Gandhinagar, 14/7: The most important takeaway from next week’s gathering of finance chiefs from the world’s biggest developed and emerging economies won’t be on the official agenda: who’s gaining in the battle for global influence between the US and its allies on one side and China and Russia on the other.
Group of 20 finance ministers and central bank governors convene in Gandhinagar, the capital of Prime Minister Narendra Modi’s home state Gujarat, in coming days, with key meetings set for July 17-18. Policymakers aim for progress on bolstering the resources of multilateral development banks, encouraging greater flows of credit to limit climate change and executing on a global corporate-tax deal that’s proven tough to finish.
Several top officials, including the German and UK finance heads and European Central Bank President Christine Lagarde, are expected to skip the meeting — which is sandwiched between last month’s global finance summit in Paris and the G-20 leaders’ conclave in September — a move that will lend importance to Treasury Secretary Janet Yellen’s attendance. She’ll be making her third visit to India in nine months, amid a concerted US push to strengthen ties with China’s giant neighbo
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