The Senior Professor of Macroeconomics comments on international cooperation in the summit’s aftermath.
In a radio feature published on 28 June on German public broadcasters NDR, SWR, HR, RBB and MDR, Hertie School Senior Professor of Macroeconomics Dennis Snower argues that policies agreed upon at summits like the G7 need to be more specific to ensure they are implemented by heads of state and included in annual plans.
“The Paris Climate Agreement has shown that voluntary cooperation on common goals does not work,” he said. Furthermore, according to Snower, it is time for the G7 to spend at least 600 billion euros on climate change, energy, global health and infrastructure projects. International development should not have turned into “a competition between democracies and autocracies,” he said, referring to the global impact of Chinese development cooperation efforts.
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