The club of finance ministers and central bankers who’ve steered the global economy through a quarter century of market meltdowns, recessions and the pandemic meet this week facing new headwinds to their goal of broader prosperity — tariffs and the imminent threat of trade wars.

The Group of 20 major economies has been instrumental in coordinating the response to crises like the COVID pandemic. But top officials from the U.S. and several other member states skipped the G20 finance ministers’ meeting in South Africa this week, raising questions about the group's continued relevance in a splintered global environment.

South Africa voiced dismay on Thursday that Group of 20 talks it hosted on global economic issues ended without consensus, after top officials from several countries skipped it and delegates remained far apart on issues such as climate finance.

Finance Minister Enoch Godongwana navigates complex global divisions at the G20 finance track meeting in Cape Town, achieving progress on work programmes despite geopolitical tensions preventing full consensus.

First Vice Finance Minister Kim Beom-suk has emphasized Korea's economic resilience despite its ongoing political uncertainty during his participation in the Group of 20 (G20) ministerial meeting this year,