The once anticipated G20 summit now seems more like the "dreaded." Lagarde seems to summarize it perfectly:
“The principal threat stems from continuing trade tensions. The first priority should be to resolve the current trade tensions.”
- Christine Lagarde, managing director, International Monetary Fund (IMF), discussing the importance of modernizing international trading rules.
While some chose to focus on the fact that its business as usual, the conversations taking place will lead us to believe the contrary. One of the key indicators of what the Summit meant this year, was the presence of achievable goals rather than romantic envision of a reality that is non-existent.
With population aging and obsolete policies in place, the momentary stability which is being argued is not quite what it seems. Technology drives the conversation in a society that doesn't yet know how to use it, or seldomly understands it. The tensions around trade and tariffs, the global position of power, and the general circulation of capital seems to be drastically changing. While the western world seems to be playing catch-up, Asia is building the next 100 years ahead of its needs to do so, and in doing so, will ensure that prosperity will be granted to the better prepared.
The Socio-economic picture is not one to be envied by any means. Developing countries are struggling to implement general agreed policies to ensure the well-being and sustainability of the new up-and-coming working class. With a divergence of what the social-skill and labor deficit will be, the need for new educational models and realigned private sector policies further stress the pressure points between market expectation and supply compressing margins and forcing new creativity (data powered of course) to take the front seat.
As the IMF continues to propose and trade forward its need to create safety nets, the Plan "B" mentality deviates from the root causes which will allow social improvement to actually occur spiked by limited education platforms (beyond the classroom), the inability to fully adequate infrastructure programs (basic utilities) and the enormous issues with the devastation provoked by climate change are affecting the rural communities beyond what is perceivable to the untrained eye.
Efforts are there, they are simply mislead, or un-lead. The agenda has shifted as the powers have focused on propaganda based confrontation rather than collaboration. In paper, its seems that we are all seeking the same objective, the accords and documents are there, when reality is dictating differently. Isolation is obsolete, and with it, comes the demise of the world as we know it. Change is necessary, but not to in the sense to avoid what is here, but to perfect what we missed, to include what we discarded / disregarded or simply did not know.
Japan, as always, will manage to perfection to role of host to a level of envied protocol and astonishing attention to detail, we can only hope the resolutions will be at that level as well. Hosting at Osaka, the backdrop for a new era in global change needs to begin now. Change is not the responsibility of the G20, and the Summit now seems to have lost a bit of its traditional power to promote or even communicate a global sponsored vision of what the wold should be. It is now in the hands of the many to grasp the concept of right and wrong, of ethical, of empathetic and most of all, human.
Dr. Stephen C. Patton
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