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The G20 Summit in Rome, Italy

Who attended?

These past few days, the political leaders of the G20 member countries met in Rome to discuss a handful of issues. Some of the politicians who were present are: 

  • Alberto Fernandez (Argentina)
  • Scott Morrison (Australia)
  • Jair Bolsonaro (Brazil)
  • Justin Trudeau (Canada)
  • Xi Jinping (China)
  • Emmanuel Macron (France)
  • Angela Merkel (Germany)
  • Mario Draghi (Italy)
  • Narendra Modi (India)
  • Joko Widodo (Indonesia)
  • Manuel Lopez Obrador (Mexico)
  • Moon Jae-in (South Korea)
  • Vladimir Putin (Russia)
  • Salman bin Abdulaziz Al Saud (Saudi Arabia)
  • Cyril Ramaphosa (South Africa)
  • Recep Tayyip Erdogan (Turkey)
  • Boris Johnson (United Kingdom)
  • Joe Biden (United States)

Joining these political leaders was the President of the European Commission of the European Union, Ursula von der Leyen, and President of the Council of the European Union, Charles Michel. Antonio Guterres, general director of OMS, specifically discussed financial issues relating to the health of the world population.

What was discussed?

So, first and foremost I want to say my thoughts on the possible solutions that will be discussed in the hopes of resolving some of the world’s current Economics problems.

  1. The European Union will invest in the eco-transaction for social enterprises, which are present in nations like Germany and Netherlands, but not in Turkey or in the United States at the moment. Mario Draghi was noted as saying that the Turkish president did not consider the political circular economy. Therefore, there will be no equality in the sense of financial economics in the future, and as a result there will be more discrepancies in terms of environmental sensibility. 
  2. The markets will be more open to Artificial Intelligence. This is especially important as AI is now considered fundamental for new inventions and innovations. 
  3. The United States will invest more on the prototype of financial democracy. In general, it has been noticed that Biden’s government is more concerned with solving population problems than Trump’s government. 
  4. China will be the first world power nation. Compared with all other international markets, China is one of the best markets for social capital that Chinese companies can invest with and also for AI (Artificial Intelligence).

Conclusion

In general, I believe there will be considerable investments in innovation, but I also think there will be areas that will see more progress than others.

I believe the central areas will be capital growth, new health solutions and eco transactions, with a greater focus on the rights of employees. Meanwhile , I think that the semi-peripheral areas will be capital growth, new health solutions but also more consideration of people’s rights on goods and services and on working issues of industries. In my opinion, the periferica areas will be debts and stagflation. It is also possible that there will be problems about having credits as paying back debts may become difficult to do. However, also inflation and financial stagnation are likely to lead to many problems, meaning that no investments will be made into sustainable finance. 

Let’s hope there will be a graduating consideration of nations that are in critical situations, like Perù, Mexico, Spain, and many African countries.

Sources

  1. https://www.consilium.europa.eu/en/
  2. di Taranto, Giuseppe. “The History of Economics.” (2012)
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Weekly Summaries

1st of November – 7th of November

Elections in Japan

The governing Liberal Democrats won the elections, but it was closer than usual. The new prime minister, Fumio Kishida, was chosen by his party, the Liberal Democrats, only last month but was still able to lead them to a victory. The other candidate for the representative of the Liberal Democrats was Sanae Takaichi, who would have become Japan’s first female leader. In the end, the Liberal Democrats won 261 seats, easily making the 233 seats necessary to have a majority, but lost 23 seats compared to the 2017 elections. Interestingly, the Liberal Democrats’ main opposition party, the Constitutional Democratic Party, also lost seats, according to the New York Times. Prime minister Kishida is a former foreign minister but faces some charisma in the issues and is in fact often said to be “boring” by the Japanese press.

Other News

  • In pro-democracy protests after the coup in Sudan last week, three people were killed and more than 100 were injured.
  • 4 countries, the U.A.E., Bahrain, Saudi Arabia, and Kuwait called back their diplomats from Lebanon’s capital city, Beirut. The move comes after Lebanon’s information minister referred to the Yemen war as a “Saudi and Emirati aggression,” according to the New York Times.
  • The chief executive of the British bank Barclays stepped down after there was an inquiry by regulators into his relationship with Jeffrey Epstein.
  • A building collapsed at a construction site in Lagos, Nigeria, killing at least four people and trapping more than 100.
  • In Virginia, USA, a Republican governor, Glenn Youngkin, was elected last week. He is the first Republican governor to be elected in Virginia in more than a decade.