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Sunday, Sep 26, 2021
Outlook.com

Roaring Twenties

Developing nations score at the G-20

Roaring Twenties
PTI
Roaring Twenties
outlookindia.com
-0001-11-30T00:00:00+05:53

It was a draw of lots that determined the seating arrangement at the dinner hosted by US President Barack Obama at Pittsburgh’s Phipps Conservatory and Botanical Gardens on September 24. For the G-20 leaders  though, its outcome was highly symbolic—on Prime Minister Manmohan Singh’s right was Obama and on his left  Chinese President Hu Jintao, an inadvertent signal of the emergence of a new world order. Indeed, Manmohan has successfully managed to impart a certain heft to India’s role in the G-20, now recognised as the main forum to discuss key economic problems besetting the world.

For some time now, the West and others have been passionately debating the relevance of the G-8, the elite club of the most developed nations, arguing that no panacea for global economic ills can be found without the participation of key emerging economies. Hence, the inclusion of the five outreach countries—India, China, Brazil, Mexico and South Africa—in recent G-8 summits. As for the Pittsburgh summit, it was...

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