102 lines
3.3 KiB
YAML
102 lines
3.3 KiB
YAML
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abstract: 'The Group of 20 (G20) was launched as a leaders'' forum in the midst of
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the 2008 financial crisis and quickly agreed to undertake coordinated
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economic stimulus efforts. While those early measures helped stabilize
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the global economy, the negative impacts of the crisis on employment
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continued to mount through 2009. The leaders turned their attention to
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labour market issues; labour and employment ministers met in 2010 and
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thereafter. However, the G20 and a number of other countries erroneously
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reversed the stimulus approach beginning in Toronto in 2010, leading to
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weak recovery, entrenchment of unemployment and stagnation of wages.
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Labour ministers increasingly advocated more robust labour market
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policies, but were resisted by finance ministers. The leaders themselves
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agreed to increasingly strong statements on wages, inequality and social
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issues but most G20 countries did not implement them. When the political
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backlash against globalization emerged in 2016 the G20 was seen by many
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as part of the out-of-touch elite that failed to address the
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difficulties and economic anxiety suffered by many G20 member
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households. The G20 should adjust course by implementing, in a
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coordinated manner, policies that can increase employment and incomes
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and reverse growing inequality. This paper lays out two practical
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examples of such policies. The first is a coordinated increase in
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minimum wages across the G20 to provide direct support to low-wage
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workers, restart overall wage growth and increase demand. If implemented
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by the entire G20 this would provide a serious stimulus to global
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demand, which still remains weak, and avoid competitive undercutting
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among G20 members. The second is a coordinated increase in financing for
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programmes to help those who have lost as a result of globalization.
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Losers often suffer very harsh economic effects and few G20 countries
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compensate them adequately. A well-advertised, coordinated effort
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including policies such as these could demonstrate the relevance of the
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G20 to populations that have benefited little from the group''s efforts
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to date.'
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affiliation: 'Polaski, S (Corresponding Author), ILO, Policy, 2 Rue Poissy, F-75005
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Paris, France.
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Polaski, S (Corresponding Author), ILO Sherpa G20, 2 Rue Poissy, F-75005 Paris,
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France.
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Polaski, S., ILO, Policy, 2 Rue Poissy, F-75005 Paris, France.
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Polaski, S., ILO Sherpa G20, 2 Rue Poissy, F-75005 Paris, France.'
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author: Polaski, S.
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author-email: sandrapolaski@gmail.com
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author_list:
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- family: Polaski
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given: S.
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da: '2023-09-28'
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doi: 10.17323/1996-7845-2018-02-09
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files: []
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issn: 1996-7845
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journal: 'VESTNIK MEZHDUNARODNYKH ORGANIZATSII-INTERNATIONAL ORGANISATIONS
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RESEARCH JOURNAL'
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keywords: 'G20; international policy coordination; economic impacts of
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globalization; wages and incomes; international political economy'
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language: English
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number: '2'
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number-of-cited-references: '10'
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pages: 125-135
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papis_id: f0bb0d4c25c133242ceba8c87ae6e8a8
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ref: Polaski2018g20spromise
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times-cited: '1'
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title: 'The G20''s Promise to Create More and Better Jobs: Missed Opportunities and
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a Way Forward'
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type: Article
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unique-id: WOS:000443211000007
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usage-count-last-180-days: '0'
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usage-count-since-2013: '2'
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volume: '13'
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web-of-science-categories: International Relations
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year: '2018'
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