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The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the
European Union The European Union (EU) is a political and economic union of Member state of the European Union, member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million ...

European Union
(EU). It works to address major issues related to the
global economy The world economy or the global economy is the economy of all humans of the world, referring to the global economic system which includes all economic activities which are conducted both within and between nation A nation is a community of peop ...
, such as international
financial stability Financial stability is a property of a financial system A 'Financial system' is a system that allows the exchange of funds between financial market participants such as lenders, investors, and borrowers. Financial systems operate at national and ...
,
climate change mitigation Climate change mitigation consists of actions to limit global warming and Effects of global warming, its related effects. This involves reductions in human emissions of greenhouse gases (GHGs) as well as activities that reduce their concentration ...
, and
sustainable development Sustainable development is the organizing principle for meeting human development goals while simultaneously sustaining the ability of natural systems to provide the natural resources and ecosystem services Social forestry in India, Social ...

sustainable development
. The G20 is composed of most of the world's largest economies, including both industrialized and developing nations, and accounts for around 90% of
gross world product The gross world product (GWP) is the combined gross national income The Gross National Income (GNI), previously known as Gross National Product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of Gr ...
(GWP), 7580% of
international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. In most countries, such trade represents a significant share of gross dom ...
, two-thirds of the
global population upright=1.3, Population growth graph In demographics, the world population is the total number of human Humans (''Homo sapiens'') are the most populous and widespread species of primates, characterized by bipedality, opposable thumbs, ...

global population
, and roughly half the world's land area. The G20 was founded in 1999 in response to several world economic crises. Since
2008 2008 was designated as: * International Year of Languages *International Year of Planet Earth *International Year of Sanitation *International Year of the Potato Events January * January 1 – Cyprus and Malta adopt the euro. * January ...
, it has convened at least once a year, with summits involving each member's
head of government The head of government is either the highest or second highest official in the executive branch of a sovereign state, a federated state, or a self-governing colony, autonomous region, or other government who often presides over a cabinet (gover ...
or
state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of State * The State (newspaper), ''The State'' (newspaper), a daily newspaper in Columbia, South Carolina, Un ...
,
finance minister A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names across the world, such as "treasury", ...
,
foreign minister A foreign affairs minister or minister of foreign affairs (less commonly minister for foreign affairs) is generally a cabinet minister in charge of a state's foreign policy and relations. Difference in titles In some nations, such as India ...
, and other high-ranking officials; the EU is represented by the
European Commission The European Commission (EC) is the executive branch The executive is the branch of government exercising authority in and holding Moral responsibility, responsibility for the governance of a State (polity), state. The executive executes an ...

European Commission
and the
European Central Bank upright=1.2, Seat of the European Central Bank The European Central Bank (ECB) is the central bank of the Eurozone, a monetary union of 19 Member state of the European Union, EU member states which employ the euro. Established by the Treat ...

European Central Bank
. Other countries, international organizations, and
nongovernmental organizations upright=1.3, alt=A roomful of people, Europe-Georgia Institute head George Melashvili addresses the audience at the launch of the "Europe in a suitcase" project by two NGOs (the EGI and the Friedrich Naumann Foundation), which aims to increase ...
are invited to attend the summits, some on a permanent basis. At its 2009 summit, the G20 declared itself the primary venue for international economic and financial cooperation. The group's stature has risen during the subsequent decade, and it is recognized by analysts as exercising considerable global influence; it is also criticized for its limited membership, lack of enforcement powers, and for alleged undermining of existing international institutions. Summits are often met with protests, particularly by anti-globalization groups.


History


Founding

The G20 is the latest in a series of post–
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a World war, global war that lasted from 1939 to 1945. It involved World War II by country, the vast majority of the world's countries—including all the great ...
initiatives aimed at international coordination of economic policy, which include institutions such as the "
Bretton Woods twinsThe Bretton Woods twins refers to the two multilateral organizations created at the Bretton Woods Conference The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates f ...
", the
International Monetary Fund The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. It claims to be "working to foster global monetary cooperation, secure financial stability, facilit ...

International Monetary Fund
and the
World Bank The World Bank is an international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its ow ...
, and what is now the
World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international ...
. The G20 was foreshadowed at the Cologne summit of the G7 in June 1999, and formally established at the G7 Finance Ministers' meeting on 26 September 1999 with an inaugural meeting on 15–16 December 1999 in Berlin. Canadian finance minister
Paul Martin Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian politician and author who served as the 21st prime minister of Canada The prime minister of Canada (french: premier ministre du Canada, lin ...

Paul Martin
was chosen as the first chairman and German finance minister
Hans Eichel Hans Eichel (born 24 December 1941) is a German politician ( SPD) and the co-founder of the G20, or "Group of Twenty", an international forum for the governments and central bank A central bank, reserve bank, or monetary authority is an i ...

Hans Eichel
hosted the inaugural meeting. A 2004 report by Colin I. Bradford and Johannes F. Linn of the
Brookings Institution The Brookings Institution, often referred to simply as Brookings, is an American research group founded in 1916 on Think Tank Row in Washington, D.C. It conducts research and education in the social sciences, primarily in economics (and tax poli ...
asserted the group was founded primarily at the initiative of Eichel, the concurrent chair of the G7. However, Bradford later described then- Finance Minister of Canada (and future
Prime Minister of Canada The prime minister of Canada (french: premier ministre du Canada, link=no) is the first minister of the minister of the Crown, Crown. The prime minister acts as the head of government for Canada, chairs and selects the membership of the Cabin ...
)
Paul Martin Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian politician and author who served as the 21st prime minister of Canada The prime minister of Canada (french: premier ministre du Canada, lin ...

