G20 accounts for more than 90% of global output: Saudi Expert
Saudi expert in strategic studies and political science, Dr. Muhamad Al-Harbi, said that the G-20 represents two-thirds of the world’s population and more than 90% of the world’s output, which amounts to $88 trillion.
He added, during an interview with the Al-Ikhbariya channel, that the Ukrainian crisis has caused a shortage of supply chains worldwide, with slowing global growth, which may reach a stage of stagnation in conjunction with the climate, environment, and drought crisis.
Regarding the possibility that the G20 table represents the key to a solution to the crisis, Al-Harbi explained that the summit witnessed many bilateral meetings at the level of leaders, and perhaps a convergence of views, and a meeting between the US and China for the first time in a long time.
Al-Harbi pointed out that the discussion between the two countries revolved around balance, strategic competition, and support for poor and developing economies, pointing out that the volume of global debt has reached $300 trillion, and that approximately 57 countries are unable to repay debts, including 12 countries that are completely unable to repay debts.
