The G20 has traditionally focused on economic growth and financial stability. This is appropriate as long as social progress is closely tied to economic progress, but when economic and social progress becomes decoupled, an exclusive preoccupation with economic policy issues cannot quell public discontent. In this policy brief by G20 Insights, Dennis Snower of the Kiel Institute for the World Economy (IfW) suggests that the G20 is at a crossroads. It can retreat to a reaffirmation of nationalisms, or commit to a new form of multilateralism, guided by the primacy of social prosperity and the principle of subsidiarity. The G20’s objectives should be broadened to include resilient, inclusive and sustainable prosperity. This conception calls for a new worldview to underpin G20 policymaking, to generate social acceptance for cooperation in tackling multilateral problems, while allowing countries to nourish different national, cultural and religious identities.
http://www.g20-insights.org/policy_briefs/the-g20-at-a-crossroads-the-future-of-global-governance

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