Paul Martin
as "the crucial architect of the formation of the G-20 at finance minister level", and as the one who later "proposed that the G-20 countries move to leaders level summits". Canadian academic and journalistic sources have also identified the G20 a project initiated by Martin and his American counterpart then-
Treasury Secretary The United States secretary of the treasury is the head of the United States Department of the Treasury The Department of the Treasury (USDT) is the national treasury of the federal government of the United States The federal gover ...
Larry Summers."Who gets to rule the world"
Sean Kilpatrick.
Maclean's Magazine ''Maclean's'' is a Canadian news magazine that was founded in 1905, reporting on Canadian issues such as politics, pop culture, and current events. Its founder, publisher John Bayne Maclean, established the magazine to provide a uniquely Canadian ...
(Canada). 1 July 2010
Thomas Axworthy
"Eight is not enough at summit."
''Toronto Star''. 8 June 2007. Retrieved 16 April 2011.
All acknowledge, however, that Germany and the United States played a key role in bringing their vision into reality. Martin and Summers conceived of the G20 in response to the series of massive debt crises that had spread across
emerging market An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were ...
s in the late 1990s, beginning with the
Mexican peso crisis The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation In macroeconomics Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics Economic ...
and followed by the
1997 Asian financial crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. The crisis started in Thailand (kno ...
, the
1998 Russian financial crisis The Russian financial crisis (also called ruble crisis or the Russian flu) hit Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the Russian rouble, ruble and sovereign default, defaulting on its ...
, and eventually impacting the United States, most prominently in the form of the collapse of the prominent hedge fund
Long-Term Capital Management Long-Term Capital Management L.P. (LTCM) was a hedge fund''A financial History of the United States Volume II: 1970–2001'', Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 based in Greenwich, Connecticut, Greenwich, Co ...
in the autumn of 1998. It illustrated to them that in a rapidly globalizing world, the G7, G8, and the Bretton Woods system would be unable to provide financial stability, and they conceived of a new, broader permanent group of major world economies that would give a voice and new responsibilities in providing it. The G20 membership was decided by Eichel's deputy
Caio Koch-Weser Caio Kai Koch-Weser (born July 25, 1944 in Rolândia, Brazil) is a German economist, civil servant and business executive. He was Secretary of State in the Federal Minister of Finance (Germany), Federal Ministry of Finance 1999–2005. Prior to be ...

Caio Koch-Weser
and Summers's deputy
Timothy Geithner Timothy Franz Geithner (; born August 18, 1961) is a former American central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a State (polity), state or formal moneta ...
. According to the
political economist Political economy is the study of Production (economics), production and trade and their relations with law, Custom (law), custom and government; and with the Distribution (economics), distribution of national income and Economic wealth, wealth. ...
Robert Wade:


Early topics

The G20's primary focus has been governance of the
global economy The world economy or the global economy is the economy of all humans of the world, referring to the global economic system which includes all economic activities which are conducted both within and between nation A nation is a community of peop ...
. Summit themes have varied from year to year. The theme of the 2006 G20 ministerial meeting was "Building and Sustaining Prosperity". The issues discussed included domestic reforms to achieve "sustained growth", global energy and resource commodity markets, reform of the World Bank and IMF, and the impact of demographic changes due to an aging world population. In 2007, South Africa hosted the secretariat with Trevor A. Manuel, South African Minister of Finance as chairperson of the G20. In 2008,
Guido Mantega Guido Mantega (; born 7 April 1949) is an Italian Brazilian , pt, ítalo-brasileiros) are Brazilians, Brazilian citizens of full or partial Italians, Italian descent. Italian Brazilians are the largest number of people with full or partial Italia ...

Guido Mantega
, Brazil's Minister of Finance, was the G20 chairperson and proposed dialogue on competition in financial markets,
clean energy The use of energy is considered sustainable if it meets the needs of the present without compromising the needs of future generations. Definitions of sustainable energy include environmental aspects such as greenhouse gas emissions Greenhouse ...
, economic development and fiscal elements of growth and development. On 11 October 2008 after a meeting of G7 finance ministers,
US President The president of the United States (POTUS) is the head of state A head of state (or chief of state) is the public persona who officially embodies a state (polity), state#Foakes, Foakes, pp. 110–11 " he head of statebeing an embodime ...
George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who served as the 43rd president of the United States The president of the United States (POTUS) is the head of state and head of government of the United ...

George W. Bush
stated that the next meeting of the G20 would be important in finding solutions to the burgeoning
economic crisis of 2008 The Great Recession was a period of marked general decline (recession In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop ...
.


Summits

The Summit of G20 Finance Ministers and Central Bank Governors, who prepare the leaders' summit and implement their decisions, was created as a response both to the
financial crisis of 2007–2008 The financial crisis of 2007–2008, also known as the global financial crisis (GFC), was a severe worldwide financial crisis. Excessive risk-taking by banks, combined with the bursting of the United States housing bubble, caused the values of s ...
and to a growing recognition that key
emerging countries An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were ...
were not adequately included in the core of global economic discussion and governance. Additionally, G20 summits of
heads of state A head of state (or chief of state) is the public persona who officially embodies a state Foakes, pp. 110–11 " he head of statebeing an embodiment of the State itself or representatitve of its international persona." in its unity and leg ...
or
government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, Executive (government), ex ...
were held. After the 2008 debut summit in Washington, DC, G20 leaders met twice a year: in London and
Pittsburgh Pittsburgh ( ) is a city in the Commonwealth A commonwealth is a traditional English term for a political community founded for the common good In philosophy Philosophy (from , ) is the study of general and fundamental questions, ...

Pittsburgh
in 2009, and in
Toronto Toronto is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a recorded population of 2,731,571 in 2016, it is the List of the 100 largest municipalities in Canada by population, most populous cit ...

Toronto
and
Seoul Seoul (, like ''soul''; ko, 서울 ; ), officially the Seoul Special City, is the Capital city, capital and largest metropolis of South Korea.Before 1972, Seoul was the "de jure" capital of the North Korea, Democratic People's Republic of Ko ...

