Resolving global regulatory polycrises

India should seize the moment of its G20 presidency to address the root causes of the universal crises, so that global regulators act much before there is 'blood in the Street'

India’s G20 presidency coincides with “polycrises” (as described by the World Economic Forum), several of which manifested in the financial system in recent months. Brinkmanship over the US debt ceiling impacted global financial markets; and developed country bank collapses and emergent risks like crypto — while seemingly contained at present — could have systemic global reverberations.

Heightened nervousness in financial markets and concerns over governance, sustainable growth, stability of markets, and rapid technological evolution have global regulators on tenterhooks. Generative artificial intelligence (AI) and machine learning (ML) and their (mis)use mandate urgent reskilling of regulators and policy makers. The extant climate