G20
Prime ministers and presidents of 20 countries meet in Delhi from 9-10 September 2023. The main focus on the sustainable development and expecting to discuss about ongoing conflict between Ukraine and Russia.
What is G20?
This is established in the year 1999, when Asian financial crisis held on then financial minister and governor discuss the financial and economic issues of countries. Group of Twenty (G20) world’s largest economy countries get together and discuss economy of countries and also discuss on latest financial conditions and issues. G20 means group of twenty – in which 20 countries meet up that discuss about global economy. They based on account of “85% world economy output and 75% of world trade”. This is two third of global population.
When G20 is organized?
There is not fixed place where this summit held but in every year mid of the year it held and internationally topics raise and discuss in between countries presidents and prime ministers. In this year 2023, India assumed the presidency of G20 and this presidency is taking over from Indonesia. Delhi declared as ‘controlled zone’ for this G20 summit.
Who all participating in G20 summit?
First member is European union and 19 nations that include – Australia, Argentina, brazil, china, Canada, France, Germany, India , Italy, Indonesia, japan , Mexico, Russia, South Korea, south Africa, Saudi Arabia, turkey, the US and the UK. Spain is one country who is invited as guest in summit.
Some selected members are – Russia, Brazil, India, South Africa and China called as Brics.
Now this will expand because they invited six nations to join this summit these nations are- Egypt, Argentina, Iran, Ethiopia, Saudi Arabia and the unites Arab Emirates.
What expected agenda?
Recent years they broadly discussed about sustainable energy, climate changes, taxing in multinational companies and international debt forgiveness. Every year, G20 members’ presidencies take over and set agenda for meetings.
In the year 2022, Indonesia held that presidency and meeting was held in Bali.
In 2023, president of India wants to set agenda to discuss on sustainable development and also want to measure the economic growth of developing and developed countries. In this summit one-to-one discussion also held along with group session.
From white house that’s saying is US precedence Joe Biden will discuss on topics like tackling with climate changes, what should World Bank do to fight with poverty and Ukraine and Russia’s war.
What’s achieved through this G20 summit?
In the year 2008 and 2009, that’s was the financial crisis and all leaders of that summit agreed to rescue global economic system.
Critics’ agreements and these summits not successful that’s creating tension between rival’s countries. This summit is held for beneficial for different countries.
In the year 2019, meeting was in Osaka, US- Precedence and Chinese president agreed to deals on trade dispute.
Is it attracting protest?
This leaders’ summit take place in big demonstration. In the year 2010, summit was held in Toronto and anti-capitalist protester did protest of that summit. In the year 2009, a newspaper seller died during protest against G20 summit in London.
