What is G20 and how does it work?
The Group of Twenty, commonly referred to as the G20, is an international forum of major economies that plays a crucial role in addressing global economic challenges. In this article, we will delve into what the G20 is, how it operates, and the key functions it serves in the global landscape.
The G20 is a group of twenty major economies, both developed and developing, that come together to discuss and coordinate international economic policy. It was established in 1999 in the wake of the Asian financial crisis to foster dialogue and cooperation among its member states. The G20 comprises 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.
Economic Policy Coordination:
Financial Stability:
Trade and Investment:
Development and Inclusivity:
The G20 operates through a series of meetings, including annual summits, finance ministers’ meetings, and working group discussions. Here’s how it functions:
Leaders’ Summit:
Finance Ministers and Central Bank Governors:
Working Groups:
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