G20 SUMMIT DUE TO THE NOVEL CORONAVIRUS PANDEMIC

G20 LEADERS SCHEME $5 TRILLION ECONOMY UPLIFT-

PUT HUMAN CARES, NOT ECONOMIC TARGETS, AT HUB OF GLOBAL FIGHT AGAINST PANDEMIC: PRIME MINISTER NARENDRA MODI

Notting the alarming social and economic costs to the novel coronavirus pandemic, Prime Minister Narendra Modi asked G20 leaders to put human beings and not economic targets at the center of the global cooperation to fight the disease.https://www.youtube.com/watch?v=uA-rPkAW6KY At the conclusion of the two and a half-hour, virtual G20 summit-which was not on an entirely economic agenda-the leaders decided to inject $5 trillion into the global economy. We are inserting over $5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to prevent the social, economic and financial impacts of the pandemic, a shared communique of the G20 leaders said. The leaders also agreed to donate to the WHO-led COVID-19 Solidarity Response Fund on an unpaid basis. According to an Indian government source, the G20 summit did not include any reference to the beginning of the crisis. This was in response to a possible face-off between the US and Chinese leaders. Modi, in his answers, noted that 90 percent of the COVID-19 cases and 88 percent of deaths were in G20 nations, even as they share 80 percent of the global GDP and 60 percent of the planet population. He called on the G20 to come out with a concrete activities plan. He also called on leaders to assist usher in new globalization for the collective well-being of humankind and have multilateral fora center of attentiveness on promoting the shared interests of humanity. As per a source, Modi told G20 leaders that, in many senses, globalization had failed us, the multi-lateral fora had become a platform to balance competing for individual interests. Thousands of previous lives have been lost to this crisis, Modi is learned to have told G20 leaders. And, even three months after the disaster, he said, We are still looking, working, trying to find a coordinated reaction.https://www.youtube.com/watch?v=uA-rPkAW6KY Although the G20 summit shows the international community can come together, it has taken some time for it to respond to a disaster of this magnitude and damage, the source recalled Modi telling the leaders. The summit was presided over by Saudi Arabia's King Salman bin Abdulaziz Al Saud. Chinese President Xi Jinping proposed that G20 health ministers meeting be convened as quickly as possible to improve information sharing, strengthen cooperation on drugs, vaccines and provide assistance where it can. We need to make a collective answer for control and treatment at the international level. This is a virus that regards no borders, Xi said. The G20 communique said We will carry on with to conduct bold and large-scale fiscal support. Cumulative G20 measures will amplify its impact, ensure coherence, and harness synergies. The magnitude and scope of this response will get the global economy back on its feet and set a strong basis for the protection of jobs and the recovery of growth. On the commerce front, the G20 must dispatch a powerful signal to reinstate confidence in the global economy by resuming, as soon as possible, the usual flow of goods and services, he said. Today, through our cooperation, we are assured that we, together, will overcome this disaster, and move forward towards a future where all people thrive, prosper and are healthful, he said.