G-20 must 'walk the walk', not just 'talk the talk', to tackle pandemic fallout
THE clarion call issued by G-20 trade ministers following their videoconference on Monday was as important as it was welcome.
The joint statement pledged, in the midst of the coronavirus crisis, to take "immediate necessary measures" to facilitate trade, minimise supply chain disruptions, and that all emergency measures should be "targeted, proportionate, transparent, temporary" and adhere to World Trade Organisation rules.
The key now is to deliver upon these fine words, just as the grouping's presidents and prime ministers who convened last week must also on their pledges to do "whatever it takes" to tackle the economic and social fallout from the pandemic. The danger otherwise is that the G-20 will, yet again, be big on rhetoric but short on substance.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access