions and economic uncertainty. Surging inflation has raised the specter of a global recession. To confront the looming global crisis, G20 countries must, first and foremost, coordinate macroeconomic policies. But first, G20 countries must overcome their tendency to favor the interests of major economies. While the G20 represents the world’s largest economies, the G Minor would represent the needs of emerging and developing countries that lack the diplomatic and military clout required to protect their interests on their own.

Source: Ethiopian News January 07, 2023 08:48 UTC