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Global governance has failed to prevent new wars and promote international collaboration, he said
Global governance has failed, Prime Minister Narendra Modi said on Thursday as he emphasized the urgent need for unity of purpose and action to address this crisis.
In a video message to the G20 Foreign Ministers' Meeting which was held in New Delhi, Prime Minister Modi highlighted that the architecture of global governance, created after the Second World War, was to to prevent future wars by balancing competing interests and to foster international cooperation on issues of common interests.
"The experience of the last few years – financial crisis, climate change, pandemic, terrorism, and wars – clearly shows that global governance has failed in both its mandates" he said.
According to PM Modi, the "tragic consequences" of this failure were being faced most of all by the developing countries. "After years of progress, we are at risk today of moving back on the Sustainable Development Goals," he remarked.
Many developing countries were struggling with unsustainable debt, while trying to ensure food and energy security for their people, he pointed out. They were also the ones most affected by global warming caused by richer countries, he added.
This is why India’s G20 Presidency has tried to give a voice to the Global South, PM Modi said, emphasizing that no group can claim global leadership without listening to those most affected by its decisions.
While acknowledging the geopolitical tensions of the day, PM Modi also urged the leading economies of the world to focus on their responsibility towards those who were not in the room.
"The world looks upon the G20 to ease the challenges of growth; development; economic resilience; disaster resilience; financial stability; trans-national crime; corruption; terrorism; and food and energy security," he stated.
According to the Prime Minister, the G20 has the capacity to build consensus and deliver concrete results in all these areas.
During his address, PM Modi spoke about the challenges faced in recent years, including the Covid-19 pandemic, natural disasters, breakdown of global supply chains, and stable economies becoming suddenly overwhelmed by debt and financial crisis.
According to Prime Minister Modi, "These experiences clearly show the need for resilience – in our societies, in our economies, in our healthcare systems, and in our infrastructure".
He highlighted that the G20 has a critical role to play in finding the right balance between growth and efficiency on one hand, and resilience on the other.
"We can reach this balance more easily by working together," he remarked.
In a video message to the G20 Foreign Ministers' Meeting which was held in New Delhi, Prime Minister Modi highlighted that the architecture of global governance, created after the Second World War, was to to prevent future wars by balancing competing interests and to foster international cooperation on issues of common interests.
"The experience of the last few years – financial crisis, climate change, pandemic, terrorism, and wars – clearly shows that global governance has failed in both its mandates" he said.
According to PM Modi, the "tragic consequences" of this failure were being faced most of all by the developing countries. "After years of progress, we are at risk today of moving back on the Sustainable Development Goals," he remarked.
Many developing countries were struggling with unsustainable debt, while trying to ensure food and energy security for their people, he pointed out. They were also the ones most affected by global warming caused by richer countries, he added.
This is why India’s G20 Presidency has tried to give a voice to the Global South, PM Modi said, emphasizing that no group can claim global leadership without listening to those most affected by its decisions.
While acknowledging the geopolitical tensions of the day, PM Modi also urged the leading economies of the world to focus on their responsibility towards those who were not in the room.
"The world looks upon the G20 to ease the challenges of growth; development; economic resilience; disaster resilience; financial stability; trans-national crime; corruption; terrorism; and food and energy security," he stated.
According to the Prime Minister, the G20 has the capacity to build consensus and deliver concrete results in all these areas.
During his address, PM Modi spoke about the challenges faced in recent years, including the Covid-19 pandemic, natural disasters, breakdown of global supply chains, and stable economies becoming suddenly overwhelmed by debt and financial crisis.
According to Prime Minister Modi, "These experiences clearly show the need for resilience – in our societies, in our economies, in our healthcare systems, and in our infrastructure".
He highlighted that the G20 has a critical role to play in finding the right balance between growth and efficiency on one hand, and resilience on the other.
"We can reach this balance more easily by working together," he remarked.
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