Panel discussion on ‘Role of G20 in creating global economic stability’

Tags: Summits International News

A recent panel discussion held in Dubai highlighted the important role of the G20 in creating global economic stability.

An overview of the news

• A panel discussion held in Dubai shed light on the vital role of the G20 in creating global economic stability. 

• The event took place on the sidelines of the International Conference jointly organized by the Indian Institute of Management Rohtak, Academy for Global Business Advancement, and Council for Strategic Affairs.

Importance of the G20

• The panelists highlighted the significance of the G20 in the current international order. 

• The group plays a multifaceted role in creating global economic stability, fostering inclusive growth, ensuring financial stability, promoting balanced and sustainable growth, and effectively managing and preventing crises.

Panelists and insights

• The panel consisted of Manjeev Singh Puri, former ambassador of India to Nepal, Prof Tatiana Karabchuk from UAE University, and Prof Mayssa Banat from Rafik Hariri University in Lebanon. 

• They provided valuable insights into the G20's role and its impact on global economic stability. 

• The discussion was moderated by Prof. Dheeraj Sharma, the Director of IIM Rohtak.

G20 as a platform for decision-making

• Ambassador Manjeev Singh Puri highlighted the G20's ability to bring together leaders from the world's largest economies and facilitate effective decision-making and implementation through national and multinational systems. 

• Despite lacking de jure power, the G20 possesses significant de facto power, making it influential in driving positive change globally.

Specific areas of impact

• The panelists delved into specific areas where the G20 can make a significant impact. 

• Prof Tatiana Karabchuk emphasized the importance of public opinion polls for informed decision-making and suggested the G20's role in implementing necessary changes in online education. 

• Prof Mayssa Banat emphasized the power of language education in overcoming barriers and shaping global economic policies.

G20's contribution to global economic stability

• The panel discussion showcased the diverse aspects of the G20's role in fostering cooperation among major economies and driving sustainable development. 

• The group's focus on inclusive growth, financial stability, crisis management, and balancing de jure and de facto power within global institutions is essential for global economic stability.