Economist Cameron Bagrie has stressed the importance of the G20 summit for a global economy he says is "fractured".
The G20 is often seen as a delicate diplomatic dance, but Bagrie says the summit remains important and relevant.
"There's a whole lot of dents that are appearing in the economic armoury," he told The AM Show. "We want to see real economic leadership."
Bagrie said the world was about due for a "dip" in the economy.
- Relations with China 'back on track' - Donald Trump
- New Zealand vulnerable to global economy slowdown as Trump defends US-China trade war
- Donald Trump, Xi Jinping to restart trade talks
"We're looking over our shoulder a little bit nervously," he said. "The global economy has got more debt in it today than what it had prior to the global financial crisis."
Tensions have risen between economic powerhouses - the US and China - in recent weeks after negotiations collapsed in May.
But US President Donald Trump last week declared relations with China were "right back on track".
Bagrie told The AM Show: "These spats between China and America are worrying.
"[An] encouraging sign over the weekend is that it looks like they've taken a bit of a time out - whether that's a permanent one, whether things are toning back down in regards to trade wars or not is still a billion dollar question.
"The global economy at the moment; it's a high volatility world not a low one."
Newshub. / Reuters