Conrad Liveris

G20 – Talkfest needs to become a “do-fest”

G20
Image: AFP PHOTO / POOL / Lisa Maree Williams

Conrad Liveris wraps up the G20 meeting, wanting the “boys” to “get on with it”…(maybe more would get done if there were more women heads of state? #justsaying)

 

Undoubtedly, the G20 was a trying few days for Australia and the Prime Minister.

Mr Abbott must be thankful the forum is coming to a close.

With a load of great focus and pressure to perform, throw in some criticism and you’ve got a regular Christmas.

The hard work is however only just beginning – implementation is the next big step. The G20 world leaders are going home to implement the Brisbane Action Plan and 2014 Communique and some need a rest for what has been a very busy few months.

Last week saw three major international conferences, with the G20 the crowning glory. Throw in Ebola, ISIS, questionable economic performance and a lack of genuine international coordination, and it has been a busy time for the heads of governments.

Brisbane G20 has commanded the leaders to intensify collective and individual efforts for strong, sustainable and balance economic growth.

The formation of the G20 occurred in a crisis mode – this call to arms is moving it in a different direction, to a global engine room. G20 leaders are committed to more than 2 percent global growth by 2018, an effort they will be undertaking through structural change, increasing public-private partnerships, direct infrastructure investment and incentivising investment – primarily through tax.

The G20 members are nothing if not ambitious as since the Global Financial Crisis, 30 million more people are unemployed, now above 200 million people globally. A massive effort is required to address this.

Throughout the Brisbane Action Plan, trade and tax change were at the core of what the leaders talked about. They want to be more collaborative. The global production chain is upon us. From here, leaders need to embed enduring and strategic relationships to foster global economic cooperation. Invariably this means more free trade agreements (like the one signed sealed and delivered by the PM between Australia and China, albeit after over a decade of talks to get the deal done), more outsourcing and countries finding their competitive advantage.

The G20 vision for the world is a less bound, a more liberal and a more engaged citizenry contributing to and benefiting from the economy.

Alright boys, get on with it.

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