Abstract
The global political economy is in a process of fundamental transformation. In institutional terms, this is most evident in the elevation of the Group of Twenty (G20) into the premier forum for global economic governance. Based on a logic of great power summitry, such a development raises particular challenges for the European Union (EU) and European powers, which are promoting an inclusive form of multilateralism. To what extent have European actors in the G20 been successful in promoting European values and standards? Are the EU and European states playing a leadership role in developing global economic governance? The analysis in this chapter shows that European influence has varied over time. At a principal level, European strategic action for norm export is trapped in a situation where it holds substantial representation and hence agenda-setting potential but faces difficulties over unitary/coherent action and lack of credibility in a setting that is less robust than the European preference. Within those parameters, however, there is room for agenda shaping, as recent developments indicate.
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Notes
- 1.
G20 members are Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States and the European Union. The G20 countries account for approximately 85 % of world GDP, 80 % of world trade, 65 % of world agricultural land and 77 % of production of grain.
- 2.
France (2011) invited the chairs of the African Union (AU), New Partnership for Africa’s Development (NEPAD) and Gulf Cooperation Council (GCC), while Korea (2010) invited the chair of Association of South-East Asian Nations (ASEAN). Canada (2010) invited the Netherlands while Mexico (2012) invited Chile, Colombia and Ethiopia. Russia (2013) invited Ethiopia (chair of AU), Senegal (chair of NEPAD), Kazakhstan, and Singapore (chair of Global Governance Group (3G)) among others. The UN Secretary General is present at all leaders’ summits, as are the heads of the IMF, WB, WTO, the Organization for Economic Cooperation and Development (OECD) and the Financial Stability Board (FSB). In addition, at Los Cabos (Mexican Presidency 2012), the heads of Food and Agricultural Organization (FAO) and the International Labour Organization (ILO) were in attendance.
- 3.
As time has passed, the word ‘our’ has often disappeared, and Russia has now taken this one step further by designating the G20 the ‘steering group for the global economy’.
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Bengtsson, R. (2015). The EU and Global Economic Governance: Playing the Role of a Global Leader?. In: Björkdahl, A., Chaban, N., Leslie, J., Masselot, A. (eds) Importing EU Norms. United Nations University Series on Regionalism, vol 8. Springer, Cham. https://doi.org/10.1007/978-3-319-13740-7_4
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