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Priorities for the G20: expert opinions (VIDEO)

15 January2019
Priorities for the G20: expert opinions (VIDEO)

On the first day, the anniversary 10th Gaidar Forum discussed the achievements, challenges, new risks and future priorities of the G20. The discussion was moderated by Marina Larionova, Director of the Center for Research of International Institutes of the RANEPA.

Ms. Larionova outlined the problems that the G20 is dealing with and has already coped with. So, one of the global problems for the G20 today is the rise of protectionism, sanctions and the risks of their extraterritorial use.

The next speaker, Sherpa in the G20, Svetlana Lukash, Deputy Head of the Presidential Experts Directorate focused on global trends affecting civilization and the global economy. She stressed that the priorities for the G20 are trade and the digital economy. In addition, this year it is planned to pay more attention to the challenges that previously did not attach special importance: population aging, climate change, in-depth analysis of the digital economy and new risks in various economic areas.

Gabrielle di Bella, Head of the Permanent Mission of the International Monetary Fund in the Russian Federation, believes that the G20 should also solve the tax evasion problem.

The first vice-president of Gazprombank, Denis Shulakov, raised the issue of using capital markets and stressed that such markets are a very disciplined area of finance, requiring transparency for effective work. According to the speaker, local capital markets can only develop through the adoption of international rules and advanced technologies and their interweaving.

The issue of the main risks of the G20 was raised by Martin Gilman, Professor of the National Research University - Higher School of Economics He drew attention to the enormous level of debt, which is 60% higher than during the global financial crisis. Therefore, the main task for the G20 is to manage risks and minimize them, because the consequences may be irreversible.

Natalia Volchkova, Professor, New Economic School (NES), made a detailed analysis of the difficulties that the G20 is facing today. The main emphasis was placed on the growth of protectionism. Since 2012, global trade has been growing more slowly than global GDP. Thus, it affects the share of exports of countries subject to protectionist measures, leading to a deterioration in trade and economic prospects. According to the speaker, the G20 does not pay enough attention to the WTO (World Trade Organization) problem. Since the WTO cannot reform itself, countries must agree to achieve the most effective results.

Another topic of discussion was the impact of digital technology on the economy. Zia Qureshi, a visiting research fellow at the Brookings institution, referred artificial intelligence and the Internet to digital technologies. He stressed that such technologies affect production, labor markets, and knowledge and information markets. The expert proposed the G-20 to use the potential of digital technologies, since we are living at a new stage of development – at the stage of digital globalization.

As a result, it was noted that a possible solution of problems to which the speakers paid attention during the discussion could be the unification of countries to form new rules in the system of international economic institutions.

All records of live broadcasts from the Gaidar Forum 2019

10th Gaidar Forum Organizers:

The Russian Presidential Academy of National Economy and Public Administration (RANEPA);
The Gaidar Institute for Economic Policy (Gaidar Institute);
The Association of Innovative Regions of Russia (AIRR).

The general partners of the Gaidar Forum are Gazprom and Gazprombank; strategic partners include Prosveshcheniye publishing house, Coca-Cola, Pharmstandard group, ACIG Group of Companies, the Russian Textbook Corporation, SANOFI, Novartis, Johnson & Johnson, Russian Railways, MSD, and Mastercard; EY, Cisco and Russian Direct Investment Fund are partners. This discussion’s partners are Philips, Cherkizovo and RVC.

The general information partners of the Gaidar Forum include the Rossiya 24 TV channel, Forbes global media company, RBC and TASS news agencies. The official information agency is Rossiya Segodnya. The general radio partner is Business FM. The strategic information partners are Kommersant Publishers, the RT TV channel, Interfax and Gazeta.RU. The main information partners are Profil weekly, FederalPress news agency, and Invest Foresight online magazine. The international information partners are Sputnik and Cision. Other media partners include PRIME news agency, Rossiyskaya Gazeta, RNS news agency, Radio Ekho Moskvy, News.Ru, Polit.ru, Parlamentskaya Gazeta, the PRO BUSINESS TV channel, Strategia magazine, AK&M, BRICS, Ekonomika i Zhizn weekly, National Banking Journal, Expert Tatarstan magazine, the Smart Country information platform, Financial One, Naans Media, and the Public Administration scientific political journal.

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