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The G20
G20
(or G-20 or GROUP OF TWENTY) is an international forum for the governments and central bank governors from 20 major economies. Currently, these are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, and the European Union. Founded in 1999, the G20
G20
aims to discuss policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. The G20
G20
heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and foreign ministers due to the expansion of its agenda in recent years.

Membership of the G20
G20
consists of 19 individual countries plus the European Union
European Union
(EU). The EU is represented by the European Commission and by the European Central Bank
European Central Bank
. Collectively, the G20
G20
economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population , and approximately half of the world land area .

With the G20
G20
growing in stature after its inaugural leaders\' summit in 2008 , its leaders announced on 25 September 2009 that the group would replace the G8 as the main economic council of wealthy nations. Since its inception, the G20's membership policies have been criticized by numerous intellectuals, and its summits have been a focus for major protests by left-wing groups and anarchists .

The heads of the G20
G20
nations met semi-annually at G20
G20
summits between 2009 and 2010. Since the November 2011 Cannes summit , all G20
G20
summits have been held annually.

CONTENTS

* 1 History

* 1.1 Founding * 1.2 Early topics

* 2 Summits

* 2.1 List of summits * 2.2 Chair rotation

* 3 Organisation

* 3.1 Proposed permanent secretariat

* 4 List of members

* 4.1 Leaders * 4.2 Member country data * 4.3 Role of Asian countries

* 5 Invitees

* 5.1 Permanent guest invitees

* 6 G20
G20
Agenda

* 6.1 Financial focus * 6.2 Inclusive growth * 6.3 Interrelated themes

* 7 Criticisms

* 7.1 Exclusivity of membership

* 7.1.1 Norwegian perspective * 7.1.2 Spanish position on membership * 7.1.3 Polish aspirations * 7.1.4 Global Governance Group (3G) response * 7.1.5 Foreign Policy
Foreign Policy
critiques

* 7.2 Wider concerns

* 8 See also * 9 Notes

* 10 References

* 10.1 Footnotes * 10.2 Bibliography

* 11 Further reading * 12 External links

HISTORY

FOUNDING

The G20
G20
is the latest in a series of post– World War II
World War II
initiatives aimed at international coordination of economic policy, which include institutions such as the "Bretton Woods twins", the International Monetary Fund and the World Bank
World Bank
, and what is now the World Trade Organization .

The G20
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 Martin
was chosen as the first chairman and German finance minister Hans Eichel
Hans Eichel
hosted the inaugural meeting.

A 2004 report by Colin I. Bradford and Johannes F. Linn of the Brookings Institution
Brookings Institution
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
Canada
(and future Prime Minister of Canada
Canada
) Paul Martin
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
G20
a project initiated by Martin and then-US Treasury Secretary Larry Summers , as has Dawn Nakagawa of the Berggruen Institute . All acknowledge, however, that Germany
Germany
and the United States played a key role in bringing their vision into reality.

Martin and Summers conceived of the G20
G20
in response to the series of massive debt crises that had spread across emerging markets in the late 1990s, beginning in Mexico
Mexico
and followed by the 1997 Asian financial crisis , an economic collapse in Russia, and eventually impacting the United States, most prominently in the form of the collapse of the prominent hedge fund Long-Term Capital Management in the autumn of 1998. It illustrated to them that in a rapidly globalizing world, the G7, G8, and the Bretton Woods system
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
G20
membership was decided by Eichel's deputy Caio Koch-Weser and Summers' deputy Timothy Geithner
Timothy Geithner
. According to the political economist Robert Wade :

Geithner and Koch-Weser went down the list of countries saying, Canada
Canada
in, Portugal out, South Africa
South Africa
in, Nigeria
Nigeria
and Egypt
Egypt
out, and so on; they sent their list to the other G7 finance ministries; and the invitations to the first meeting went out.

EARLY TOPICS

The G20's primary focus has been governance of the global economy . 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
World Bank
and IMF, and the impact of demographic changes due to an aging world population.

