Hope and Reality at the G20

{
  "authors": [
    "David Rothkopf"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "",
  "programs": [],
  "projects": [],
  "regions": [
    "North America",
    "United States"
  ],
  "topics": [
    "Economy"
  ]
}

In The Media

Hope and Reality at the G20

With 26 delegations and a daunting list of economic issues to address, next week’s G20 Summit is unlikely to accomplish as much as the world is hoping.

By David Rothkopf

Published on Mar 24, 2009

Source: Wisconsin Public Radio's Conversations with Kathleen Dunn

With 26 delegations and a daunting list of economic issues to address, next week’s G20 Summit is unlikely to accomplish as much as the world is hoping. On Wisconsin Public Radio, David Rothkopf discussed the state of the world economy, painting a dire picture of the current situation yet leaving room for optimism regarding future growth.

“There is almost no place that you can think of in the global economy that doesn’t require a jump-start right now,” Rothkopf said. Therefore, the first priority should be to “stop the bleeding,” followed by policies that aim to restore growth. The G20 Summit, however, is likely to produce little consensus on the best policies to achieve these goals because it will be difficult to reconcile the widely varying economic plans of all 26 delegations. Some of the most important policy questions are likely to remain unresolved, including the debate over whether countries should embrace big stimulus packages and whether new international regulatory mechanisms should be established.

Nonetheless, Rothkopf noted that economies tend to repair themselves over time, predicting that the global economy might begin to see a resurgence in growth at the end of 2009 or the beginning of 2010. The interesting question is not whether we will recover but what the world will look like once we have emerged from this crisis. New industries will lead our future growth, perhaps with a focus on green industry, and existing industries may see large-scale changes. Inevitably, geopolitical relationships will shift, leaving a world with new opportunities and dilemmas.

About the Author

David Rothkopf

Former Visiting Scholar

David Rothkopf was a visiting scholar at the Carnegie Endowment as well as the former CEO and editor in chief of the FP Group.

Recent Work

In The Media
How Bush, Obama, and Trump Ended Pax Americana
- David Rothkopf
In The Media
A Bigger Clubhouse
- David Rothkopf

Economy North America United States

Carnegie India does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie India

Article
India’s Press Note 3 Gamble: Opening the FDI Door to China
On March 10, 2026, India’s Union Cabinet approved amendments to Press Note 3, a regulation that mandated government approval on all foreign direct investment (FDI) from countries sharing a land border with India. This amendment raises questions primarily about whether its stated benefits will materialize and if the risks have been adequately weighed. This piece will address the same.
Konark Bhandari
Article
What Could a Reciprocal Defense Procurement Agreement Do for U.S.-India Ties?
India and the United States are close to concluding a Reciprocal Defense Procurement Agreement (RDPA) that will allow firms from the two countries to sell to each other’s defense establishments more easily. While this may not remedy the specific grievances both sides may have regarding larger bilateral issues, an RDPA could restore some momentum, following the trade deal announcement.
Konark Bhandari
Commentary
India Signs the Pax Silica—A Counter to Pax Sinica?
On the last day of the India AI Impact Summit, India signed Pax Silica, a U.S.-led declaration seemingly focused on semiconductors. While India’s accession to the same was not entirely unforeseen, becoming a signatory nation this quickly was not on the cards either.
Konark Bhandari
Commentary
The Impact of U.S. Sanctions and Tariffs on India’s Russian Oil Imports
This piece examines India’s response to U.S. sanctions and tariffs, specifically assessing the immediate market consequences, such as alterations in import costs, and the broader strategic implications for India’s energy security and foreign policy orientation.
Vrinda Sahai
Paper
India-China Economic Ties: Determinants and Possibilities
This paper examines the evolution of India-China economic ties from 2005 to 2025. It explores the impact of global events, bilateral political ties, and domestic policies on distinct spheres of the economic relationship.
Santosh Pai

More Work from Carnegie India

Article

India’s Press Note 3 Gamble: Opening the FDI Door to China

On March 10, 2026, India’s Union Cabinet approved amendments to Press Note 3, a regulation that mandated government approval on all foreign direct investment (FDI) from countries sharing a land border with India. This amendment raises questions primarily about whether its stated benefits will materialize and if the risks have been adequately weighed. This piece will address the same.

Konark Bhandari

Article

What Could a Reciprocal Defense Procurement Agreement Do for U.S.-India Ties?

India and the United States are close to concluding a Reciprocal Defense Procurement Agreement (RDPA) that will allow firms from the two countries to sell to each other’s defense establishments more easily. While this may not remedy the specific grievances both sides may have regarding larger bilateral issues, an RDPA could restore some momentum, following the trade deal announcement.

Konark Bhandari

Commentary

India Signs the Pax Silica—A Counter to Pax Sinica?

On the last day of the India AI Impact Summit, India signed Pax Silica, a U.S.-led declaration seemingly focused on semiconductors. While India’s accession to the same was not entirely unforeseen, becoming a signatory nation this quickly was not on the cards either.

Konark Bhandari

Commentary

The Impact of U.S. Sanctions and Tariffs on India’s Russian Oil Imports

This piece examines India’s response to U.S. sanctions and tariffs, specifically assessing the immediate market consequences, such as alterations in import costs, and the broader strategic implications for India’s energy security and foreign policy orientation.

Vrinda Sahai

Paper

India-China Economic Ties: Determinants and Possibilities

This paper examines the evolution of India-China economic ties from 2005 to 2025. It explores the impact of global events, bilateral political ties, and domestic policies on distinct spheres of the economic relationship.

Santosh Pai