Economic outcome of G20 summit

December 1, the G20 summit came to its end in the capital of Argentina, Buenos Aires, where a number of key issues were discussed - from global economic growth in the context of globalization and World Trade Organization reform to current issues related to uncontrolled migration and climate change. What can we conclude from the final document following the G20 Leadership Meeting?

First of all, we all have to admit that big politics has nothing to do with human feelings and does not take them into account. But no one wants to kill his illusions. Especially one’s optimism and hope that the attitudes of Donald Trump, Angela Merkel, and Emmanuel Macron to our authorities will not change. Yes, we all want to be protected and want to get that financial assistance. However, the likelihood that the White House, Germany or France would continue to tolerate our corrupt officials is too small.

In real life, we can see it soon, because, in Buenos Aires, the G20 leaders have approved the Anti-Corruption Action Plan for the next three years. Now we will actually know what does this austerity mode mean. And apparently, we have to go through this hard period of shock therapy. However, the agreements between US President Donald Trump and PRC Chairman Xi Jinping to suspend the introduction of new trade duties for 90 days still give hopes for preserving the stability of the global economy. Otherwise, the trade war between the two largest world economies threatens to have very dangerous consequences, especially for the emerging markets.