In 2007, South Africa
South Africa
hosted the secretariat with Trevor A. Manuel , South African Minister of Finance
Minister of Finance
as chairperson of the G20.

In 2008, Guido Mantega , Brazil's Minister of Finance, was the G20 chairperson and proposed dialogue on competition in financial markets, clean energy , economic development and fiscal elements of growth and development.

On 11 October 2008 after a meeting of G7 finance ministers, US President George W. Bush
George W. Bush
stated that the next meeting of the G20
G20
would be important in finding solutions to the burgeoning economic crisis of 2008 .

SUMMITS

The G20
G20
Summit of the G20
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 2007–2010 and to a growing recognition that key emerging countries were not adequately included in the core of global economic discussion and governance. Additionally, the G20
G20
Summits of heads of state or government were held.

After the 2008 debut summit in Washington, DC, G20
G20
leaders met twice a year: in London and Pittsburgh
Pittsburgh
in 2009, and in Toronto
Toronto
and Seoul
Seoul
in 2010.

Since 2011, when France
France
chaired and hosted the G20, the summits have been held only once a year. The 2016 summit was held in China
China
, and 2017 summit was held in Hamburg
Hamburg
, Germany
Germany
. G20
G20
Summit Information wave statistics

A number of other ministerial-level G20
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 March 2014, the Australian foreign minister Julie Bishop
Julie Bishop
, as host of the 2014 G20
G20
summit in Brisbane
Brisbane
, proposed to ban Russia
Russia
from the summit over its role in the 2014 Crimean crisis
2014 Crimean crisis
. The BRICS
BRICS
foreign ministers subsequently reminded Bishop that "the custodianship of the G20
G20
belongs to all Member States equally and no one Member State can unilaterally determine its nature and character."

In July 2017, Germany
Germany
hosted the 2017 Summit . The 2018 Summit will be in Argentina, 2019 in Japan, and 2020 in Saudi Arabia.

LIST OF SUMMITS

Main article: List of G20 summits

CHAIR ROTATION

To decide which member nation gets to chair the G20
G20
leaders' meeting for a given year, all 19 sovereign nations are assigned to one of five different groupings. Each group holds a maximum of four nations. This system has been in place since 2010, when South Korea, which is in Group 5, held the G20
G20
chair. The table below lists the nations' groupings:

GROUP 1 GROUP 2 GROUP 3 GROUP 4 GROUP 5

* Australia
Australia
* Canada
Canada
* Saudi Arabia
Saudi Arabia
* United States
United States

* India
India
* Russia
Russia
* South Africa
South Africa
* Turkey
Turkey

* Argentina
Argentina
* Brazil
Brazil
* Mexico
Mexico

* France
France
* Germany
Germany
* Italy
Italy
* United Kingdom
United Kingdom

* China
China
* Indonesia
Indonesia
* Japan
Japan
* South Korea
South Korea

ORGANISATION

The G20
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 chair is part of a revolving three-member management group of past, present and future chairs, referred to as the "Troika ". The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The role of the Troika is to ensure continuity in the G20's work and management across host years. The current chair of the G20
G20
is Germany, which is hosting the 2017 Summit in Hamburg
Hamburg
.

PROPOSED PERMANENT SECRETARIAT

In 2010, President of France
France
Nicolas Sarkozy
Nicolas Sarkozy
proposed the establishment of a permanent G20
G20
secretariat, similar to the United Nations . Seoul
Seoul
and Paris
Paris
were suggested as possible locations for its headquarters . Brazil
Brazil
and China
China
supported the establishment of a secretariat, while Italy
Italy
and Japan
Japan
expressed opposition to the proposal. South Korea
South Korea
proposed a "cyber secretariat" as an alternative. It has been argued that the G20
G20
has been using the OECD as a secretariat.

LIST OF MEMBERS

As of 2017 there are 20 members of the group. These include, at the leaders' summits, the leaders of 19 countries and of the European Union, and, at the ministerial-level meetings, the finance ministers and central bank governors of 19 countries and of the European Union.

