Overview G20

G20 Overview  : 

Introduction

The G20 is an international forum of the world's largest economies.

It was established in 1999 in response to the Asian financial crisis.

It comprises 19 countries and the European Union, representing around 80% of the world's GDP and two-thirds of its population.

Member Countries

The G20 member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, and the European Union.

These countries were selected based on their economic weight and regional representation.

Objectives

The primary objective of the G20 is to promote international financial stability.

It seeks to achieve this through policy coordination and cooperation among its members.

The G20 also addresses issues related to trade, investment, energy, and climate change.

Summit Meetings

The G20 holds annual summit meetings, where heads of state and government of member countries gather to discuss global economic issues.

The first G20 summit was held in Washington, D.C., in 2008, in response to the global financial crisis.

Since then, the summit meetings have been held in various locations around the world.

Accomplishments

The G20 has made several notable accomplishments since its inception.

It played a critical role in stabilizing the global economy during the 2008 financial crisis.

The G20 also facilitated the implementation of Basel III, a global regulatory framework for banks.

The G20 has taken steps to address climate change, including promoting the Paris Agreement on climate change.

Criticisms

Despite its accomplishments, the G20 has faced criticism.

Some have criticized the G20's lack of accountability and representation.

Critics argue that the G20 primarily serves the interests of the member countries and may not adequately address the needs of developing countries.

Conclusion

The G20 is an important forum for promoting international financial stability and addressing global economic issues.

While it has faced criticism, the G20 has made notable accomplishments and continues to play a significant role in shaping the global economy.

G20 summit hosting countries, along theme:

United States - 2008 - "Responding to the Global Financial Crisis"

United Kingdom - 2009 - "Framework for Strong, Sustainable, and Balanced Growth"

Canada - 2010 - "Recovery and New Growth"

South Korea - 2010 - "Shared Growth Beyond Crisis"

France - 2011 - "Innovative Growth for the 21st Century"

Mexico - 2012 - "Building Consensus for Fair and Sustainable Development"

Russia - 2013 - "Growth Through Quality Jobs and Investment"

Australia - 2014 - "Building and Sustaining Trust"

Turkey - 2015 - "Collective Action for Inclusive and Robust Growth"

China - 2016 - "Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy"

Germany - 2017 - "Shaping an Interconnected World"

Argentina - 2018 - "Building Consensus for Fair and Sustainable Development"

Japan - 2019 - "Human-centered future society"

Saudi Arabia - 2020 - "Realizing Opportunities of the 21st Century for All"

Italy - 2021 - "People, Planet, Prosperity"

Indonesia - 2022 - "Recover Together, Recover Stronger"

India - 2023 - "Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future”