The recent G20 meeting in Brazil yielded limited consensus, with only sporadic agreements on issues proposed by President Lula. Deep divisions over sensitive topics like Ukraine and Israel and a lack of tangible outcomes have raised questions about the G20’s continued relevance in its current format.

As a political scientist noted, “There was no great progress, no declarations, very important leaders like Putin were missing, others were practically leaving the government, like Biden.” In short, “this meeting did not contribute much to the world’s political future.”

A retired ambassador commented on the lack of unity among Latin American nations, citing Mexico’s President AMLO’s absence from recent summits as a reflection of “clear disdain.” This division was further highlighted by visible tensions between Brazil’s President Lula and Argentina’s President-elect Javier Milei, a vocal critic of Lula and an ally of former Brazilian President Jair Bolsonaro. Despite these differences, pragmatism prevailed as Argentina and Brazil signed a significant agreement on gas supply, highlighting a willingness to prioritise national interests over personal or ideological conflicts. 

For Argentina, “the international policy pursued by President Milei has led him to have an important rapprochement with President-elect Trump and has allowed him to have very relevant meetings with Xi Jinping, Macron and other international leaders, which were far from being protocol meetings,” stated the political scientist. “Special attention must be paid to these links because if a series of conditions are met, Argentina could become much more important.”

“Special attention must be paid to [Milei pursuing international policy] because if a series of conditions are met, Argentina could become much more important.”

Political scientist, Mexico

China’s trade with Latin America reached a record USD 480 billion in 2023, marking an impressive 35-fold increase over two decades. Brazil continued as China’s largest trading partner in the region, with bilateral trade exceeding USD 157 billion that year. While Xi Jinping intends to expand China’s presence in Latin America, Mexico poses a unique challenge. Unlike Brazil and Argentina, Mexico’s economy and strategic priorities are deeply integrated with the United States and Canada through the US – Mexico – Canada Agreement (“USMCA”, formerly “NAFTA”), making closer ties with China a potentially risky endeavour.

In contrast, China is eager to strengthen its foothold in Argentina by completing two long-delayed dam projects in the south. “Undoubtedly, this was among Xi Jinping’s key requests,” noted a scientist, reflecting on China’s strategic approach.

Looking ahead, the next G20 meeting is likely to take on a very different tone. With Donald Trump’s return to power, the progressive priorities seen in recent years may shift to a more polarised agenda centred on ideological conflicts between the rising right-wing and progressive forces. This is "one issue that undermines Latin American unity.” The retired Ambassador elaborated, “Latin America does not have a common position on issues such as foreign debt, on topics such as the reform of the UN Security Council and even on challenges such as drug trafficking.”

“Latin America does not have a common position on issues such as foreign debt, on topics such as the reform of the UN Security Council and even on challenges such as drug trafficking.”

Retired ambassador, Mexico

Several other key topics crucial for Latin America were underemphasised during the G20 summit, such as debt relief for middle-income nations like Argentina. Climate financing for biodiversity preservation and renewable energy also lacked sufficient commitment despite the region’s vulnerability to environmental crises. Additionally, migration, a critical issue affecting countries like Mexico and Venezuela, was barely addressed, leaving gaps in global policy cooperation.

The G20 remains a critical platform for global dialogue, but its relevance is increasingly questioned amidst challenges in addressing multilateral reforms and pressing international issues. Latin America’s presence at the summit highlights its struggle for global recognition while showcasing opportunities for regional collaboration.

“Not much more is expected than the traditional push for bilateral meetings of presidents and for the G20, two decades after its inception, to deepen a genuine reform of the structures of multilateralism,” observed the retired Ambassador. As South Africa prepares to lead the next G20 and the looming 2026 Miami Summit under new US leadership, the bloc faces significant tests, leaving “many wondering whether the G20 will even make it to 2026 with the new White House tenant on 20 January 2025,” the retired Ambassador concluded.