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G-20 Summit
1
Synopsis
Introduction Organization Member Countries & Organization History Former G20 Chair Objective of G20 Summit Invites Summits 2
Synopsis
Critiques FAQ
3
Introduction
The Group of Twenty Finance Ministers and Central Bank Governors (G-20, G20, Group of Twenty) is a group of finance ministers and central bank governors from 20 economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank. Their heads of government or heads of state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade (including EU intratrade) and two-thirds of the world population 4
Why was the G-20 established?
The G-20 was established as a response to the Asian financial crisis of the late 1990s and to a “growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance,” according to the G-20’s public materials. A smaller group of industrialized nations has been meeting since the 1970s (the G-7 and G-8, which convene finance ministers and heads of government, respectively). In the 1990s, given the extent of the Asian financial crisis, government leaders decided to involve a broader group of countries, including emerging market countries, to deal with the turmoil. A group of 22 countries (“G-22”) and then a group of 33 countries (“G-33”) met on an ad hoc basis. The G-20 was created in 1999 as a more permanent international economic body that includes representation from emerging countries.
Organization
The G-20 operates without a permanent secretariat or staff. The chair rotates annually among the and is selected from a different regional grouping of countries. The chair is part of a revolving three-member management group of past, present and future chairs referred to as the Troika. The role of the Troika is to ensure continuity in the G-20's work and management across host years. The current chair of G20 is South Korea; after the G20 Summit during November 11-12, it will be handed over to . 6
Member Countries & Organization
In 2010, there are 20 of the G20. These include, at the leaders summits, the leaders of 19 countries and of the European Union, and, at the ministeriallevel meetings, the finance ministers and central bank governors of 19 countries and of the European Union. In addition, Spain and the Netherlands took part in the last 35 meetings despite not being recognized . 7
Japan Mexico Russia Saudi Arabia South Africa Republic of Korea Turkey United Kingdom United States of America
8
Argentina Australia Brazil Canada China India Indonesia Italy European Union
9
In addition to these 20 , the following forums and institutions, as represented by their respective chief executive officers, participate in meetings of the G-20
the Managing Director of the International Monetary Fund the Chairman of the International Monetary Fund the President of the World Bank International Monetary and Financial Committee the Chairman of the Development Committee
10
History
11
Why was the G-20 established?
The G-20 was established as a response to the Asian financial crisis of the late 1990s and to a “growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance,” according to the G-20’s public materials. A smaller group of industrialized nations has been meeting since the 1970s (the G-7 and G-8, which convene finance ministers and heads of government, respectively). In the 1990s, given the extent of the Asian financial crisis, government leaders decided to involve a broader group of countries, including emerging market countries, to deal with the turmoil. A group of 22 countries (“G-22”) and then a group of 33 countries (“G-33”) met on an ad hoc basis. The G-20 was created in 1999 as a more permanent international economic body that includes representation from emerging countries.
History The proposals made by the G-22 and the G-33 to reduce the world economy's susceptibility to crises showed the potential benefits of a regular international consultative forum embracing the emerging-market countries. Such a regular dialogue with a constant set of partners was institutionalized by the creation of the G-20 in 1999. 13
Former G-20 Chairs
1999-2001 Canada 2002 India 2003 Mexico 2004 2005 China 2006 Australia 2007 South Africa 2008 Brazil 2009 United Kingdom 2010 South Koriya
14
Objective of G-20 Summit
It studies, reviews, and promotes discussion (among key industrial and emerging market countries) of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization. 15
Objective of G-20 Summit
16
Invites
The invitees are chosen by the host country. For the 2010 summits, for example, both Canada and South Korea invited Ethiopia (chair of NEPAD), Malawi (chair of the African Union), Vietnam (chair of ASEAN), and Spain. Canada also invited the Netherlands (world's 16th largest economy) while Korea invited Singapore. Canada and South Korea invited seven international organizations: the United Nations, the International Labor Organization, the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development, the World Trade Organization, and the Financial Stability Board. 17
Summits
Date 1st D.C. 2nd 3rd 4th 5th 6th 7th
Host country November 2008
April 2009 September 2009 June 2010 November 2010 November 2011 2012
United States United Kingdom United States Canada South Korea Mexico
Host city Washington, London Pittsburgh Toronto Seoul Cannes TBD
18
Critiques
Global Governance Group (3G) response everybody wants 21st largest nation in the world, they want the G-21, and think it's highly unfair if they have been cut out. Norway is the largest contributor to development programs in the World Bank and United Nations, it is not a member of the E.U. and thus not represented in the G-20 even indirectly. Norway, like the other 180 nations not among the G-20, has little or no voice within the group. Store characterized the G-20 as a "self-appointment group“. Expanse of large amount of money.
19
FAQ
What are the criteria for G-20 hip ? In a forum such as the G-20, it is particularly important for the number of countries involved to be restricted and fixed to ensure the effectiveness and continuity of its activity. There are no formal criteria for G-20 hip and the composition of the group has remained unchanged since it was established.
20
FAQ
Can all member countries exert equal influence? Achieving consensus is the underlying principle of G-20 activity with regard to comments, recommendations and measures to be adopted. There are no formal votes or resolutions on the basis of fixed voting shares or economic criteria. Every G-20 member has one 'voice' with which it can take an active part in G-20 activity. To this extent the influence a country can exert is shaped decisively by its commitment.
