In as much as the world finds itself in the midst of fundamental geopolitical change the role of the G20 will become profoundly significant.
As students of journalism, St. Xavier’s Institute of Communications (XIC) in this blog we enumerate some of the main factors that will steer the course of geopolitics at this point and over the medium term.
Firstly Ukraine is one of the most important exporters of wheat in the world, and Russia's sanctions on the export have caused an already debilitated food shortage to worsen, especially in poorer countries.
Secondly given the rise in prices in the energy market that encapsulates oil, gas and even the electricity markets coupled with the food shortage, if persistent, can lead to a period of stagflation which is slowed growth combined with inflation. Therefore, energy is a priority on the G20 agenda.
Thirdly the outcomes of the global Supply Chain Disruptions which began due to the pandemic has been aggravated by Russia- Ukraine war.
It is imperative thus that all the members of G20 need to join forces to overcome the impending crises that are a consequence of it.
- Akul Sharma
Xavier's Institute of Communications