Valdai Club

The fate of the G20 is an example of how difficult it is in the modern world to establish any formalized forms of international, or global governance. Despite the fact, that problems are increasingly truly global in nature, their solution is becoming increasingly national. States do their duty for their own citizens and, as a rule, do not take into account the interests of mankind as a whole.

It has been 10 years since the first G20 summit. The format has been preserved and consolidated as a global “economic directorate” of sorts. Although it is always tempting to review its previous decisions and the extent to which they are implemented, or recall that many of these are either mere frameworks or remain on paper like the notorious plan to prevent new protectionist measures, we must not forget that these meetings make it possible to maintain a measure of trust and forestall panic on global markets.