Global Economic Cooperation Views from G20 Countries

This book discusses issues such as global financial crisis and global governance, food security, energy sustainability, the global financial system, trade and protectionism, and growth and employment. Since the outbreak of the financial as well as nationa

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bal Economic Cooperation Views from G20 Countries

Global Economic Cooperation

Rajat Kathuria · Neetika Kaushal Nagpal Editors

Global Economic Cooperation Views from G20 Countries

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Editors Rajat Kathuria Indian Council for Research on International Economic Relations New Delhi Delhi India

Neetika Kaushal Nagpal Indian Council for Research on International Economic Relations New Delhi Delhi India

ISBN 978-81-322-2696-3 ISBN 978-81-322-2698-7  (eBook) DOI 10.1007/978-81-322-2698-7 Library of Congress Control Number: 2015952995 Springer New Delhi Heidelberg New York Dordrecht London © Indian Council for Research on International Economic Relations 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer (India) Pvt. Ltd. is part of Springer Science+Business Media (www.springer.com)

Foreword

With Turkey assuming responsibility for the G20 Presidency on 1 December 2014, it is worth reflecting on the 5th Annual ICRIER-G20 conference held in September 2013. The theme of that conference was ‘Governance and Development’, both prominent issues during Australia’s hosting of the G20. Australia sees the G20 as the right group to deal with twenty-first century issues. Its membership, which includes the right balance of advanced and emerging market economies, is broad enough to be relevant, but narrow enough to be effective. For us, it is extremely important that the G20 works effectively to provide political momentum on key issues facing the global economy. In the past few years, some have expressed concerns about the G20’s status as the world’s premier economic forum. There has been a perception that, with threats from the global financial crisis receding, the incentives for cooperation had diminished, the agenda had grown cumbersome as successive presidencies added to the G20’s work program, and Leaders, Finance Ministers, Central Bank Governors and the general public had found discussions less engaging and relevant. To counter this perception