Dinesh Kamath's Editorial 'G20 should control China before solving global issues' that was published in Newsband

G20 should control China before solving global issues

A group of nations, representing 85 per cent of the world’s GDP and two-thirds of its population, under the banner of the G20, came together to discuss about how to prevent a looming economic crisis. One should not forget that the U.S. President Barack Obama had done a great job by tackling cleverly the 2008 crisis.

Among the major issues that found mention in the summit was the question of excess steel capacity in China resulting in a flood of cheap imports into India, the U.K. and other economies. Climate change was the other major agenda point. Numerous low-key objectives shared by multiple G20 members, such as strengthening enforcement against international tax avoidance and advancing cooperation on Base Erosion and Profit Shifting, certainly got a shot in the arm from this G20 gathering.

If the World wants to eradicate poverty by eliminating malnutrition the rich nations will have to reduce over consumption. Same goes with rich and poor in every country. World is facing two conditions - over consumption and under consumption in the field of food, health and energy. We have different talk shops ending without compromise and without solution. G 20 should come up with some practical steps.

Bush administration should be praised for reviving and revamping G-20, when the economic crisis erupted in 2008. But G-20 should form a secretariat of its own and even its own enforcing machinery instead of relegating the works to outside groups /agencies and the communiques. G-20 should not appear like Christmas Trees promising goodies but no action.

One should feel relieved about the fact that the fear that the global financial crisis of 2008 would lead to a worldwide depression has passed. As far as India is concerned, we should think, plan, act ahead with individuality, independence, and better Economics management. But that would need a more Imaginative and Visionary leadership - taking advantage of the potentials. Trying to align with anyone would not help. NAM did not get us anywhere. It was discarded since 1992. Even in 1970s by the addition of word 'socialist' we were never 'non-aligned'. Being a big economy and big country with a big population there is no way we can stand 'non-aligned'. Particularly at this time of our story. 70% youth cannot be wasted in the name of NAM which gets us no credible relations.

Lastly, G 20 hosted by China was not more fruitful except the agreement between China and US on Paris climate issue. India made a mention of Economic corridor via POK, China's obstruction through NPT membership to block India's NSG entry, and this made China accuse the West for playing the role of protectionist in global trade and claiming its supremacy. West and India rightly blame China and China tries to down-play the West. G20 should first bring China under control and then solve global issues across tables.