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Developing countries want G20 to refocus on world
Published in The Saudi Gazette on 06 - 11 - 2011

20 summit was dominated by Europe's debt crisis, but developing countries want the grouping of major economies to refocus on a bigger global agenda that includes creating jobs, improving farming and fighting climate change.
China, Brazil and other rising powers won a bigger voice in US - and European - dominated global affairs following the 2008 financial crisis.
But flare-ups in the eurozone have distracted leaders from what they say should be efforts to reform global finance and improve life in poorer societies.
Now, as Mexico succeeds France as leader of the G-20, developing countries are pushing for more attention to long-term changes aimed at making the global economic system more equitable, increasing investment in Africa, making farming more productive and stimulating investment and trade.
“The key issue is not to allow the G-20 to be overwhelmed by the crisis in Europe,” said Mac Maharaj, a spokesman for South African President Jacob Zuma. Instead, “it should attempt to come up with a plan that incorporates bringing about growth in developing countries.”
The two-day G-20 summit in this Mediterranean resort was dominated by rapid-fire developments in debt-ridden Greece's chaotic politics and talk of how to strengthen the International Monetary Fund, both to play a bigger role in a European bailout and to help shaky economies elsewhere.
A joint communique issued Friday promised to reform financial industries to prevent a repeat of excesses that have prompted protests; invest in research to improve farm productivity; reform energy subsidies that encourage waste; and create jobs for young people.
But the financial crisis might mean governments are not paying enough attention to the long term, said Daniel Schwanen, an economist at Canada's Center for International Governance Innovation, a think tank.


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