In addition each year, the G20's guests include Spain
Spain
; the Chair of ASEAN
ASEAN
; two African countries (the chair of the African Union
African Union
and a representative of the New Partnership for Africa\'s Development ) 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 heads of government , finance ministers and central bank governors. The second table lists relevant statistics such as population and GDP figures for each member, as well as detailing memberships of other international organisations, such as the G7 , BRICS
BRICS
and MIKTA
MIKTA
. Total GDP figures are given in millions of US dollars.

LEADERS

MEMBER LEADER POSITION HEAD OF GOVERNMENT FINANCE PORTFOLIO PORTFOLIO MINISTER CENTRAL BANK GOVERNOR

Argentina
Argentina
President Mauricio Macri
Mauricio Macri
Minister of Public Finances Minister of the Treasury Luis Caputo Nicolás Dujovne Federico Sturzenegger

Australia
Australia
Prime Minister Malcolm Turnbull
Malcolm Turnbull
Treasurer Scott Morrison
Scott Morrison
Philip Lowe

Brazil
Brazil
President Michel Temer
Michel Temer
Minister of Finance
Minister of Finance
Henrique Meirelles
Henrique Meirelles
Ilan Goldfajn
Ilan Goldfajn

Canada
Canada
Prime Minister Justin Trudeau
Justin Trudeau
Minister of Finance
Minister of Finance
Bill Morneau
Bill Morneau
Stephen Poloz

China
China
President Xi Jinping
Xi Jinping
Minister of Finance
Minister of Finance
Xiao Jie Zhou Xiaochuan

France
France
President Emmanuel Macron
Emmanuel Macron
Minister of the Economy Bruno Le Maire
Bruno Le Maire
François Villeroy de Galhau

Germany
Germany
Chancellor Angela Merkel
Angela Merkel
Minister of Finance
Minister of Finance
Wolfgang Schäuble
Wolfgang Schäuble
Jens Weidmann
Jens Weidmann

India
India
Prime Minister Narendra Modi Minister of Finance
Minister of Finance
Arun Jaitley Urjit Patel
Urjit Patel

Indonesia
Indonesia
President Joko Widodo
Joko Widodo
Minister of Finance
Minister of Finance
Sri Mulyani Indrawati Agus Martowardojo

Italy
Italy
Prime Minister Paolo Gentiloni
Paolo Gentiloni
Minister of Economy and Finance Pier Carlo Padoan
Pier Carlo Padoan
Ignazio Visco

Japan
Japan
Prime Minister Shinzō Abe
Shinzō Abe
Minister of Finance
Minister of Finance
Tarō Asō
Tarō Asō
Haruhiko Kuroda
Haruhiko Kuroda

Mexico
Mexico
President Enrique Peña Nieto
Enrique Peña Nieto
Secretary of Finance José Meade Agustín Carstens
Agustín Carstens

Russia
Russia
President Vladimir Putin
Vladimir Putin
Minister of Finance
Minister of Finance
Anton Siluanov
Anton Siluanov
Elvira Nabiullina

Saudi Arabia
Saudi Arabia
King Salman Minister of Finance
Minister of Finance
Mohammed Al-Jadaan Ahmad Al-Khulaifi

South Africa
South Africa
President Jacob Zuma Minister of Finance
Minister of Finance
Malusi Gigaba Lesetja Kganyago

South Korea
South Korea
President Moon Jae-in
Moon Jae-in
Minister of Strategy and Finance Kim Dong-yeon Lee Ju-yeol

Turkey
Turkey
President Recep Tayyip Erdoğan
Recep Tayyip Erdoğan
Minister of Finance
Minister of Finance
Naci Ağbal Murat Çetinkaya

United Kingdom
United Kingdom
Prime Minister Theresa May
Theresa May
Chancellor of the Exchequer
Chancellor of the Exchequer
Philip Hammond
Philip Hammond
Mark Carney
Mark Carney

