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G20 and thereafter

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25.06.2019

By Choi Sung-jin

President Moon Jae-in will leave for Osaka, Japan, tomorrow to attend the Group of 20 summit, Friday and Saturday. The G20 summit can hardly come at a more delicate time, as major countries wrestle with changes in the global political climate, marked by a hegemonic battle between the United States and China, and rapidly spreading populism and political extremism in many parts of the world.

The meeting of the leaders of 20 major countries began in 2008 as an attempt to come up with measures to deal with the global financial crisis by coordinating the economic policies of advanced and emerging countries. Barely a decade has passed, but it has turned into an arena for a world powers' struggle.

In Osaka, the 20 leaders will exchange views on its official agenda, including global trade imbalances, free data flow and maritime plastic litter. However, there will be some bilateral summits on the sidelines of the main conference drawing more attention from experts and journalists.

Notably, the meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping could decide whether the global economy has to undergo a significant contraction amid a prolonged trade and technology war between the G2. Koreans will also be closely watching the outcome of the summit between its most important ally and its largest trade partner.

The escalating U.S.-Chinese rivalry, not just on the economic front, but also in the political and military domains, is........

© The Korea Times