Seoul
in 2010. Since 2011, when France chaired and hosted the G20, the summits have been held only once a year. The 2016 summit was held in
Hangzhou Hangzhou (, , Standard Mandarin Standard Chinese, in linguistics known as Standard Northern Mandarin, Standard Beijing Mandarin or simply Mandarin, is a Mandarin Chinese#Subgrouping, dialect of Mandarin that emerged as the lingua franc ...

Hangzhou
, China, the 2017 summit was held in
Hamburg en, Hamburgian(s) , timezone1 = Central European Time, Central (CET) , utc_offset1 = +1 , timezone1_DST = Central European Summer Time, Central (CEST) , utc_offset1_DST ...

Hamburg
, Germany, and the 2018 summit was held in
Buenos Aires Buenos Aires ( or ; ), officially the Autonomous City of Buenos Aires ( es, link=no, Ciudad Autónoma de Buenos Aires), is the Capital city, capital and largest city of Argentina. The city is located on the western shore of the Río de la Plata ...

Buenos Aires
, Argentina. A number of other ministerial-level G20 meetings have been held since 2010. Agriculture ministerial meetings were conducted in 2011 and 2012; meetings of foreign ministers were held in 2012 and 2013; trade ministers met in 2012 and 2014, and employment ministerial meetings have taken place annually since 2010. In 2012, the G20 Ministers of Tourism and Heads of Delegation of G20 member countries and other invited States, as well as representatives from th
World Travel and Tourism Council
(WTTC), World Tourism Organization (UNWTO) and other organisations in the Travel & Tourism sector met in Mérida, Mexico, on May 16 at th

and focused on 'Tourism as a means to Job Creation'. As a result of this meeting and The World Travel & Tourism Council's Visa Impact Research, later on the Leaders of the G20, convened in Los Cabos on 18–19 June, would recognise the impact of Travel & Tourism for the first time. That year, th

added the following statement: "We recognise the role of travel and tourism as a vehicle for job creation, economic growth and development, and, while recognizing the sovereign right of States to control the entry of foreign nationals, we will work towards developing travel facilitation initiatives in support of job creation, quality work, poverty reduction and global growth." In March 2014, the former Australian foreign minister
Julie Bishop Julie Isabel Bishop (born 17 July 1956) is a former Australian politician who served as Minister for Foreign Affairs (Australia), Minister for Foreign Affairs from 2013 to 2018 and Liberal Party of Australia#List of deputy leaders, deputy leader ...
, when Australia was hosting the 2014 G20 summit in
Brisbane Brisbane ( ), sited on the Meanjin () land of the Turrbal Country, is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most p ...
, proposed to ban
Russia Russia ( rus, link=no, Россия, Rossiya, ), or the Russian Federation, is a country spanning Eastern Europe and Northern Asia. It is the List of countries and dependencies by area, largest country in the world, covering over , and encom ...

Russia
from the summit over its role in the
2014 Crimean crisis The Crimean Peninsula, north of the Black Sea in Eastern Europe, was annexed by the Russian Federation Russia (russian: link=no, Россия, , ), or the Russian Federation, is a country spanning Eastern Europe and Northern Asia. ...
. The
BRICS BRICS is the acronym coined to associate five major Emerging market, emerging economies: Brazil, Russia, India, China, and South Africa. The BRICS members are known for their significant influence on regional affairs. Since 2009, the governments ...

BRICS
foreign ministers subsequently reminded Bishop that "the custodianship of the G20 belongs to all Member States equally and no one Member State can unilaterally determine its nature and character." In 2016, the G20 framed its commitment to the
2030 Agenda The Sustainable Development Goals (SDGs) or Global Goals are a collection of 17 interlinked global goals designed to be a "blueprint to achieve a better and more Sustainability, sustainable future for all".United Nations (2017) Resolution adopte ...

2030 Agenda
(Sustainable Development Goals) in three key themes; the promotion of strong sustainable and balanced growth; protection of the planet from degradation; and furthering co-operation with low-income and
developing countries 450px, Example of Older Classifications by the IMF and the United Nations, UN from 2008 A developing country is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries. However, ...
. At the G20 Summit in
Hangzhou Hangzhou (, , Standard Mandarin Standard Chinese, in linguistics known as Standard Northern Mandarin, Standard Beijing Mandarin or simply Mandarin, is a Mandarin Chinese#Subgrouping, dialect of Mandarin that emerged as the lingua franc ...

Hangzhou
, members agreed on an action plan and issued a high level principles document to member countries to help facilitate the agenda's implementation. Japan hosted the 2019 summit, The
2020 summit The Australia 2020 Summit was a Convention (meeting), convention, referred to in Australian media as a summit (meeting), summit, which was held on 18-19 April 2008 in Canberra, Australia, aiming to "help shape a long-term strategy for the nation's ...
was to be held in Saudi Arabia, but was instead held virtually on 21–22 November 2020 due to the
COVID-19 pandemic The COVID-19 pandemic is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified from an outbreak in the Chinese city of ...
under the presidency of Saudi Arabia. 2021 G20 Rome summit which was held in
Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption = The te ...

Rome
, the capital city of
Italy Italy ( it, Italia ), officially the Italian Republic ( it, Repubblica Italiana, links=no ), is a country consisting of a Northern Italy, continental part, delimited by the Alps, a Italian Peninsula, peninsula and List of islands of Italy, se ...

Italy
, on 30–31 October 2021.


