From the Executive Chairman
Welcome to our website where you can learn more about how the international community is assisting developing countries and other projects and issues that impact the global agenda and it’s outcomes. Each quarter we will focus on a topical issue such as the G20, security matters, privacy, intellectual property and how business is connected to them. I will be introducing thought leaders on important topics and our own experts will provide insight.
The Turkish G20 Contributions
Moving forward to China
While terror attacks in Beirut and Paris further the tensions of the refugee crisis, Turkey passes the baton to China with some unified resolve among members on what should be done on these latest challenges as well as the pre-planned agenda. The G20 has taken place at the coastal city of Antalya and the many issues on the agenda signal the challenges ahead. The economic downturn and the jobs crisis is seeing little improvement and most likely getting worse. But it’s the refugee crisis and its impacts on regional security that is towering above these because of its immediate impact and the potential for destabilizing Europe. This has been dramatically worsened by the terror events these past days. Among the big issues at the G20 Energy supply remained important. Commodities and oil prices have crashed and will lead to harder times for executives in these industries. The tears should however be spread around as pointed out at the recent joint press conference by the Secretary General of the UN and the head of the Red Cross who confirmed we are in the worst refugee situation since WW2. What is happening in the Middle East could see further disruption from the collapse of oil prices as the oil producers have falling revenues. I guess the bigger game has to take into account factors not only affecting the gulf region and the OPEC countries but the US and Russia. All of this is very real in Antalya, the G20 venue as it is close to Syria and the conflict going on is of geographic significance to Turkey. We need to understand what this is doing to business confidence and global trade as it is very clear there is a serious slow down everywhere including in China. The shipping giants like Maersk are experiencing as much as a sixty percent drop in profits and are laying off large numbers of workers as well as cancelling orders for new ships. This disruption is affecting the relatively peaceful era that we in the West have enjoyed since WW2. Of course this is only one of the massive disruptive waves that today are impacting developed and developing nations alike. The G20 is a powerful forum perhaps the most powerful, but it remains difficult for member states to achieve true consensus on the actions to be taken.