German industry's expectations from the G20 summit are moderate
"German industry's expectations from the G20 summit are moderate. Since the inauguration of U.S. President Donald Trump, the G20 has been more concerned with damage control, obstructionism and national egoism than with solving global problems. Opportunities for a vital multilateral restart and leadership of the G20 have to rise again with Joe Biden as U.S. President.
German business urges the G20 to take the reins back as the driving force for multilateralism in the 21st century. Global problems, such as the struggle to deal with the corona pandemic and climate change, cannot be solved by unilateral action.
The G20 must press ahead with urgent reform of the World Trade Organization (WTO). The WTO is best placed to ensure fair competition between open market economies in Europe, North America and Asia on the one hand, and state capitalist systems like China on the other.”