Yasusi Kudo
President, The Genron NPO

The Group of 20 (G20) is among the most important global forums for international economic cooperation and coordination. International society has faced numerous issues, what will be main agenda at the G20 Summit?

This article is also published in the website of Council on Foreign Relation, as a roundup contributed by Council of Councils experts.

The arrival of President Donald J. Trump's administration is expected to limit the ability of the G20 to address global issues through international cooperation. President Trump's avowed "America First" policy and his preference for bilateral deals will continue to undermine the raison d'etre of the G20, which supports multilateralism by sharing the burden of leadership among its member countries. In addition, overt and covert moves by superpowers to bolster their influence by making use of the fragile international environment are likely to erode the foundation of the established frameworks that have hitherto sustained the world order.

German Chancellor Angela Merkel apparently intends to make "open markets, and free, fair, sustainable, and inclusive trade" a key focus of the summit this year. Given the instability of the international order, it may not be meaningless for the leaders of the world's major economies to come together for dialogue and impress upon the world that they are making continuous efforts for the common good. Regrettably, there is no other positive meaning to be found in the present state of the G20, and this year's summit will likely achieve nothing substantial. As shown by the wording of the communiqué issued at the G7 summit in Italy in May, the G20 will be another political show that uses ambiguous rhetoric to conceal instability and potential confrontations.

That said, the G20 forum remains important. Globalization, the maintenance of a liberal international order, and multilateral cooperation are of vital importance to the common interests of the world. At a time when there is a desperate need to rectify inequalities and instability, the role of the G20 will be much larger than before. Such being the case, it is becoming necessary to solidify cooperation among G7 members and other democratic states that share fundamental values in order to ensure that the G20 can continue to carry out its role.

The presence of the G7, whose members share the universal values of freedom, democracy, and international cooperation based on multilateralism, is vital for the reinforcement of global governance and the preservation of a liberal international order. Moreover, the G7-initiated global economic governance and international financial system form the foundations of global governance. Unified G7 attempts to take initiative in this area in the long term may hold the key to maintaining global stability. Indeed, the significance of the G7 democracies' concerted endeavors to strengthen global governance should not be underestimated.