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17 May 2011
GG2020 releases report on global economic governance
The Global Governance 2020 economic governance working group has written a report that depicts three different global economic scenarios in 2020. Published in May 2011, the report is titled Facing the Challenges – Three Scenarios for Global Economic Governance in 2020.
The working group comprised eight young professionals from China, Germany and the United States who came together as part of the Global Governance 2020 (GG2020) fellowship program. In their report, produced over the course of 2010 and 2011, the authors provide a platform to think of ways in which the global economy could develop and identify a series of implications that stem from their scenario-planning exercise. The list is meant to spark thought among practitioners concerned with designing forward-looking policies. The implications include:
- Trust in, and the legitimacy of, global governance must be maintained to ensure the success of the G20 and comparable forums.
- Complementary regional integration and global institutions are necessary to ensure a global economic governance system that is flexible enough to accommodate a future dominated by new growth economies and older, slower-growing (or stagnating) economies.
- The nexus between domestic politics and international developments remains key and will continue to influence the performance and rigor of global economic governance institutions.
- Balanced regional representation and responsible leadership are two key ingredients for global economic governance regime.
The GG2020 program brought together in all 24 young leaders – eight each from the United States, China and Germany – to jointly develop a vision for the system of global governance in the year 2020 and beyond. The program focused on the future of global governance in three key issue areas: climate change, nuclear non-proliferation and disarmament, and global economic governance.
The GG2020 program is jointly conducted by GPPi, the Hertie School of Governance, Woodrow Wilson School of Public and International Affairs at Princeton University, Brookings, Fudan University and the Shanghai Academy of Social Sciences. The program is generously supported by the Robert Bosch Stiftung and the Transatlantic Program of the German Government (ERP Grant administered by the German Ministry for Economics and Technology).
Read the full GG2020 nuclear governance report Facing the Challenges – Three Scenarios for Global Economic Governance in 2020.
For more information, please visit the GG2020 website or contact Joel Sandhu.