United States
United States
President Donald Trump
Donald Trump
Secretary of the Treasury Steven Mnuchin Janet Yellen
Janet Yellen

European Union
European Union
President of the European Council
President of the European Council
Donald Tusk Commissioner for Economic and Financial Affairs , Taxation and Customs Pierre Moscovici Mario Draghi

President of the European Commission
European Commission
Jean-Claude Juncker
Jean-Claude Juncker

MEMBER COUNTRY DATA

MEMBER TRADE MIL. USD (2014) NOM. GDP MIL. USD (2014) PPP GDP MIL. USD (2014) NOM. GDP PER CAPITA USD (2015) PPP GDP PER CAPITA USD (2015) HDI (2015) POPULATION (2014) AREA P5 G4 G7 BRICS
BRICS
MIKTA
MIKTA
DAC OECD
OECD
C\\'WTH N11 PA MERCOSUR SAARC
SAARC
ECONOMIC CLASSIFICATION ( IMF
IMF
)

Argentina
Argentina
142,370 594,975 924,481 13,589 22,554 0.827 42,961,000 2,780,400 N N N N N N N N N N Y N Emerging

Australia
Australia
496,700 1,343,608 1,246,480 50,962 47,389 0.939 23,599,000 7,692,024 N N N N Y Y Y Y N N N N Advanced

Brazil
Brazil
484,600 2,140,940 3,217,986 8,670 16,155 0.754 202,768,000 8,515,767 N Y N Y N N N N N N Y N Emerging

Canada
Canada
947,200 1,532,340 1,742,656 43,332 44,967 0.920 35,467,000 9,984,670 N N Y N N Y Y Y N N N N Advanced

China
China
4,201,000 12,361,737 23,066,642 7,990 14,107 0.738 1,367,520,000 9,572,900 Y N N Y N N N N N N N N Emerging

France
France
1,212,300 2,570,023 2,833,151 37,675 41,181 0.897 63,951,000 640,679 Y N Y N N Y Y N N N N N Advanced

Germany
Germany
2,866,600 3,618,621 4,122,402 40,997 46,893 0.926 80,940,000 357,114 N Y Y N N Y Y N N N N N Advanced

India
India
850,600 2,457,748 9,585,371 1,617 6,162 0.624 1,259,695,000 3,287,263 N Y N Y N N N Y N N N Y Emerging

Indonesia
Indonesia
346,100 1,014,867 3,256,727 3,362 11,126 0.689 251,490,000 1,904,569 N N N N Y N N N Y N N N Emerging

Italy
Italy
948,600 1,895,318 2,289,578 29,867 35,708 0.887 60,665,551 301,336 N N Y N N Y Y N N N N N Advanced

Japan
Japan
1,522,400 5,106,259 5,066,064 32,486 38,054 0.903 127,061,000 377,930 N Y Y N N Y Y N N N N N Advanced

South Korea
South Korea
1,170,900 1,521,000 2,029,861 27,195 36,511 0.901 50,437,000 100,210 N N N N Y Y Y N Y N N N Advanced

Mexico
Mexico
813,500 1,124,316 2,410,946 9,009 17,534 0.762 119,581,789 1,964,375 N N N N Y N Y N Y Y N N Emerging

Russia
Russia
844,200 1,442,406 3,866,332 9,055 23,744 0.804 146,300,000 17,098,242 Y N N Y N N N N N N N N Emerging

Saudi Arabia
Saudi Arabia
521,600 689,004 1,803,419 20,813 53,624 0.847 30,624,000 2,149,690 N N N N N N N N N N N N Emerging

South Africa
South Africa
200,100 288,199 758,123 5,695 13,165 0.666 53,699,000 1,221,037 N N N Y N N N Y N N N N Emerging

Turkey
Turkey
417,000 769,474 1,756,510 9,437 20,438 0.767 77,324,000 783,562 N N N N Y N Y N Y N N N Emerging

