China set to make its mark on the G-20

Chinese president Xi Jinping
PHOTO: AFP

Like the G-20 summit last year in Brisbane, Australia, the upcoming gathering Nov. 15-16 in Antalya, Turkey will be remembered for keeping the grouping of the world's largest economies alive rather than for any transformative outcomes.

The next summit should be altogether different. With uncertainties growing about global growth and China's economic rebalancing, the stakes will be high. However, China, whose presidency of the G-20 will begin at the conclusion of the Antalya summit, is well positioned to maximise its role and is ready to invest time and political capital to push major issues forward.

Interestingly, China's G-20 leadership will coincide with Japan holding the rotating chairmanship of the G-7 and its hosting of a trilateral summit with China and South Korea, which will offer Tokyo a chance to contribute to the global economic governance agenda too.

With three globally important summits in quick succession -- the G-20 will be followed swiftly by the Asia-Pacific Economic Cooperation forum in Manila and then the East Asia Summit in Kuala Lumpur -- November is a key month for economic summitry. Yet this year's crop is likely to disappoint.

Turkey has had limited time to attend to the G-20 agenda, focusing instead on the Syrian war, its own internal conflicts, domestic elections and massive refugee flows. As a result, Turkey has set out a narrow G-20 summit agenda based on "inclusiveness, implementation, and investment."

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