The significance of the Bali G-20 summit

Source: The post is based on the article “The significance of the Bali G-20 summit” published in The Hindu on 15th November 2022

What is the News?

The 17th annual summit of G20 countries is being organized at Bali, Indonesia.

What is G20?

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What is the agenda of the 17th G20 Summit?

The motto for this G-20 is Recover Together, Recover Stronger. 

Key Priorities: The summit will have three key priorities:

Global Health Architecture: This involves deliberations towards strengthening global health resilience and making the global health system more inclusive, equitable, and responsive to crises.

Digital Transformation: Deliberations here have centered on achieving the full potential of rapid digitalisation of the global economy by creating a new landscape of cooperation among nations.

Sustainable Energy Transition: The discussions have focussed on ways to accelerate the transition towards cleaner energy sources. In particular, since any such transition requires substantial investments, the efforts have been focused on finding a platform for such investments.

What makes this G-20 different from others?

For the world, this is the first G-20 since Russia began the war in Ukraine and the west imposed sanctions on Russia. Efforts will be made to build global consensus over issues that have clearly divided the world. 

For India, the importance of the summit of the world’s most advanced economies is that it is India’s turn to host the summit next.