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Walking a middle path: the liberal international order, global economic governance, and India’s G20 presidency

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  • Suman Bery

Abstract

The article assesses India’s views on the evolving liberal international economic order through an analysis of India’s 2023 G20 presidency. Despite the G20’s commitment to strong, sustainable, balanced, and inclusive growth (SSBIG), economic and social performance and prospects for the least developed economies have steadily deteriorated over the past decade, further compounded by the Covid-19 pandemic, geopolitical polarization and the return of war in Europe. India used the G20 as a platform to craft a distinctive, heterodox view on contemporary growth and development challenges to support its own economic rise and to provide political and intellectual leadership of the Global South. It also brokered the induction of the African Union as a full member of the G20. Through effective economic diplomacy, India’s presidency delivered a consensus Leaders’ document that articulates a heterodox growth and development model for itself and other emerging and developing countries.

Suggested Citation

  • Suman Bery, 2024. "Walking a middle path: the liberal international order, global economic governance, and India’s G20 presidency," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 40(2), pages 339-349.
    • Handle: RePEc:oup:oxford:v:40:y:2024:i:2:p:339-349.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grae015
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    More about this item

    Keywords

    G20; economic governance; finance; India; geo-politics; multilateral development banks;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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