G-20 2014 summit and world economy
AS part of measures to eradicate abject global poverty, a new set of Millennium Development Goals (MDGs) is to be finalised and approved in 2015 by the United Nations General Assembly.
Mr Ban Ki-Moon, Secretary-General of the United Nations, told a press conference in Brisbane, Australia, venue of the Group of 20 (G-20) 2014 Summit that working groups had started to deliberate on the MDGs and that 17 of the goals had been identified with 169 targets covering economic, social and environmental sectors.
According to the UN Secretary-General, during 2015 that marked the 70th anniversary of the organisation, the General Assembly of heads of state and government would adopt and declare a new set of MDGs expected to end abject global poverty by 2030.
“Now, member states believe that if we are able to implement all the 17 goals, we will be really able to first of all eradicate the abject poverty by 2030 and then achieve climate-resilience economies and a prosperous and equitable society,” Mr Ki-Moon stated.
The new set of MDGs are to replace the present one that started in 2000 and expires in 2015. The goals of the first MDGs have been to reduce poverty and promote economic growth in developing countries.
The Secretary-General said the world faced serious security, development and environmental challenges. Pressures on people and the earth planet were building up.
He said the G-20 countries possessed not only the political power to set the world “on a better course but a political responsibility to do so”.
“The world must pursue an agenda that advances sustainability, addresses inequality and generates decent jobs especially for the young people,” the Secretary-General stated.
The G-20 Brisbane summit in Australia took place from November 15 to 16, 2014. It is the ninth summit of the group. The previous one took place in Russia last year. Turkey is expected to host the 10th next year.
The G-20 is a group of leaders of the world’s most industrialised nations. At its annual summit, the group deliberates on pressing global issues and recommends solutions to them.
The 2014 summit aims at promoting “strategic policy for growth, financial rebalancing, (assistance to) emerging economies, investment and infrastructure, employment and labour mobility”.
A communique issued at the end of the summit set out key areas in which the world leaders decided in consensus to achieve progress in 2015.
The summit agreed to increase global economic growth by two per cent for the next five years, to create jobs, increase trade and reduce poverty.
On infrastructure and investment, the G-20 committed itself to creating a four-year “infrastructure hub linking governments, private sectors, development banks and interested organisations”.
The summit also agreed on measures to reduce risk in financial systems, improve stability of banks, make taxation fairer, reduce corruption and strengthen global institutions.
Besides, the group decided to work together to increase energy supply, reduce emission of gases harmful to the environment and to stop the Ebola Virus Disease in West Africa that has infected more than 15,000 people and killed over 5,000.
Alongside the G-20 summit at Brisbane was the G-20 Youth Summit.
The G-20 Youth Summit is said to be “an official platform for young people from G-20 countries to have their voices heard on the most pressing global economic challenges”.
In a communique, the G-20 Youth Summit asked world leaders to promote youth entrepreneurship, labour mobility, employment and economic growth.
Downing of the Malaysian Airline Flight 17 and Russian policy towards Ukraine also dominated this year’s G-20 summit.
Australians had, in an opinion poll last July, decided by over 40 per cent that Russia’s President Vladimir Putin should not be allowed to attend the summit.
However, opinions among G-20 leaders were decided. It was known by September, 2014 that President Putin would attend the summit.
Australian Foreign Minister, Tony Abbot, has explained that the G-20 “is an international gathering that operates by consensus”.
“It’s not Australians’ right to say ‘yes’ or ‘no’ to individual members of G-20,” he added.
Canadian Prime Minister, Stephen Harper, in a jocular confrontation with President Putin at a retreat before official opening of the summit, was reported to have said to President Putin: “I guess I’ll shake your hand but I have only one thing to say to you: ‘You need to get out of Ukraine.’ “
President Putin reportedly responded by saying: “That’s impossible because we (Russians) are not there (Ukraine).
It started when President Putin approached the Canadian Prime Minister and stretched out his hand for a handshake.
President Putin’s visit was reportedly accompanied on arrival in Australia by a fleet of Russian ships including submarines that anchored in international waters.
Australia responded by deploying its warships and planes to watch movements of the Russian fleet.
It was not the first time that Russian warships accompanied the Russian President to an international gathering of world leaders such as the G-20 summit.
The 2014 G-20 summit visit by President Putin with warships was said to be alarming and unprecedented, especially because the Australian authorities were not given prior notice.
President Putin was reported to have left the summit before it ended.
It cost Australia 400 million Australian dollars to host the summit. Australia bought 16 bullet-proof Mercedes Benz cars for the use of visiting G-20 members, but the US and Russia shipped or flew in their own special bullet-proof cars for their Presidents.
Incidents involving Russia and some other members of the G-20 such as those mentioned above are indications that the Russian Federation is becoming increasingly isolated over its policy towards Ukraine and its reaction to the downing of Malaysian Airline Flight 17 that killed nearly 300 passengers, most of them nationals of Netherlands.
The European Union, US and some other Western countries had applied economic and political sanctions against Russia.
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