List of summits


Chair rotation

To decide which member nation gets to chair the G20 leaders' meeting for a given year, all members, except the European Union, are assigned to one of five different groupings, with all but one group having four members, the other having three. Nations from the same region are placed in the same group, except Group 1 and Group 2. All countries within a group are eligible to take over the G20 Presidency when it is their group's turn. Therefore, the states within the relevant group need to negotiate among themselves to select the next G20 President. Each year, a different G20 member country assumes the presidency starting from 1 December until 30 November. This system has been in place since 2010, when South Korea, which is in Group 5, held the G20 chair. The table below lists the nations' groupings: To ensure continuity, the presidency is supported by a "
troika Troika or troyka (from Russian тройка, meaning 'a set of three') may refer to: Cultural tradition * Troika (driving), a traditional Russian harness driving combination, a cultural icon of Russia * Troika (dance), a Russian folk dance Polit ...
" made up of the current, immediate past and next host countries.


Organization

The G20 operates without a permanent secretariat or staff. The group's chair rotates annually among the members and is selected from a different regional grouping of countries. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The 2019 chair was Japan, which hosted the 2019 summit in
Osaka is a Cities designated by government ordinance of Japan, designated city in the Kansai region of Honshu in Japan. It is the capital and the most populous city in Osaka Prefecture, and the List of cities in Japan, third most populous city in Ja ...

Osaka
."G20 website"
G20 website. Retrieved 19 December 2017
The current chair is held by Italy. The 2021 summit is planned to be held in Italy. The 2022, 2023 and 2024 summits will be hosted by Indonesia, India and Brazil respectively.


Proposed permanent secretariat

In 2010,
President of France The president of France, officially the President of the French Republic (french: Président de la République française), is the head of state of France, as well as the Chief of the Armed Forces (France), commander-in-chief of the French Arme ...
Nicolas Sarkozy Nicolas Paul Stéphane Sarközy de Nagy-Bocsa (; ; born 28 January 1955) is a retired French politician who served as President of France and ''ex officio'' Co-Princes of Andorra, Co-Prince of Andorra from 16 May 2007 until 15 May 2012. Born ...

Nicolas Sarkozy
proposed the establishment of a permanent G20 secretariat, similar to the
United Nations The United Nations (UN) is an intergovernmental organization that aims to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for har ...

United Nations
.
Seoul Seoul (, like ''soul''; ko, 서울 ; ), officially the Seoul Special City, is the Capital city, capital and largest metropolis of South Korea.Before 1972, Seoul was the "de jure" capital of the North Korea, Democratic People's Republic of Ko ...

Seoul
and
Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, most populous city of France, with an estimated population of 2,175,601 residents as of 2018, in an area of more than . Since the 17th century, ...

Paris
were suggested as possible locations for its
headquarters Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States The United States of America (USA), commonly known as the United St ...

headquarters
."Who Would Host a G20 Secretariat?"
''Chosun Ilbo''. 15 November 2010. Retrieved 14 March 2013.
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, ...

Brazil
and
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the List of countries and dependencies by population, world's most populous country, with a population of around 1.4 billion. Covering approximately 9.6& ...
supported the establishment of a secretariat, while
Italy Italy ( it, Italia ), officially the Italian Republic ( it, Repubblica Italiana, links=no ), is a country consisting of a Northern Italy, continental part, delimited by the Alps, a Italian Peninsula, peninsula and List of islands of Italy, se ...

Italy
and
Japan , image_flag = Flag of Japan.svg , alt_flag = Centered deep red circle on a white rectangle , image_coat = Imperial Seal of Japan.svg , alt_coat = Golden circle subdiv ...

Japan
expressed opposition to the proposal.
South Korea South Korea (Korean language, Korean: /, Revised Romanization of Korean, RR: ''Hanguk''; literally /, Revised Romanization of Korean, RR: ''Namhan'', or /, McCune–Reischauer, MR: ''Namchosŏn'' in North Korean usage), officially the R ...

South Korea
proposed a "cyber secretariat" as an alternative. It has been argued that the G20 has been using the
OECD The Organisation for Economic Co-operation and Development (OECD; french: Organisation de Coopération et de Développement Économiques, OCDE) is an intergovernmental economic organisation with 38 member countries, founded in 1961 to sti ...

OECD
as a secretariat.


Members

there are 20 members of the group:
Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country located mostly in the southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered b ...

Argentina
,
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smal ...

Australia
,
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, ...

Brazil
,
Canada Canada is a country in the northern part of North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean, Atlantic to the Pacific Ocean, Pacific and northward into the Arctic Ocea ...

Canada
,
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the List of countries and dependencies by population, world's most populous country, with a population of around 1.4 billion. Covering approximately 9.6& ...
, the
European Union The European Union (EU) is a political and economic union of Member state of the European Union, member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million ...

European Union
,
France France (), officially the French Republic (french: link=no, République française), is a country primarily located in Western Europe, consisting of metropolitan France and Overseas France, several overseas regions and territories. The metro ...

France
,
Germany ) , image_map = , map_caption = , map_width = 250px , capital = Berlin , coordinates = , largest_city = capital , languages_type = Official language , languages = German language, German , demonym = Germans, German , government_ ...

Germany
,
India India (Hindi: ), officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by population, second-most populous country, the List of countries and dependencies by area, seventh-largest ...

India
,
Indonesia Indonesia ( ), officially the Republic of Indonesia ( id, Republik Indonesia, links=yes ), is a country in Southeast Asia and Oceania between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. It consists of more than List of islands ...

Indonesia
,
Italy Italy ( it, Italia ), officially the Italian Republic ( it, Repubblica Italiana, links=no ), is a country consisting of a Northern Italy, continental part, delimited by the Alps, a Italian Peninsula, peninsula and List of islands of Italy, se ...

Italy
,
Japan , image_flag = Flag of Japan.svg , alt_flag = Centered deep red circle on a white rectangle , image_coat = Imperial Seal of Japan.svg , alt_coat = Golden circle subdiv ...

Japan
,
Mexico Mexico ( es, México ; Nahuan languages: ), officially the United Mexican States (; EUM ), is a List of sovereign states, country in the southern portion of North America. It is borders of Mexico, bordered to the north by the United States; ...

