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Restoring Growth

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Restoring Growth The G7 Research Group presents the 2020 G7 USA Virtual Summit Interim Compliance Report 17 March 2020 to 25 February 2021 Prepared by Meagan Byrd and the G7 Research Group 16 May 2021 www.g7.utoronto.ca [email protected] @g7_rg “We have meanwhile set up a process and there are also independent institutions monitoring which objectives of our G7 meetings we actually achieve. When it comes to these goals we have a compliance rate of about 80%, according to the University of Toronto. Germany, with its 87%, comes off pretty well. That means that next year too, under the Japanese G7 presidency, we are going to check where we stand in comparison to what we have discussed with each other now. So a lot of what we have resolved to do here together is something that we are going to have to work very hard at over the next few months. But I think that it has become apparent that we, as the G7, want to assume responsibility far beyond the prosperity in our own countries. That’s why today’s outreach meetings, that is the meetings with our guests, were also of great importance.” Chancellor Angela Merkel, Schloss Elmau, 8 June 2015 G7 summits are a moment for people to judge whether aspirational intent is met by concrete commitments. The G7 Research Group provides a report card on the implementation of G7 and G20 commitments. It is a good moment for the public to interact with leaders and say, you took a leadership position on these issues — a year later, or three years later, what have you accomplished? Achim Steiner, Administrator, United Nations Development Programme, in G7 Canada: The 2018 Charlevoix Summit G7 Research Group: 2020 G7 Virtual Summit Interim Compliance Report Contents Introduction .......................................................................................................................................................... 3 Research Team ..................................................................................................................................................... 4 Summary ................................................................................................................................................................ 6 1. Health: Public Health Measures ................................................................................................................. 11 2. Health: Addressing Risk .............................................................................................................................. 46 3. Health: Protecting Health and Safety ........................................................................................................ 68 4. Health: Strengthening Health Systems .................................................................................................... 104 5. Health: Data Sharing .................................................................................................................................. 127 6. Health: Coordinated Research Efforts .................................................................................................... 143 7. Health: Joint Research Projects ................................................................................................................ 160 8. Health: Medical Equipment ...................................................................................................................... 172 9. Health: Online Platforms .......................................................................................................................... 196 10. Health: Supporting the World Health Organization ........................................................................... 208 11. Health: Delaying the Spread of COVID-19 ......................................................................................... 231 12. International Cooperation: Global Response ...................................................................................... 265 13. International Cooperation: Science, Research and Technology ........................................................ 296 14. Global Economy: Restoring Confidence and Growth ....................................................................... 312 15: Global Economy: Economic Growth ................................................................................................... 328 16. Global Economy: Downside Risk ......................................................................................................... 345 17. Global Economy: Restoring Growth .................................................................................................... 360 18. Trade: Supporting Trade and Investment ............................................................................................. 384 19. Trade: Addressing International Supply Chains .................................................................................. 405 20. Trade: Facilitating International Trade .................................................................................................. 423 16 May 2021 2 G7 Research Group: 2020 G7 Virtual Summit Interim Compliance Report 17. Global Economy: Restoring Growth “In facing the economic challenge, we are determined not only to restore the level of growth anticipated before the COVID-19 pandemic[.]” G7 Leaders’ Statement Assessment No Compliance Partial Compliance Full Compliance Canada 0 France 0 Germany 0 Italy 0 Japan 0 United Kingdom 0 United States 0 European Union 0 Average 0 (50%) Background Economic growth has been on the agenda oF the G7 since its inception in 1975, when leaders stated that “[t]he growth and stability of our economies will help the entire industrial world and developing countries to prosper.”2972 Growth has never been as diFFicult since then as now, however, in light of projections that the COVID-19 pandemic will lead to a contraction of 5.2 per cent.2973 This is in contrast to the International Monetary Fund (IMF)’s projections before the pandemic, which predicted in January 2020 a global growth rate oF 3.3 per cent For 2020.2974 Furthermore, the COVID-19 pandemic has brought into greater light the deep inequalities in economic growth and prospects among countries around the world: according to the World Bank, in 2020, the pandemic is estimated to push 88 to 115 million people into extreme poverty (defined as living on less than USD1.90 daily) with that number potentially rising to 150 million by 2021.2975 Growth has been mentioned in a variety oF contexts at recent G7 summits. On 8 June 2015, the Leaders’ Declaration at the G7 Schloss Elmau Summit stated a “pivotal goal of strong, sustainable and balanced growth as well as job creation,” which was to recur Frequently at Future summits.2976 More speciFically, leaders stated that they “will Foster growth by promoting education and innovation, protecting intellectual property rights, supporting private investment with a business Friendly climate especially For small and medium-sized enterprises, ensuring an appropriate level of public investment, promoting quality infrastructure investment to address shortfalls through effective resource mobilization in partnership with the private sector and increasing productivity by Further implementing ambitious structural reForms.”2977 Other drivers oF growth 2972 Declaration of Rambouillet, G7 Research Group (Toronto) 17 November 1975. Date of Access: 13 December 2020. http://www.g7.utoronto.ca/summit/1975rambouillet/communique.html. 2973 June 2020 Global Economic Prospects - Pandemic, Recession: The Global Economy in Crisis, The World Bank (Washington DC) 8 June 2020. Date of Access: 13 December 2020. https://www.worldbank.org/en/publication/global-economic-prospects. 2974 January 2020 World Economic Outlook - Tentative Stabilization, Sluggish Recovery, International Monetary Fund (Washington DC) January 2020. Date of Access: 13 December 2020. https://www.imf.org/en/Publications/WEO/Issues/2020/01/20/weo- update-january2020. 2975 COVID-19 to Add as Many as 150 Million Extreme Poor by 2021, The World Bank (Washington) 7 October 2020. Data of Access: 13 December 2020. https://www.worldbank.org/en/news/press-release/2020/10/07/covid-19-to-add-as-many-as-150- million-extreme-poor-by-2021. 2976 Leaders’ Declaration: G7 Summit, G7 Research Group (Toronto) 8 June 2015. Date of Access: 13 December 2020. http://www.g7.utoronto.ca/summit/2015elmau/2015-G7-declaration-en.html. 2977 Leaders’ Declaration: G7 Summit, G7 Research Group (Toronto) 8 June 2015. Date of Access: 13 December 2020. http://www.g7.utoronto.ca/summit/2015elmau/2015-G7-declaration-en.html. 16 May 2021 360 G7 Research Group: 2020 G7 Virtual Summit Interim Compliance Report cited include “women’s economic participation[, which] reduces poverty and inequality,” “resource eFFiciency, which [leaders] consider crucial For the competitiveness oF industries,” and trade and investment.2978 Furthermore, leaders committed to putting “the protection of our climate, the promotion of health and the equal participation of all members of society … at the centre of [their] growth agenda.2979 On 27 May 2016, the G7 Ise-Shima Leaders’ Declaration stated that its commitments across almost all areas in which commitments were made that year were “to contribute to achieve strong, sustainable and balanced growth.”2980 With regards to speciFic measures, leaders committed under the Global Economy heading to “further investment in areas conducive to economic growth, such as environment, energy, digital economy, human resource development,
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