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US congresswoman Alexandria Ocasio-Cortez, posing for a photo with fashion designer Aurora James, attends the Met Gala in New York City on September 13, 2021 wearing a dress printed with the words “tax the rich”. The slogan has been a rallying cry for Democrats as they seek to remake the social safety net in the US. Photo: Getty Images / AFP

Outside In | Why global tax on super rich is least bad option to tackle crises

Amid the current wave of adversity, the wealthiest among us must acknowledge they are obliged to dig deeper into their pockets.

Amid the current wave of adversity, the wealthiest among us must acknowledge they are obliged to dig deeper into their pockets

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Opinion | The gig economy is failing workers and needs urgent reform

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Opinion | As Western-led order crumbles, can China and India fulfil their destinies?

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US first, China second-to-last among G20 ranking for diplomatic pay, study shows

Report by International Intrigue shows Beijing diplomats’ salaries are ahead of only Jakarta’s among 16 analysed G20 countries.

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The rankings were compiled by International Intrigue, a company created by former Australian diplomats. Photo: Shutterstock

Opinion | Richer nations should not stand in the way of a fairer global tax system

Tax cooperation would help ease economic distortions from the ultra-wealthy and free up resources to advance social and environmental goals.

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‘High expectations’ for Xi visit to Brazil over agribusiness, aviation deals

Post learns robust agenda planned, from signing of bilateral trade agreements to possible announcement of Belt and Road partnership.

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Open questions | Brazil’s vice-president talks China ties and boosting trade amid complaints

Geraldo Alckmin also discusses the decision to impose tariffs on Chinese steel and Beijing’s help after his country’s worst climate disaster.

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Illustration: Kakuen Lau

G20 pledges to work together to tax ultra-rich

The thorny topic of tackling tax-dodging billionaires dominated the two-day meeting of finance ministers in Brazil’s Rio de Janeiro.

In a first, Brazil reveals plan to join China’s Belt and Road Initiative

Luiz Inacio Lula da Silva sees synergy between the mainland’s interests and his country’s infrastructure gap as he pursues tangible results.

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Exclusive | Brazil, hosting G20 in November, seeks ‘simpler, objective’ final declaration

Rio de Janeiro city summit coordinator says Brazil’s objective is a statement ‘structured differently than in previous years’ that can avoid disputes among member nations.

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When Brazil hosts the G20 leaders’ summit in November, an organiser said, one objective would be to craft a final statement that is shorter and less controversial. Photo: Rio G20

Biden and Macron reach agreement on using Russian assets to help Ukraine

The G7 and European Union are considering how to use profits generated by Russian assets immobilised in the West to provide Ukraine with a large loan.

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US President Joe Biden and French President Emmanuel Macron. Photo: AFP

The View | Why the world needs a Bretton Woods 2.0

As Bretton Woods institutions falter, nations like China are pushing for reform that reflects the global reality amid challenges such as debt distress and climate change. While the most likely scenario is marginal changes to the international monetary system, multilateral collaboration should not be underestimated.

China and US agree to keep talking over Korean peninsula tension, missile tests

In video-link meeting with US representative Jung Pak, China’s envoy Liu Xiaoming says stable peninsula is in the interests of the region and the world.

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Brazil calls for reform of UN as it starts its G20 presidency

Brazil’s foreign minister called for reforms of the United Nations and other multilateral institutions while criticising their inability to prevent global conflicts.

G20 foreign ministers meeting in Rio de Janeiro, Brazil on Wednesday. Photo: Bloomberg

US secretary of state to meet with Brazilian and Argentine presidents next week

After taking part in a Group of 20 meeting, Antony Blinken is expected to meet with Luis Inacio Lula da Silva in Brasilia and Javier Milei in Buenos Aires.

US Secretary of State Antony Blinken will be traveling to Brazil and Argentina next week, the State Department said. Photo: Reuters

Senior Chinese officials voice concerns on US tariffs, investment curbs

Third meeting of Economic Working Group also covered financial cooperation within the G20 framework, industrial policies and debt issues.

