The impact of the G20 on Global economics is that it is a diminishing effect. The G20 is becoming irrelevant to the dynamics of global economics. Why? Because we are in the very early stages of the ‘economics of absolute necessity’. Climate Change will decide the dynamics of a Nation’s economic system and Climate Change will provide the pivot around which the World economic systems will rotate. ‘Absolute necessity’ is an economic system that seeks to maintain an equilibrium between supply and demand and mostly around its domestic economy. Climate Change will mean that supply routes in and out of a Country will be erratic and in some cases may be ‘climated out of existence’.
Let’s take China as an example. Food water and shelter – the order depending on which Climate disaster you are within, part of, fleeing from or recovering from. China’s economy will be swept away in a tidal wave of continual disasters. Just as it recovers from one another will begin until they are in tandem and then until the Climate is a constant ‘Climate Change’.
Our Governments can spout whatever ‘vote for me’ rubbish that they want but on the day the flood, tsunami, bushfire, drought, earthquake sends millions of their citizens fleeing the disaster they will no longer be relevant. Communities will have to take care of themselves.
Centralised Governments are not suitable for dealing with Climate Change. Beijing will not be able to order troops to quash the civil unrest that will accompany Climate Change if the troops can not get to the unrest.
Why China is bothering to build up its reefs in the South China sea is beyond sensibility. Rising sea levels will swamp the reefs and make them unusable.
Sooner or later the big light-bulb will go off in the minds of our intellectually challenged Governments and out of sheer fear and self-preservation they will take the necessary steps to address the accelerating rate of change of our Climate – but by then it will be too late.
I have continually written that the World Governments need to urgently map out Climate Change refugee routes in order to prepare for the millions that will be displaced by the disasters to come – I and others like me are ignored.
However, sooner or later Governments will have to prepare themselves for mass movements of people. Some Governments will use force to prevent entry into their countries but they will be overwhelmed by the sheer mass of Climate Change refugees.
The G20 will not matter when Nation’s will be struggling to cope with Climate Change. The new Bretton Woods Standards will be all that matters – water not Gold.