Leaders from the world’s largest economies began arriving in New Delhi on Friday for the G20 summit, a pivotal gathering aimed at addressing pressing global issues ranging from trade tensions to climate change.
The summit, conceived in the wake of the 2008 financial crisis, is expected to provide a platform for diplomatic discussions and consensus-building.
However, this year’s meeting was marked by notable absences, with both Chinese President Xi Jinping and Russian President Vladimir Putin choosing not to attend. Their absence has raised concerns about the unity and effectiveness of the diverse group.
As the summit approached, diplomats had yet to reach a consensus on a joint communique, a typically routine task ahead of such gatherings.
No official explanation was provided for President Xi’s absence, though it is widely speculated that China aims to reshape traditional U.S.-led international alliances like the G20 to better align with its own interests. Instead of attending the summit, President Xi will host the leaders of Venezuela and Zambia in Beijing.
In the case of Russia, diplomatic backlash and ongoing war crimes charges have kept President Putin away from the summit. Moscow has been actively seeking to mitigate international condemnation of its invasion of Ukraine.
British Prime Minister Rishi Sunak commented on Putin’s absence, stating, “Once again, Vladimir Putin is failing to show his face at the G20. He is the architect of his own diplomatic exile, isolating himself in his presidential palace and blocking out criticism and reality.”
Despite these notable absences, U.S. President Joe Biden expressed confidence that the G20 summit would still be productive.
Market concerns have emerged over the potential escalation of a trade war between the United States and China, including rumors that China may ban Apple’s iPhones. U.S. National Security Advisor Jake Sullivan, en route to the summit, deflected questions about these rumors, stating that inquiries regarding China’s motivations and plans should be directed to Beijing.
Many G20 leaders are apprehensive that their economies could suffer collateral damage in the ongoing trade tensions between the world’s two largest economies. Economists have noted that U.S. restrictions on sensitive technology transfers to China have exacerbated a slowdown in the Chinese economy, though structural issues in China, such as a shrinking labor force, slower productivity, and an overheated real estate market, are also contributing factors.
Speaking in Delhi, U.S. Treasury Secretary Janet Yellen emphasized the global risks associated with a Chinese economic slowdown, saying, “China faces a variety of both short- and longer-term global challenges, economic challenges that we’ve been monitoring carefully. That said, China has quite a bit of policy space to address these challenges.”
Indian Prime Minister Narendra Modi, who is hosting the summit, sees this as an opportunity to bolster his international profile ahead of an upcoming re-election bid.
His prominent image adorns posters, placards, and billboards throughout New Delhi, underscoring his role as the face of the two-day summit. Modi’s leadership has been instrumental in discussions about expanding the G20 into a “G21” and including the African Union as a permanent member.
However, some of Modi’s efforts to address critical global issues, such as global debt restructuring and commodity price shocks following Russia’s invasion of Ukraine, have faced challenges.
A G20 energy ministers’ meeting held in July failed to reach a consensus on a roadmap to phase out fossil fuels or even mention coal, a key energy source for India and China.
As leaders continue to converge in New Delhi, the world watches with anticipation, hoping for fruitful discussions and collaborative efforts to address the myriad challenges facing the global economy and the environment.