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Opinion | Why neither China nor India will be leader of the Global South

China does not desire Global South leadership; India has the ambition but not the heft. For the sake of the Global South, both countries should serve as the anchors of a dawning Asian century.

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The View | Without a debt deal, low-income nations have no viable future

Lessons from the G20’s failed attempts at restructuring sovereign debt must be learned. Why not explore debt-for-development swaps, where loans are in effect turned into investments, and market-based alternatives such as packaging the debt into securities?

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A demonstrator with an anti IMF debt and G20 sticker takes part in a protest against a G20 finance ministers’ meeting in Buenos Aires, Argentina, in July 2018. Over the past three years, 18 sovereign defaults have occurred in 10 developing countries – more than the total over the past two decades. Photos: Reuters

Opinion | Indonesia’s push to join OECD ‘rich man’s club’ is misguided

Indonesia’s plans for an accelerated accession come as global concerns grow over the OECD’s transparency and fairness towards developing nations, particularly in its tax policies.

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Why India supporting Israel won’t be a deal breaker in bid to lead Global South

Global South countries will focus more on what India or China has to offer and not be fixated on the Israel-Gaza war, analysts say.

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Opinion | In a broken world, globalisation is dead. Long live globalisation lite

Tight coupling in a global world is breaking and we need a looser macro-management philosophy that allows for decentralised adjustments to different stresses and strains.

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Climate activists at the annual meeting of the International Monetary Fund and World Bank in Marrakech, Morocco, on October 12. The global growth model has seen growing inequality, low productivity and an over-reliance on central bank monetary policy. Photo: Reuters

Can Cop28’s plan to triple renewable energy finally edge out fossil fuels?

Targeting more renewable energy without limiting fossil fuel production is likely to slow the clean energy transition, a goal that many of the biggest fossil fuel producers are eyeing.

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A man walks past a “#COP28” sign in Abu Dhabi. Over 60 countries have already agreed to back the deal, spearheaded by the European Union, United States and United Arab Emirates, to triple renewable energy this decade ahead of the summit. Photo: Reuters

We must think how to stop ‘the tragedy’ in Ukraine, Putin tells G20

Addressing G20 leaders for the first time since the start of the war, the Russian president said Moscow had never refused peace talks with Kyiv.

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Russia’s Putin ‘to join virtual G20 summit’, chaired by India

The president did not travel to the last two G20 meetings, hosted by India in September and Indonesia last year, sending Sergey Lavrov, foreign minister, in his place.

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‘China will eventually, inevitably be reunified’ with Taiwan, Xi tells Biden

The Chinese leader indicated Beijing is not preparing for an invasion of the island, a US official said after the meeting in California.

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US President Joe Biden and his Chinese counterpart Xi Jinping at the Filoli Estate in Woodside, California, ahead of their meeting on Wednesday. Photo: AP

China sees Russia partnership as crucial to its great-power ambitions: Pentagon

US Defence Department calls out Beijing for ‘providing material support’ to Moscow in Ukraine war and heaping military pressure on Taiwan.

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Members of the People’s Liberation Army march outside the Great Hall of the People in Beijing, China, on Wednesday. Photo: Bloomberg

Hamas’ use of crypto to fund Israel strike is ‘a kick on the backside’ for Asia

In Asia, just Singapore and Hong Kong have regulated cryptocurrency markets but scandals, collapses of crypto exchanges continue to test investors’ faith.

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Ukraine war: US adds 42 Chinese firms to export blacklist for ‘support to Russia’

US Commerce Department says the businesses support Russia’s military by supplying microelectronics that can be used for missile and drone guidance systems.

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G20
The Group of 20, or G20 as it is more commonly known, is an annual meeting of leaders from 19 major nations plus the European Union.
last updated:
9 September, 2024
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