OSAKA: Donald Trump's go-it-alone approach and widening global differences on issues from trade to climate change are overwhelming the G20, analysts say, raising questions about whether the grouping still has a role to play in the world.
"The G20 was created as a forum for cooperation and the question may well be: have we reached the point where it can no longer serve that purpose?" said Thomas A Bernes, a fellow with Canada's Center for International Governance Innovation.
While that will likely calm financial markets for now, deep differences remain and the trade war is expected to simmer on. Oxford Economics said in a research briefing that global trade growth has likely dropped to zero, compared to around six percent year-on-year growth in early 2018 - the worst reading since mid-2009 during the global financial crisis.
Source: Energy Industry News (energyindustrynews.net)
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