The G20 Growth Challenge in the Framework of the EU–East Asia Economic Relations

Abstract

With the broad aim of strong, sustainable, balanced and inclusive growth, the G20 has been contributing to the framing of global economic performance. This paper critically analyzes and assesses the progress in terms of achieving a number of economic objectives centered on the post-2008 global crisis challenge of economic growth revitalization; the analysis is based on the latest Communiques since Hangzhou in 2016 so as to highlight the areas of convergence (conversely divergence) between the different official texts. Results show that although many policy measures have been acted upon, growth and macroeconomic recovery is still unconvincing, due to a number of long-term challenges (Brexit, protectionism) that could reposition the main G20 actors and reframe the EU–East Asia economic relations. A last section therefore discusses the impact that these long-term economic challenges could have in terms of reframing the G20 actors by looking at several long-term scenarios.