THE Indonesia G20 presidency is a milestone in the country's active role in shaping the global agenda. Thirteen years ago in 2008, the G20 moved beyond its previous role of economic crisis management and became a global custodian of social welfare by addressing the global financial crisis. As the premier forum for international economic cooperation, G20 leaders reaffirmed their commitment to overcoming the global health and economic crisis, stemming from the pandemic. Anti-protectionismSince the global financial crisis, the relevance of the G20 has been measured by its results across a number of policy areas. A prominent example is the anti-protectionism pledge adopted during the global financial crisis, which was successful in averting trade wars and capital outflows in 2009.

Source: Manila Times February 22, 2022 02:02 UTC