Merkel tells G20 leaders growth must be sustainable

ANGELA MERKEL said yesterday that G20 leaders must focus on sustainable and inclusive economic growth rather than their own prosperity.

With an eye on anti-globalisation protests brewing in Hamburg before this week’s G20 summit, the German chancellor said in her weekly podcast that this year’s meeting will delve into issues such as distribution of wealth and consumption of resources.

They will sit alongside related issues like climate change, free markets, consumer protection and upholding social standards. “It’s not only going to be about growth, but rather sustainable growth,” Mrs Merkel said. “We’ve got to have a ‘win-win’ situation for everyone. The issues obviously revolve around: how do we achieve inclusive or sustainable growth?”

Tens of thousands of demonstrators marched in Hamburg yesterday ahead of the July 7-8 gathering. Thousands of police will protect the meetings of the world’s 20 largest economies.

Mrs Merkel outlined the issues as: “What are we doing with our resources? What are the rules for distribution of wealth? How many people are taking part? And how many countries are able to profit from that?”

Without mentioning the protests in Germany’s second-largest city, Mrs Merkel noted that these non-traditional issues were forced on to the G20 agenda. “If we simply try to carry on as we have in the past, the worldwide developments will definitely not be sustainable and inclusive,” she said.

“We need the climate protection agreement, open markets and improved trade agreements in which consumer protection, social and environmental standards are upheld.”