In One Sentence

• On November 22, the leaders of the G20 met for the first time on African soil in Johannesburg, adopting a declaration on the global climate crisis and rising debt levels, even as the United States boycotted the meetings.
• The leaders’ declaration was adopted despite opposition from the U.S. – the 2026 G20 chair – with the White House accusing the South African government of “refusing to facilitate a smooth transition of the G20 presidency” and forcing through the declaration in defiance of its objections.
• The G20 declaration also defended members’ commitment to ensuring food security “through open and non-discriminatory trade policies consistent with WTO rules” and supported exploration of critical minerals amid disruptions due to “unilateral trade measures.”
• At the summit, Chinese Premier Li Qiang urged the G20 to “accelerate the reform” of institutions like the World Bank, IMF, and WTO, reaffirming China’s support for debt relief for developing countries, and rejected “unilateralism and protectionism.”
• Premier Li also defended China’s need to “cautiously manage” exports of military-sensitive critical minerals while unveiling a global green minerals initiative, saying Beijing would “safeguard the interests of developing countries,” and “peaceful use of key minerals.”  
• Despite China’s assurances on critical minerals, Australia, Canada, and India announced a new Technology and Innovation (ACITI) Partnership on the sidelines of G20, agreeing to deepen cooperation on critical-minerals supply chains, emerging technologies, and green energy, and directed officials to meet in early 2026 to advance the initiative.

Mark the Essentials

• Echoing the G20 leaders’ declaration, UN Secretary General António Guterres called on members to “lead the way by dismantling trade barriers and ensuring trade-free access to their markets for the poorest countries.” 
• On the sidelines of the G20 Summit, Chinese Premier Li Qiang met German Chancellor Friedrich Merz and called for a “rational and pragmatic China policy” while asserting that “China and Germany are important economic and trade partners,” while Merz told German broadcaster DW that he plans to visit China next year.
• Premier Li also held discussions with Italian Prime Minister Giorgia Meloni, with Li calling for a fair, non-discriminatory environment for Chinese investors and Meloni emphasizing the need to “guarantee the security of global supply chains.”
• The Australia-Canada-India Technology and Innovation (ACITI) partnership is focused on green-energy innovation, critical minerals development, and the advancement of AI, with the joint statement vowing to “complement existing bilateral initiatives” to drive “further diversification of supply chains.” 

• Even as G20 countries agreed to band together in a win for multilateralism, tensions between the U.S. and South Africa escalated with White House Press Secretary Karoline Leavitt accusing South African President Cyril Ramaphosa of “running his mouth” after the leader observed that the Trump administration planned to send its acting ambassador to attend the summit.
• Despite strained ties with the U.S., South Africa’s trade minister Parks Tau expressed the hope that “trade discussions will continue” with Washington to reduce the 30% tariffs on the country’s imports.

Keeping an Eye On…

Multilateralism may not be healthy but one thing is certain – it is far from dead. Consider the issuing of a consensual Leaders’ Declaration at the G20 Summit in Johannesburg (rather than a Chair’s Statement or Summary) or the adoption of the Belem Package by 195 parties at the COP30 meeting in Brazil. In the area most impacted by Donald Trump’s return to presidency, trade policymaking, bilateral & plurilateral initiatives (from the EU-Mercosur Partnership Agreement to the China-ASEAN FTA upgrade) are providing a useful corrective. Clearly, multilateralism will push forward with or without the U.S. Possibly, multilateralist dealmaking is more easily accomplished without the presence of the U.S. at the high table. In this regard, too, the success so far of the Multi-Party Interim Appeal Arbitration Arrangement to resolve international trade disputes following the downing of the WTO’s dispute settlement arbitral body in the late-2010s by Washington.

That being said, the question mark that hangs over the future of multilateralism in the U.S.’ absence is a real one. Can the other major countries compensate for this absence by stepping up to the plate and swinging with greater policy ambition and purpose? None of the major countries did so in Johannesburg or Belem; indeed, each regressed in relative terms while putting forth their climate change-related national determined contributions (NDCs) for the next 10-year reporting period. Can the other major countries summon the intellectual leadership and convening power to deal with pressing global challenges, much like Biden and Treasury Secretary Yellen had sought to expand the concessional, high-quality financing envelope of multilateral development banks to alleviate poverty and assist with the green transition in poor countries? In Johannesburg, few concrete plans were forthcoming on ensuring debt sustainability, alleviating debt distress or mobilizing finance for a just energy transition for Africa, despite these being points of priority for the African chair. Foremost, can multilateral economic diplomacy get by when its largest economy and primary consumption market as well as the issuer of the world’s primary reserve currency is absent at the table? Judging from the utter lack of conversation on global economic imbalances (in which the U.S. is implicated too), which have increased to their widest point since the Global Financial Crisis of the late-2000s, the answer seems to be a resounding ‘no’. Multilateralism without the U.S. is fated to one that, at least at this moment, is high on process, low on ambition, and even lower on substance.   

Be that as it may, the biggest question mark today is the one that hangs over the Trump administration’s priorities as the G20 chair. Surely, it won’t be one of ‘solidarity, equality, and sustainability’, which had animated the South African chair. Perhaps a crisis in the U.S.’ frothy equity markets that ricochets across and cascades through the global economy could well furnish that purpose to an economically nationalist administration that is uninterested in the trappings of multilateralism. The G20 has proven itself to be a capable crisis-fighting body. On tackling broader, structural slow-burn challenges though, its record leaves much to be desired – with or without the U.S. at the high table.

Expanded Reading

• G20 declaration in defiance of US marks rare victory for multilateralism, Reuters, November 24, 2025
• China’s Li launches charm offensive on rare earths at G20, Bloomberg, November 23, 2025
• G20 South Africa summit sees China, allies drive agenda as US stays away, South China Morning Post, November 23, 2025
• China’s Li urges fair investor treatment in Italy, Reuters, November 23, 2025
• Carney signs onto AI and technology partnership with India and Australia, CBC, November 22, 2025
• Secretary-General’s Press Conference at the G20 Summit, United Nations, November 21, 2025
• Why German companies can’t quit China, DW News, November 21, 2025
• White House Says South Africa’s President Is ‘Running His Mouth’, The New York Times, November 20, 2025