Mexico
,
Russia Russia ( rus, link=no, Россия, Rossiya, ), or the Russian Federation, is a country spanning Eastern Europe and Northern Asia. It is the List of countries and dependencies by area, largest country in the world, covering over , and encom ...

Russia
,
Saudi Arabia (''Shahada The ''Shahada'' ( ar, ٱلشَّهَادَةُ ' , "the testimony"), also spelled Shahadah, is an Islamic oath, one of the Five Pillars of Islam and part of the Adhan. It reads: "I bear witness that none deserves worship e ...

Saudi Arabia
,
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. With over Demographics of South Africa, 59 million people, it is the world's List of countries by population, 23rd-most populous nation a ...

South Africa
,
South Korea South Korea (Korean language, Korean: /, Revised Romanization of Korean, RR: ''Hanguk''; literally /, Revised Romanization of Korean, RR: ''Namhan'', or /, McCune–Reischauer, MR: ''Namchosŏn'' in North Korean usage), officially the R ...

South Korea
,
Turkey Turkey ( tr, Türkiye ), officially the Republic of Turkey, is a country located mainly on Anatolia in Western Asia, with a small portion on the Balkans in Southeast Europe. It shares borders with Greece and Bulgaria to the northwest; the B ...

Turkey
, the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Britain as a synonym for the United Kingdom. Some prefer to use Britain as shortha ...

United Kingdom
, and the
United States The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal di ...

United States
.
Spain , * gl, Reino de España, * oc, Reiaume d'Espanha, , , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_ ...

Spain
, the
United Nations The United Nations (UN) is an intergovernmental organization that aims to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for har ...

United Nations
, the
World Bank The World Bank is an international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its ow ...
, the
African Union The African Union (AU) is a continental union A continental union is a regional organization which facilitates pan-continental integration. Continental unions vary from collaborative intergovernmental organization, intergovernmental organizat ...

African Union
, and other organizations are permanent guest invitees. Representatives include, at the leaders' summits, the leaders of nineteen countries and of the European Union, and, at the ministerial-level meetings, the finance ministers and central bank governors of nineteen countries and of the European Union. In addition, each year, the G20's guests include
Spain , * gl, Reino de España, * oc, Reiaume d'Espanha, , , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_ ...

Spain
; the Chair of
ASEAN ASEAN; ( , ) officially the Association of Southeast Asian Nations, is an economic union comprising 10 member states in Southeast Asia Southeast Asia or Southeastern Asia is the United Nations geoscheme for Asia#South-eastern Asia, southe ...

ASEAN
; two African countries (the chair of the
African Union The African Union (AU) is a continental union A continental union is a regional organization which facilitates pan-continental integration. Continental unions vary from collaborative intergovernmental organization, intergovernmental organizat ...

African Union
and a representative of the
New Partnership for Africa's Development The New Partnership for Africa's Development (NEPAD) is an economic development In the economic study of the public sector, economic and social development is the process by which the economic well-being Well-being, also known as ''welln ...
(NEPAD) and a country (sometimes more than one) invited by the presidency, usually from its own region. The first of the tables below lists the member entities and their leaders, finance ministers and
central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a State (polity), state or formal monetary union, and oversees their commercial bank, commercial banking system. In contras ...
governors. The second table lists relevant statistics such as population and GDP figures for each member, as well as detailing memberships of other international organizations, such as the G7,
BRICS BRICS is the acronym coined to associate five major Emerging market, emerging economies: Brazil, Russia, India, China, and South Africa. The BRICS members are known for their significant influence on regional affairs. Since 2009, the governments ...

BRICS
and
MIKTA MIKTA is an informal middle power In international relations, a middle power is a sovereign state A sovereign state is a political entity that is represented by one centralized government that has sovereignty over a geographic area. Interna ...

MIKTA
. Total GDP figures are given in millions of US dollars.


Leaders


Leaders

File: Alberto Fernández 2020.jpg,
Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country located mostly in the southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered b ...

Argentina

Alberto Fernández,
President of Argentina, President File:Scott Morrison 2019.jpg,
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smal ...

Australia

Scott Morrison,
Prime Minister of Australia, Prime Minister File:Pronunciamento do Presidente da República, Jair Bolsonaro (cropped).jpg,
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, ...

Brazil

Jair Bolsonaro,
President of Brazil, President File:Trudeau visit White House for USMCA (cropped).jpg,
Canada Canada is a country in the northern part of North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean, Atlantic to the Pacific Ocean, Pacific and northward into the Arctic Ocea ...

Canada

Justin Trudeau,
Prime Minister of Canada, Prime Minister File:Xi Jinping 2019.jpg,
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the List of countries and dependencies by population, world's most populous country, with a population of around 1.4 billion. Covering approximately 9.6& ...

Xi Jinping,
President of the People's Republic of China, President File:Emmanuel Macron (cropped).jpg,
France France (), officially the French Republic (french: link=no, République française), is a country primarily located in Western Europe, consisting of metropolitan France and Overseas France, several overseas regions and territories. The metro ...

France

Emmanuel Macron,
President of France, President File:Olaf Scholz 2021 cropped.jpg,
Germany ) , image_map = , map_caption = , map_width = 250px , capital = Berlin , coordinates = , largest_city = capital , languages_type = Official language , languages = German language, German , demonym = Germans, German , government_ ...

Germany

Olaf Scholz,
Chancellor of Germany (Federal Republic of Germany), Chancellor File:PM Modi Portrait(cropped).jpg,
India India (Hindi: ), officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by population, second-most populous country, the List of countries and dependencies by area, seventh-largest ...

India

Narendra Modi,
Prime Minister of India, Prime Minister File:Joko Widodo 2019 official portrait.jpg,
Indonesia Indonesia ( ), officially the Republic of Indonesia ( id, Republik Indonesia, links=yes ), is a country in Southeast Asia and Oceania between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. It consists of more than List of islands ...