United Kingdom
United Kingdom
1,189,400 2,609,912 2,877,505 43,771 41,159 0.909 64,511,000 242,495 Y N Y N N Y Y Y N N N N Advanced

United States
United States
3,944,000 19,377,203 19,377,203 55,805 55,805 0.920 318,523,000 9,526,468 Y N Y N N Y Y N N N N N Advanced

European Union
European Union
4,485,000 16,970,024 20,745,303 31,918 37,852 0.876 505,570,700 4,422,773 N N Y N N Y N N N N N N N/A

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 managing director and Chairman of the International
International
Monetary Fund , the President of the World Bank
World Bank
, the International
International
Monetary and Financial Committee and the Chairman of the Development Assistance Committee
Development Assistance Committee
.

The G20's membership does not reflect exactly the 19 largest national economies of the world in any given year. The organization states:

In a forum such as the G20, 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 G20
G20
membership and the composition of the group has remained unchanged since it was established. In view of the objectives of the G20, it was considered important that countries and regions of systemic significance for the international financial system be included. Aspects such as geographical balance and population representation also played a major part.

All 19 member nations are among the top 33 economies as measured in GDP at nominal prices in a list published by the International Monetary Fund (IMF) for 2014. Not represented by membership in the G20
G20
are Switzerland
Switzerland
(ranked 20th by the IMF), Nigeria
Nigeria
(21), Taiwan (26), Norway
Norway
(27), the United Arab Emirates
United Arab Emirates
(29), Iran
Iran
(30), Colombia (31), and Thailand
Thailand
(32), even though they rank higher than some members. The Netherlands
Netherlands
(17), Sweden
Sweden
(22), Poland
Poland
(23), Belgium
Belgium
(25), and Austria
Austria
(28) are included only as part of the EU, and not independently. Spain
Spain
(14) is a permanent guest member.

When the countries' GDP is measured at purchasing power parity (PPP) rates , all 19 members are among the top 29 in the world for the year of 2014, according to the IMF. Iran
Iran
(18), Taiwan
Taiwan
(20), Nigeria
Nigeria
(21), Thailand
Thailand
(22), Egypt
Egypt
(25), Pakistan
Pakistan
(26), and Malaysia
Malaysia
(28) are not G20
G20
members, while Spain
Spain
(16), Poland
Poland
(23) and the Netherlands
Netherlands
(27) are only included by virtue of being EU members. However, in a list of average GDP, calculated for the years since the group's creation (1999–2008) at both nominal and PPP rates, only Spain
Spain
, the Netherlands
Netherlands
, Nigeria
Nigeria
, Poland
Poland
, Taiwan
Taiwan
, Iran
Iran
and Thailand
Thailand
appear above any G20
G20
member in both lists simultaneously.

Spain
Spain
, being the 14th largest economy in the world and 5th in the European Union
European Union
in terms of nominal GDP, has been a "permanent guest" of the organization, and the Spanish government's policy is to not request official membership. A Spanish delegation has been invited to, and has attended, every G20
G20
heads of state summit since the G20's inception.

ROLE OF ASIAN COUNTRIES

A 2011 report released by the Asian Development Bank
Asian Development Bank
(ADB) predicted that large Asian economies such as China
China
and India
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
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

