macroVS 27 -- Looking Past the G20

15 Summits, One War | Persistent Inflation Pressures

Between August 23 and September 9, no less than 15 Summits involving the world’s largest economies took place. All issued Declarations. Only a handful generated serious media coverage. Starting with the BRICS summit on August 23 and culminating with yesterday’s G20 Summit Declaration, the reconfiguration of global economic and policy priorities played out one meeting at a time.

The outcomes hold material implications for inflation dynamics and economic growth rates. But that does NOT mean that all the summits moved policy individually. It is the aggregate momentum that matters.

This year’s G20 summit DID deliver a material shift in policy, but only with respect to climate-related policy issues. See yesterday’s CRRM3 podcast for a deep dive on the climate and energy developments.

Today’s macroVS podcast takes the next step, by identifying how the 2023 autumn summits in general and the G20 Summit Declaration in particular will impact inflation dynamics. Listen to the Podcast:

macroVS Episode 27 -- Looking Past the G20

The full list of all 15 summits appears at the end of this post. To give you a sense of the depth and breadth, look at all the groupings and individual countries that were actively engaged: BRICS, ASEAN, European Union, G20, African Union, Argentina, Australia, China, Egypt, Ethiopia, Germany, India, Iran, Japan, Kenya, Singapore, South Korea, United Arab Emirates, United Kingdom, United States, Vietnam.