GGP | Global Governance
Policy Brief No. 201909
August 2, 2019
本文已发表于China Daily | July 31, 2019
G20 must play bigger role in governance
Ren Lin
When trade frictions among major economies escalated and talks were suspended, the G20 played a significant role in mitigating trade tensions, facilitating dialogue and safeguarding the multilateral economic governance mechanism. And since economies still face difficulties in settling trade disputes, the G20 should continue to help them negotiate and reach acceptable agreements.
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But the economies disagree with some of the existing WTO rules and the system of governance. Despite that, they are yet to find ways to improve them. Also, the economies don't have any agreement on how to govern emerging industries such as e-commerce and deal with behaviors harmful to the market. Which means there is a need to strengthen the global economic governance system by modernizing rules, especially those of the WTO.
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But this year the G20 faces more severe challenges. Although the G20 has provided a platform for major countries such as China and the United States to negotiate trade issues, some economies might not see the group in the same light. The G20 should therefore help the major economies coordinate their trade policies, in order to strengthen global economic governance. The G20 should also focus on devising rules that would help the major economies avoid conflicts and reach acceptable agreements.
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