Journal of social protection research
Volume 5, Numéro 2, Pages 88-110
2024-12-31
The Role Of The G-20 & The Global South In Fostering Inclusive And Sustainable Economic Development
Authors : Prabhakar Akhilesh Chandra .
Abstract
This study meticulously examines the pivotal roles of the world’s powerful ‘Group of Twenty (G-20)’ and the Global South in fostering inclusive and sustainable economic development and highlighting its critical significance in mitigating global economic disparities. Through an exhaustive review of the literature and secondary data, the research evaluates the efficacy of G-20 strategies in promoting economic inclusivity and sustainability. The analysis delves into key domains such as trade, investment, finance, and development assistance, assessing the effectiveness of G-20 initiatives in addressing the specific needs of Global South countries, particularly in the realms of poverty alleviation, infrastructure development, and access to finance. Additionally, the study scrutinizes the impact of G-20 interventions on reducing economic disparities both within and between nations, emphasizing the integration of inclusive growth and sustainable development goals into policy frameworks. The role of South-South cooperation in augmenting G-20 efforts is also explored, highlighting its potential to complement and enhance the effectiveness of G-20 initiatives. By critically analyzing the G-20 and emerging the Global South, this research contributes to the discourse on global economic governance and development cooperation. It offers invaluable insights for policymakers and stakeholders, underscoring the necessity of coordinated and concerted efforts to forge a more equitable and prosperous global economic order. The study culminates in a series of recommendations aimed at optimizing future G-20 endeavours, thereby reinforcing the group's capacity to act as a catalyst for sustainable and inclusive global economic development.
Keywords
Global South ; G-20 ; New Global Order 2022 ; Intra-South Trade ; Self-reliance
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