G20
G20
members (blue) and invited states (pink) as of 2016

Typically, several participants that are not permanent members of the G20
G20
are extended invitations to participate in the summits. Each year, the Chair of the Association of Southeast Asian Nations
Association of Southeast Asian Nations
; the Chair of the African Union
African Union
; and a representative of the New Partnership for Africa\'s Development are invited in their capacities as leaders of their organisations and as heads of government of their home states. Additionally, the leaders of the Financial Stability Board
Financial Stability Board
, the International
International
Labour Organization , the International
International
Monetary Fund , the Organisation for Economic Co-operation and Development
Organisation for Economic Co-operation and Development
, the United Nations
United Nations
, the World Bank
World Bank
Group and the World Trade Organization are invited and participate in pre-summit planning within the policy purview of their respective organisation. Spain
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
South Korea
invited Singapore. International
International
organisations which have been invited in the past include the Asia-Pacific Economic Cooperation
Asia-Pacific Economic Cooperation
(APEC), the Basel Committee on Banking Supervision (BCBS), the Commonwealth of Independent States (CIS), the Eurasian Economic Community
Eurasian Economic Community
(EAEC), the European Central Bank
European Central Bank
(ECB), the Food and Agriculture Organization (FAO), the Global Governance Group (3G) and the Gulf Cooperation Council (GCC). Previously, the Netherlands
Netherlands
had a similar status to Spain
Spain
while the 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 during the 2009 summits).

As of 2017, leaders from the following nations have been invited to the G20
G20
summits: Azerbaijan
Azerbaijan
, Benin
Benin
, Brunei
Brunei
, Cambodia
Cambodia
, Chad
Chad
, Chile , Colombia
Colombia
, Egypt
Egypt
, Equatorial Guinea
Equatorial Guinea
, Ethiopia
Ethiopia
, Guinea
Guinea
, Kazakhstan
Kazakhstan
, Laos
Laos
, Malawi
Malawi
, Malaysia
Malaysia
, Mauritania
Mauritania
, Myanmar
Myanmar
, the Netherlands
Netherlands
, New Zealand
New Zealand
, Nigeria
Nigeria
, Norway
Norway
, the Philippines
Philippines
, Poland
Poland
, Senegal
Senegal
, Singapore
Singapore
, Spain
Spain
, Switzerland
Switzerland
, Thailand
Thailand
, the United Arab Emirates
United Arab Emirates
, Vietnam
Vietnam
, and Zimbabwe
Zimbabwe
.

PERMANENT GUEST INVITEES

INVITEE OFFICEHOLDER STATE OFFICIAL TITLE

African Union
African Union
(AU) Alpha Condé Guinea
Guinea
President (Chairperson )

Asia-Pacific Economic Cooperation
Asia-Pacific Economic Cooperation
(APEC) Nguyễn Xuân Phúc
Nguyễn Xuân Phúc
Vietnam
Vietnam
Prime Minister (2017 host)

Association of Southeast Asian Nations
Association of Southeast Asian Nations
(ASEAN) Rodrigo Duterte
Rodrigo Duterte
Philippines
Philippines
President (2017 Chair)

Lê Lương Minh Vietnam
Vietnam
Secretary-General

Financial Stability Board
Financial Stability Board
(FSB) Mark Carney
Mark Carney

Chairperson

International
International
Labour Organization (ILO) Guy Ryder
Guy Ryder

Director General

International
International
Monetary Fund (IMF) Christine Lagarde
Christine Lagarde

Managing Director

Spain
Spain
Mariano Rajoy
Mariano Rajoy
Spain
Spain
Prime Minister

New Partnership for Africa\'s Development (NEPAD) Macky Sall
Macky Sall
Senegal
Senegal
President (Chair)

Organisation for Economic Co-operation and Development
Organisation for Economic Co-operation and Development
(OECD) José Ángel Gurría

Secretary-General

United Nations
United Nations
(UN) António Guterres
António Guterres

Secretary-General

World Bank
World Bank
Group (WBG) Jim Yong Kim
Jim Yong Kim

President

World Trade Organization
World Trade Organization
(WTO) Roberto Azevêdo
Roberto Azevêdo

Director General

G20
G20
AGENDA

FINANCIAL FOCUS

The initial G20
G20
agenda, as conceived by US, Canadian and German policy makers, was very much focused on the sustainability of sovereign debt and global financial stability, in an inclusive format that would bring in the largest developing economies as equal partners. During a summit in November 2008, the leaders of the group pledged to contribute $1.1 trillion to international finance organisations, including the World Bank
World Bank
and IMF, mainly for restabilising the global financial system.

Since inception, the recurring themes covered by G20
G20
summit participants have related in priority to global economic growth , international trade and financial market regulation.

