As the G-20 summit approaches this Friday, it brings to the forefront some international economic policies, deals, and misfortunes. Hosted by Argentina this year, the summit will include representatives from the world's most robust economies. The main topics are set to include infrastructure, economic development, and food security; things Argentina itself struggles with as it continues to transition from government after government with a protectionist mindset to Mauricio Macri's more open-bordered approach. Macri has attempted to position his country well by building relations with both the Trump and Jinping administrations of the United States and China, respectively. This is a respectable accomplishment for his three years in office thus far because of the tension that exists between the US and China over trade disputes currently. The topic of these countries' qualms will surely be visited during the summit though perhaps not directly. I believe it unlikely that discussion at a two-day summit conference will help significantly move trade barriers between the nations but I think it should prove interesting to see what events unfold, especially whether or not Canada, Mexico and the US will sign the new North American Free Trade deal.
Additionally, the turn of events for Argentina as it plunges deeper into crisis will likely affect the discussions as well. It seems that intervention is required in the form of policy when it comes to the Argentinian economy as the $56 billion IMF credit line it was granted does not seem to be helping either enough or as quickly as it is needed. I'm interested to know what the thought process was behind lending that massive amount of credit when Argentina has previously defaulted on loans before. I think that Argentina is definitely in worse shape than other South American countries because of its previous protectionist policies. When you shock a system that has been in place for so long it can often get much worse before it gets any better and the inflation the country is experiencing is contributory to that.
Press, L. A. (2018, November 27). With G20 this week, Latin America in flux. Retrieved November 27, 2018, from https://santamariatimes.com/ap/international/with-g-this-week-latin-america-in-flux/article_8a930728-0f70-5065-8339-51afad323bfa.html