Indonesia

Joko Widodo,
President of Indonesia, President File:Mario Draghi 2021 cropped.jpg,
Italy Italy ( it, Italia ), officially the Italian Republic ( it, Repubblica Italiana, links=no ), is a country consisting of a Northern Italy, continental part, delimited by the Alps, a Italian Peninsula, peninsula and List of islands of Italy, se ...

Italy

Mario Draghi,
Prime Minister of Italy, Prime Minister File:Fumio Kishida 20211004.jpg,
Japan , image_flag = Flag of Japan.svg , alt_flag = Centered deep red circle on a white rectangle , image_coat = Imperial Seal of Japan.svg , alt_coat = Golden circle subdiv ...

Japan

Fumio Kishida,
Prime Minister of Japan, Prime Minister File:Moon Jae-in presidential portrait.jpg,
South Korea South Korea (Korean language, Korean: /, Revised Romanization of Korean, RR: ''Hanguk''; literally /, Revised Romanization of Korean, RR: ''Namhan'', or /, McCune–Reischauer, MR: ''Namchosŏn'' in North Korean usage), officially the R ...

South Korea

Moon Jae-in,
President of South Korea, President File:Presidente Electo Andrés Manuel López Obrador (croppeda).jpg,
Mexico Mexico ( es, México ; Nahuan languages: ), officially the United Mexican States (; EUM ), is a List of sovereign states, country in the southern portion of North America. It is borders of Mexico, bordered to the north by the United States; ...

Mexico

Andrés Manuel López Obrador,
President of Mexico, President File:President Vladimir Putin.jpg,
Russia Russia ( rus, link=no, Россия, Rossiya, ), or the Russian Federation, is a country spanning Eastern Europe and Northern Asia. It is the List of countries and dependencies by area, largest country in the world, covering over , and encom ...

Russia

Vladimir Putin,
President of Russia, President File:Salman 2017.jpg,
Saudi Arabia (''Shahada The ''Shahada'' ( ar, ٱلشَّهَادَةُ ' , "the testimony"), also spelled Shahadah, is an Islamic oath, one of the Five Pillars of Islam and part of the Adhan. It reads: "I bear witness that none deserves worship e ...

Saudi Arabia

Salman bin Abdulaziz Al Saud,
King of Saudi Arabia, King File:2019 Reunião Informal do BRICS - 48142657142 (cropped).jpg,
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. With over Demographics of South Africa, 59 million people, it is the world's List of countries by population, 23rd-most populous nation a ...

South Africa

Cyril Ramaphosa,
President of South Africa, President File:Recep Tayyip Erdogan.PNG,
Turkey Turkey ( tr, Türkiye ), officially the Republic of Turkey, is a country located mainly on Anatolia in Western Asia, with a small portion on the Balkans in Southeast Europe. It shares borders with Greece and Bulgaria to the northwest; the B ...

Turkey

Recep Tayyip Erdoğan,
President of Turkey, President File:Boris Johnson official portrait (cropped).jpg,
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Britain as a synonym for the United Kingdom. Some prefer to use Britain as shortha ...

United Kingdom

Boris Johnson,
Prime Minister of the United Kingdom, Prime Minister File:Joe Biden presidential portrait (cropped).jpg,
United States The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal di ...

United States

Joe Biden,
President of the United States, President File:Charles Michel (49467991288).jpg,
European Union The European Union (EU) is a political and economic union of Member state of the European Union, member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million ...

European Union

Charles Michel,
President of the European Council, President of the
European Council File:Ursula von der Leyen (49468709252).jpg,
European Union The European Union (EU) is a political and economic union of Member state of the European Union, member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million ...

European Union

Ursula von der Leyen,
President of the European Commission, President of the
European Commission


Member country data

In addition to these 20 members, the chief executive officers of several other international forums and institutions participate in meetings of the G20. These include the International Monetary Fund#Managing Director, managing director and Chairman of the
International Monetary Fund The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. It claims to be "working to foster global monetary cooperation, secure financial stability, facilit ...

International Monetary Fund
, the World Bank#Leadership, President of the
World Bank The World Bank is an international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its ow ...
, the International Monetary and Financial Committee and the Chairman of the Development Assistance Committee. The G20's membership does not reflect exactly the 20 largest economies of the world in any given year; as the organization states: As of 2021, all 19 member nations are among the List of countries by GDP (nominal), top 33 economies in terms of nominal GDP, according to the
International Monetary Fund The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. It claims to be "working to foster global monetary cooperation, secure financial stability, facilit ...

International Monetary Fund
(IMF). Among the major economies not represented are Iran (ranked 17th), Switzerland (20), Taiwan (22), Thailand (26), Nigeria (29), Israel (30), Norway (32) and Bangladesh (33) despite many ranking higher than some members. The Netherlands (18), Poland (23), Sweden (24), Belgium (25), Republic of Ireland, Ireland (27) and Austria (28) are included only as part of the EU, and not independently.
Spain , * gl, Reino de España, * oc, Reiaume d'Espanha, , , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_ ...

Spain
(14) has participated as a "permanent guest invitee" in every summit since the group's inception; as of 2010, the Spanish government's policy is to not request official membership. When measured by List of countries by GDP (PPP), purchasing power parity (PPP), all 19 members are among the world's top 32 economies, according to 2021 data by the IMF. Of these major economies, Taiwan (ranked 18th), Egypt (21), Thailand (22), Iran (23), Pakistan (24), Vietnam (25), Nigeria (26), the Philippines (29), Malaysia (30) and Bangladesh (31) are not G20 members, while Poland (20) and the Netherlands (27) are only included as EU members, and
Spain , * gl, Reino de España, * oc, Reiaume d'Espanha, , , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_ ...