INCLUSIVE GROWTH

After the adoption of the UN Sustainable Development Goals
Sustainable Development Goals
and the Paris
Paris
Climate Agreement in 2015, more "issues of global significance " were added to the G20
G20
agenda: migration, digitisation , employment, healthcare, the economic empowerment of women and development aid .

INTERRELATED THEMES

Wolfgang Schäuble
Wolfgang Schäuble
, German Federal Minister of Finance
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 policy measures: "Globalization has lifted hundreds of millions out of poverty, but there is also a growing rise in frustration in some quarters development, security and migration are all interlinked"

CRITICISMS

EXCLUSIVITY OF MEMBERSHIP

Although the G20
G20
has stated that the group "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
International
Studies , criticised the G20's exclusivity, highlighting in particular its under-representation of the African continent and the G20's 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, U.S. 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

Then–Norwegian foreign minister Jonas Gahr Støre characterized the G20
G20
in 2010 as a new " Congress of Vienna
Congress of Vienna
".

In a 2010 interview with Der Spiegel
Der Spiegel
, the Norwegian foreign minister Jonas Gahr Støre
Jonas Gahr Støre
called the G20
G20
"one of the greatest setbacks since World War II." Although Norway
Norway
is a major developed economy and the seventh-largest contributor to UN international development programs, it is not a member of the EU, and thus is not represented in the G20 even indirectly. Norway, like the other 173 nations not among the G-20, has little or no voice within the group. Støre characterized the G20
G20
as a "self-appointed group", arguing that it undermines the legitimacy of international organizations set up in the aftermath of World War II, such as the IMF, World Bank
World Bank
and United Nations:

The G20
G20
is a self-appointed group. Its composition is determined by the major countries and powers. It may be more representative than the G7 or the G8, in which only the richest countries are represented, but it is still arbitrary. We no longer live in the 19th century, a time when the major powers met and redrew the map of the world. No one needs a new Congress of Vienna
Congress of Vienna
.

Norway, under the government of Erna Solberg
Erna Solberg
, attended the 2017 G20 Summit in Hamburg, Germany
Germany
.

Spanish Position On Membership

As previously stated, the Spanish government's policy is to not request official membership. Despite being hit hard by the economic crisis after 2008, Spain
Spain
is still the world's fourteenth largest economy by nominal GDP (the 5th in the European Union) and sixteenth largest by purchasing power parity , clearly exceeding the numbers of several current members of the G20
G20
such as Argentina
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
Spain
is the second biggest foreign investor after the United States
United States
and keeps an important influence. These facts have reinforced the idea that Spain
Spain
should seek permanent membership of the G20. On the other hand, Spain, which is a European country, is not a representation of Latin America, therefore some observers think another country from South America should be included as well as Argentina.

Polish Aspirations

Contrary to Spain, the Polish government has repeatedly asked to join the G20. During a 2010 meeting with foreign diplomats, former Polish president Lech Kaczyński
Lech Kaczyński
said:

Polish economy is according to our data an 18th world economy. The place of my country is among the members of the G20. This is a very simple postulate: firstly – it results from the size of Polish economy , secondly – it results from the fact that Poland
Poland
is the biggest country in its region and the biggest country that has experienced a certain story. That story is a political and economic transformation.

(Note: as of 2016/2017 , the Polish economy is not in the top 20 nominally or by PPP criteria.)

Before the 2009 G20 London summit
2009 G20 London summit
, the Polish government expressed an interest in joining with Spain
Spain
and the Netherlands
Netherlands
and condemned a "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
European Commission
.