21
THANK YOU
22
1
Synopsis
Introduction Organization Member Countries & Organization History Former G20 Chair Objective of G20 Summit Invites Summits 2
Synopsis
Critiques FAQ
3
Introduction
The Group of Twenty Finance Ministers and Central Bank Governors (G-20, G20, Group of Twenty) is a group of finance ministers and central bank governors from 20 economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank. Their heads of government or heads of state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade (including EU intratrade) and two-thirds of the world population 4
Why was the G-20 established?
The G-20 was established as a response to the Asian financial crisis of the late 1990s and to a “growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance,” according to the G-20’s public materials. A smaller group of industrialized nations has been meeting since the 1970s (the G-7 and G-8, which convene finance ministers and heads of government, respectively). In the 1990s, given the extent of the Asian financial crisis, government leaders decided to involve a broader group of countries, including emerging market countries, to deal with the turmoil. A group of 22 countries (“G-22”) and then a group of 33 countries (“G-33”) met on an ad hoc basis. The G-20 was created in 1999 as a more permanent international economic body that includes representation from emerging countries.
Organization
The G-20 operates without a permanent secretariat or staff. The chair rotates annually among the and is selected from a different regional grouping of countries. The chair is part of a revolving three-member management group of past, present and future chairs referred to as the Troika. The role of the Troika is to ensure continuity in the G-20's work and management across host years. The current chair of G20 is South Korea; after the G20 Summit during November 11-12, it will be handed over to . 6
Member Countries & Organization
In 2010, there are 20 of the G20. These include, at the leaders summits, the leaders of 19 countries and of the European Union, and, at the ministeriallevel meetings, the finance ministers and central bank governors of 19 countries and of the European Union. In addition, Spain and the Netherlands took part in the last 35 meetings despite not being recognized . 7
Japan Mexico Russia Saudi Arabia South Africa Republic of Korea Turkey United Kingdom United States of America
8
Argentina Australia Brazil Canada China India Indonesia Italy European Union
9
In addition to these 20 , the following forums and institutions, as represented by their respective chief executive officers, participate in meetings of the G-20
the Managing Director of the International Monetary Fund the Chairman of the International Monetary Fund the President of the World Bank International Monetary and Financial Committee the Chairman of the Development Committee
10
History
11
Why was the G-20 established?
The G-20 was established as a response to the Asian financial crisis of the late 1990s and to a “growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance,” according to the G-20’s public materials. A smaller group of industrialized nations has been meeting since the 1970s (the G-7 and G-8, which convene finance ministers and heads of government, respectively). In the 1990s, given the extent of the Asian financial crisis, government leaders decided to involve a broader group of countries, including emerging market countries, to deal with the turmoil. A group of 22 countries (“G-22”) and then a group of 33 countries (“G-33”) met on an ad hoc basis. The G-20 was created in 1999 as a more permanent international economic body that includes representation from emerging countries.
History The proposals made by the G-22 and the G-33 to reduce the world economy's susceptibility to crises showed the potential benefits of a regular international consultative forum embracing the emerging-market countries. Such a regular dialogue with a constant set of partners was institutionalized by the creation of the G-20 in 1999. 13
Former G-20 Chairs
1999-2001 Canada 2002 India 2003 Mexico 2004 2005 China 2006 Australia 2007 South Africa 2008 Brazil 2009 United Kingdom 2010 South Koriya
14
Objective of G-20 Summit
It studies, reviews, and promotes discussion (among key industrial and emerging market countries) of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization. 15
Objective of G-20 Summit
16
Invites
The invitees are chosen by the host country. For the 2010 summits, for example, both Canada and South Korea invited Ethiopia (chair of NEPAD), Malawi (chair of the African Union), Vietnam (chair of ASEAN), and Spain. Canada also invited the Netherlands (world's 16th largest economy) while Korea invited Singapore. Canada and South Korea invited seven international organizations: the United Nations, the International Labor Organization, the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development, the World Trade Organization, and the Financial Stability Board. 17
Summits
Date 1st D.C. 2nd 3rd 4th 5th 6th 7th
Host country November 2008
April 2009 September 2009 June 2010 November 2010 November 2011 2012
United States United Kingdom United States Canada South Korea Mexico
Host city Washington, London Pittsburgh Toronto Seoul Cannes TBD
18
Critiques
Global Governance Group (3G) response everybody wants 21st largest nation in the world, they want the G-21, and think it's highly unfair if they have been cut out. Norway is the largest contributor to development programs in the World Bank and United Nations, it is not a member of the E.U. and thus not represented in the G-20 even indirectly. Norway, like the other 180 nations not among the G-20, has little or no voice within the group. Store characterized the G-20 as a "self-appointment group“. Expanse of large amount of money.
19
FAQ
What are the criteria for G-20 hip ? In a forum such as the G-20, it is particularly important for the number of countries involved to be restricted and fixed to ensure the effectiveness and continuity of its activity. There are no formal criteria for G-20 hip and the composition of the group has remained unchanged since it was established.
20
FAQ
Can all member countries exert equal influence? Achieving consensus is the underlying principle of G-20 activity with regard to comments, recommendations and measures to be adopted. There are no formal votes or resolutions on the basis of fixed voting shares or economic criteria. Every G-20 member has one 'voice' with which it can take an active part in G-20 activity. To this extent the influence a country can exert is shaped decisively by its commitment.
21
THANK YOU
22
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