Spain
(16) as a permanent guest invitee. However, in a list of average GDP, calculated for the years since the group's creation (1999–2008) at both Real versus nominal value (economics), nominal and Purchasing power parity, PPP rates, only Iran, the Netherlands, Nigeria, Poland,
Spain , * gl, Reino de España, * oc, Reiaume d'Espanha, , , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_ ...

Spain
, Taiwan and Thailand appear above any G20 member in both lists simultaneously.


Role of Asian countries

A 2011 report released by the Asian Development Bank (ADB) predicted that large Asian economies such as China and India would play a more important role in global economic governance in the future. The report claimed that the rise of emerging market economies heralded a new world order, in which the G20 would become the global economic steering committee. The ADB furthermore noted that Asian countries had led the global recovery following the late-2000s recession. It predicted that the region would have a greater presence on the global stage, shaping the G20's agenda for balanced and sustainable growth through strengthening intraregional trade and stimulating domestic demand.


Invitees

Typically, several participants that are not permanent members of the G20 are extended invitations to participate in the summits. Each year, the Chair of the Association of Southeast Asian Nations; the Chairperson of the African Union, Chair of the
African Union The African Union (AU) is a continental union A continental union is a regional organization which facilitates pan-continental integration. Continental unions vary from collaborative intergovernmental organization, intergovernmental organizat ...

African Union
; and a representative of the
New Partnership for Africa's Development The New Partnership for Africa's Development (NEPAD) is an economic development In the economic study of the public sector, economic and social development is the process by which the economic well-being Well-being, also known as ''welln ...
are invited in their capacities as leaders of their organisations and as heads of government of their home states."G20 and the world"
G20.org. 2015. Retrieved 16 April 2015.
Additionally, the leaders of the Financial Stability Board, the International Labour Organization, the
International Monetary Fund The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. It claims to be "working to foster global monetary cooperation, secure financial stability, facilit ...

International Monetary Fund
, the Organisation for Economic Co-operation and Development, the
United Nations The United Nations (UN) is an intergovernmental organization that aims to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for har ...

United Nations
, the World Bank Group and the
World Trade Organization The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international ...
are invited and participate in pre-summit planning within the policy purview of their respective organisation. Spain is a permanent non-member invitee. Other invitees are chosen by the host country, usually one or two countries from its own region. For example, South Korea invited Singapore. International organisations which have been invited in the past include the Asia-Pacific Economic Cooperation (APEC), the Basel Committee on Banking Supervision (BCBS), the Commonwealth of Independent States (CIS), the Eurasian Economic Community (EAEC), the
European Central Bank upright=1.2, Seat of the European Central Bank The European Central Bank (ECB) is the central bank of the Eurozone, a monetary union of 19 Member state of the European Union, EU member states which employ the euro. Established by the Treat ...

European Central Bank
(ECB), the Food and Agriculture Organization (FAO), the Global Governance Group (3G) and the Cooperation Council for the Arab States of the Gulf, Gulf Cooperation Council (GCC). Previously, the Netherlands had a similar status to Spain while the Presidency of the Council of the European Union, rotating presidency of the Council of the European Union would also receive an invitation, but only in that capacity and not as their own state's leader (such as the Czech premiers Mirek Topolánek and Jan Fischer (politician), Jan Fischer during the 2009 summits).


Permanent guest invitees


G20 Agenda


Financial focus

The initial G20 agenda, as conceived by US, Canadian and German policy makers, was very much focused on the sustainability of Government debt, sovereign debt and global financial stability, in an inclusive format that would bring in the largest Developing country, developing economies as equal partners. During a summit in November 2008, the leaders of the group pledged to contribute trillions to international finance organizations, including the World Bank and IMF, mainly for reestablishing the global financial system. Since inception, the recurring themes covered by G20 summit participants have related in priority to global economic growth,
international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. In most countries, such trade represents a significant share of gross dom ...
and financial market regulation.


Inclusive growth

The G20 countries account for almost 75% of the global carbon emissions. After the adoption of the Sustainable Development Goals, UN Sustainable Development Goals and the Paris Agreement, Paris Climate Agreement in 2015, more "global issue, issues of global significance" were added to the G20 agenda: migration, digitisation, employment, healthcare, the economic empowerment of women and development aid. Despite promises G20 nations subsidised fossil fuel companies over $3.3 trillion between 2015 and 2021.


Interrelated themes

Wolfgang Schäuble, German Federal Ministry of Finance (Germany), Federal Minister of Finance, has insisted on the interconnected nature of the issues facing G20 nations, be they purely financial or developmental, and the need to reach effective, cross-cutting cleavage, cross-cutting policy measures: "Globalization has lifted hundreds of millions out of poverty, but there is also a growing rise in frustration in some quarters […] development, [national] security and migration are all interlinked"


Criticisms


Exclusivity of membership

Although the G20 has stated that the group's "economic weight and broad membership gives it a high degree of legitimacy and influence over the management of the global economy and financial system", its legitimacy has been challenged. A 2011 report for the Danish Institute for International Studies criticised the G20's exclusivity, particularly highlighting its underrepresentation of African countries and its practice of inviting observers from non-member states as a mere "concession at the margins", which does not grant the organisation representational legitimacy. With respect to the membership issue, former US President Barack Obama noted the difficulty of pleasing everyone: "Everybody wants the smallest possible group that includes them. So, if they're the 21st largest nation in the world, they want the G21, and think it's highly unfair if they have been cut out." Others stated in 2011 that the exclusivity is not an insurmountable problem, and proposed mechanisms by which it could become more inclusive.