In 2012 Forbes
Forbes
wrote that swapping Argentina
Argentina
for Poland
Poland
should be considered, claiming that the Polish economy was headed toward a leadership role in Europe and its membership would be more legitimate. Similar opinions have been later expressed by American magazine Foreign Policy
Foreign Policy
, Wall Street Journal
Wall Street Journal
and by Mamta Murthi from the World Bank
World Bank
. In 2014 consulting company Ernst border:solid #aaa 1px">

* International
International
relations portal

* Big Four (Western Europe)
Big Four (Western Europe)
* Pacific Alliance
Pacific Alliance
* Emerging power * Group of Ten (economics) * Group of Eight or G8 * Group of Seven
Group of Seven
or G7 * BRICS
BRICS
* MIKTA
MIKTA
* Great power
Great power
* Middle power
Middle power
* Regional power
Regional power
* Global governance * List of countries by GDP (nominal)
List of countries by GDP (nominal)
* List of countries by GDP (PPP)
List of countries by GDP (PPP)
* List of country groupings * List of multilateral free-trade agreements

NOTES

* ^ A B The de jure head of government of China
China
is the Premier , whose current holder is Li Keqiang
Li Keqiang
. The President of China
China
is legally a ceremonial office , but the General Secretary of the Communist Party of China
China
(de facto leader) has always held this office since 1993 except for the months of transition , and the current paramount leader is President Xi Jinping
Xi Jinping
.

REFERENCES

FOOTNOTES

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BIBLIOGRAPHY

Cooper, Andrew F. (2011). "The G20
G20
and Its Regional Critics: The Search for Inclusion". Global Policy. ISSN 1758-5899 . doi :10.1111/j.1758-5899.2011.00081.x . Firzli, Nicolas J. (2017). "G20 Nations Shifting the Trillions: Impact Investing, Green Infrastructure and Inclusive Growth" (PDF). Revue Analyse Financière. 64 (3): 15–18. Gilpin, Robert (2001). Global Political Economy: Understanding the International
International
Economic Order. Princeton, New Jersey: Princeton University Press. ISBN 978-0-691-08676-7 . Markwell, Donald (2006). John Maynard Keynes and International
International
Relations: Economic Paths to War and Peace. Oxford University
Oxford University
Press. ISBN 978-0-19-829236-4 . doi :10.1093/acprof:oso/9780198292364.001.0001 . Wade, Robert (2009). "From Global Imbalances to Global Reorganisations". Cambridge Journal of Economics. 33 (4): 539–562. ISSN 1464-3545 . doi :10.1093/cje/bep032  . Woods, Ngaire (2006). The Globalizers: The IMF, the World Bank, and Their Borrowers. Cornell Studies in Money. Ithaca, New York: Cornell University Press. ISBN 978-0-8014-4424-1 . JSTOR
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10.7591/j.ctt1ffjpgn . Wouters, Jan ; Van Kerckhoven, Sven (2011). " OECD
OECD
and the G20: An Ever Closer Relationship" (PDF). George Washington International
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Law Review. 43 (2): 345–374. ISSN 1534-9977 .

FURTHER READING

Haas, Peter M. (1992). "Introduction: Epistemic Communities and International
International
Policy Coordination" (PDF). International
International
Organization. 46 (1): 1–35. ISSN 1531-5088 . JSTOR
JSTOR
2706951 . doi :10.1017/S0020818300001442 . Hajnal, Peter I. (2007). "The G8 System and the G20: Evolution, Role and Documentation". Global Finance Series. Aldershot, England: Ashgate Publishing. ISBN 978-0-7546-4550-4 . Kirton, John J. (2013). G20
G20
Governance for a Globalized World. Global Finance Series. Abingdon, England: Routledge. ISBN 978-1-4094-2829-9 . Reinalda, Bob; Verbeek, Bertjan, eds. (1998). Autonomous Policy Making by International
International
Organizations. Routledge/ECPR Studies in European Political Science. 5. London: Routledge. ISBN 978-0-415-16486-3 . Samans, Richard; Uzan, Marc; Lopez-Claros, Augusto, eds. (2007). The International
International
Monetary System, the IMF
IMF
and the G-20: A Great Transformation in the Making?. Basingstoke, England: Palgrave Macmillan. ISBN 978-0-230-52495-8 .

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