ABSTRACT

Issue Brief: United G20 Must Pave the Way for Robust Post-COVID-19 Recovery   [open pdf - 0B]

From the Document: "The world is facing unprecedented health and economic crises that require a global solution. Governments have locked down their economies to contain the mounting death toll from the COVID-19 [coronavirus disease 2019] pandemic. With this response well underway, now is the time to move into a recovery effort. This will require a coordinated response to the health emergency and a global growth plan that is based on synchronized monetary, fiscal, and debt relief policies. Failure to act will risk a substantial shock to the postwar order established by the United States and its allies more than seventy years ago. The most effective global forum for coordinating this recovery effort is the Group of 20 (G20), which led the way out of the global financial crisis (GFC) in 2009, the closest parallel we have to the current catastrophe. Eleven years ago, world leaders used the G20 meeting in London as the forum to deliver a unified response and a massive fiscal stimulus that helped stem economic free fall and prevented the recession from becoming a second Great Depression. A decade on, it is clear that the G20 is the only body with the clout to save the global economy."

Author:
Publisher:
Date:
2020-07
Series:
Copyright:
2020 The Atlantic Council of the United States
Retrieved From:
Atlantic Council of the United States: https://www.atlanticcouncil.org/
Media Type:
application/pdf
URL:
Help with citations