Norwegian perspective

In line with Norway's emphasis on inclusive international processes, the United Nations and the UN-system, in a 2010 interview with ''Der Spiegel'', former Norwegian foreign minister Jonas Gahr Støre called the G20 "one of the greatest setbacks since World War II" as 173 nations who are all members of the UN are not among the G20. This includes Norway, a major developed economy and the seventh-largest contributor to UN international development programs, which is not a member of the EU, and thus is not represented in the G20 even indirectly. Norway, like other such nations, has little or no voice within the group. Støre argued that the G20 undermines the legitimacy of international organizations set up in the aftermath of World War II, such as the IMF, World Bank and United Nations: Norway, under the government of Erna Solberg, attended the 2017 G20 Hamburg summit, 2017 G20 summit in Hamburg, Germany.


Spanish position on membership

The Spanish government's policy is to not request official membership. Despite being hit hard by the economic crisis after 2008, Spain is still the world's List of countries by GDP (nominal), thirteenth largest economy by nominal GDP (the fourth in the European Union) and List of countries by GDP (PPP), fifteenth largest by purchasing power parity, clearly exceeding the numbers of several current members of the G20 such as Argentina or South Africa. In addition, since the 1990s several Spanish companies have gained multinational status, often expanding their activities in culturally close Latin America, where Spain is the second biggest foreign investor after the United States and keeps an important influence. These facts have reinforced the idea that Spain should seek permanent membership of the G20.


Polish aspirations

In contrast with the Spanish position, the Poland, Polish government has repeatedly asked to join the G20. Before the 2009 G20 London summit, the Polish government expressed an interest in joining with Spain and the Netherlands and condemned an "organisational mess" in which a few European leaders speak in the name of all the EU without legitimate authorisation in cases which belong to the
European Commission The European Commission (EC) is the executive branch The executive is the branch of government exercising authority in and holding Moral responsibility, responsibility for the governance of a State (polity), state. The executive executes an ...

European Commission
. During a 2010 meeting with foreign diplomats, Polish president Lech Kaczyński said: In 2012, Tim Ferguson wrote in ''Forbes'' that swapping Argentina for Poland should be considered, claiming that the Polish economy was headed toward a leadership role in Europe and its membership would be more legitimate. A similar opinion was expressed by Marcin Sobczyk in the ''Wall Street Journal''. Mamta Murthi from the
World Bank The World Bank is an international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its ow ...
said: "To be in 'a club', what Poland can do is to behave as if it already is in the club it wants to join." In 2014, consulting company Ernst & Young published its report about optimal members for G20. After analyzing trade, institutional and investment links Poland was included as one of the optimal members. G20 membership has been part of Poland's Law and Justice party and President Andrzej Duda political program. In March 2017, Deputy Prime Minister of Poland Mateusz Morawiecki took part in a meeting of G20 financial ministers in Baden-Baden as the first Polish representative.


Global Governance Group (3G) response

In June 2010, Singapore's representative to the United Nations warned the G20 that its decisions would affect "all countries, big and small", and asserted that prominent non-G20 members should be included in financial reform discussions. Singapore thereafter took a leading role in organizing the Global Governance Group (3G), an informal grouping of 30 non-G20 countries (including several microstates and many Third World countries) with the aim of collectively channelling their views into the G20 process more effectively. Singapore's chairing of the 3G was cited as a rationale for inviting Singapore to the November 2010 G20 summit in South Korea, as well as the 2011, 2013, 2014, 2015, 2016, and 2017 summits.


''Foreign Policy'' critiques

The American magazine ''Foreign Policy'' has published articles condemning the G20, in terms of its principal function as an alternative to the supposedly exclusive G8. It questions the actions of some of the G20 members, and advances the notion that some nations should not have membership in the first place. Furthermore, with the effects of the Late-2000s financial crisis, Great Recession still ongoing, the magazine has criticized the G20's efforts to implement reforms of the world's financial institutions, branding such efforts as failures.


Wider concerns

The G20's prominent membership gives it a strong input on global policy despite lacking any formal ability to enforce rules. There are disputes over the legitimacy of the G20, and criticisms of its organisation and the efficacy of its declarations. The G20's transparency and accountability have been questioned by critics, who call attention to the absence of a formal charter and the fact that the most important G20 meetings are closed-door. In 2001, the economist Frances Stewart (economist), Frances Stewart proposed an Economic Security Council within the United Nations as an alternative to the G20. In such a council, members would be elected by the United Nations General Assembly, General Assembly based on their importance to the world economy, and the contribution they are willing to provide to world economic development. The cost and extent of summit-related security is often a contentious issue in the hosting country, and G20 summits have attracted protesters from a variety of backgrounds, including information activists, opponents of fractional-reserve banking and Anti-capitalism, anti-capitalists. In 2010, the Toronto G20 summit sparked 2010 G20 Toronto summit protests, mass protests and rioting, leading to the largest mass arrest in Canada's history.


Fossil fuel subsidies

The G20 countries account for almost 75% of the global carbon emissions and promised in 2009 to phase out 'inefficient subsidies'. Despite these promises G20 nations have subsidised fossil fuel companies over $3.3 trillion between 2015 and 2021, with several nations increasing subsidies; Australia (+48.2%), US (+36.7%), Indonesia (+26.6%), France (+23.8%), China (+4.1%), Brazil (+3.0%), Mexico (+2.6%). China alone generates over half of the coal-generated electricity in the world.


See also

*Model G20 *Group of Eight (G8) *Group of Seven (G7)


Notes


References


Bibliography

* * * * * *


Further reading

* * * * * *


External links

*
G20 website of the OECD

G20 Information Centre
from the University of Toronto
A Guide To Committees, Groups, And Clubs
from the
International Monetary Fund The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. It claims to be "working to foster global monetary cooperation, secure financial stability, facilit ...

International Monetary Fund

G20 Special Report
from ''The Guardian'' *
The G20's role in the post-crisis world by FRIDE

The Group of Twenty – A History
2007
Economics for Everyone: G20 – Gearing for Growth
{{DEFAULTSORT:G-20 G20, Economic country classifications Intergovernmental organizations International economic organizations Organizations established in 1999