The meeting of the Group of Twenty large economies at the summit level took place in Hamburg in Germany last week. While the G20 was formed in 1999 in the wake of the Asian financial crisis, annual meetings at the summit level started only in 2008, after the 2007-08 financial crisis. Both crises emphasised the need for greater economic cooperation between the large countries, both developed and emerging. Last week’s meeting was supposed to focus on climate change and the US withdrawal from the Paris Accord on the issue. While no progress was made on this, at least four leaders displayed the “bhai-bhai” spirit, overlooking their differences on more contentious issues — the US and Russia on the one hand, and China and India on the other.
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