Economist Jeffrey Sachs says Trump’s G20 boycott damages the US more than the world and isolates the country at a critical time for global leadership.
Economist Prof Jeffrey Sachs of Columbia University has criticised US President Donald Trump’s boycott of the G20 summit in Johannesburg this weekend, calling it “a big loss to the world, but an even bigger loss to the United States”.
Sachs described Trump as “a nasty selfish man” and said his refusal to accept the baton from South Africa to lead the G20 was “awful and irresponsible”.
He warned that Trump was isolating himself and undermining US influence.
Trump isolating himself and undermining US influence
His remarks followed concerns raised by former finance minister Trevor Manuel, who cautioned that South Africa might not be invited to the next G20 in Miami next year.
The Trump administration has already warned Pretoria against issuing joint declarations at the summit.
Sachs, who has advised three UN secretaries‑general and governments across Latin America, Europe, Asia and Africa, said the next four decades are crucial for Africa’s growth.
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He urged the continent to emulate Asia’s rapid development, noting Asia accounts for 60% of the world’s population compared to Africa’s 18%.
He argued Africa should embark on a continent‑wide growth strategy and create its own monetary system, including a single African currency.
“Africa needs its own financial and monetary system. Africa is not where it wanted to be; there should be an African strategy, not only the Agenda 2063 vision,” he said.
AU’s bureaucratic approach hampers progress
Sachs criticised the African Union’s bureaucratic approach, saying it hampers progress.
He urged Africa to move beyond reliance on Bretton Woods institutions such as the International Monetary Fund and World Bank which, he said, have failed to solve the continent’s problems.
Instead, he pointed to Brics, which is developing its own monetary system to reduce dependence on the dollar.
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