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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 Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Republic of Korea, the Russian Federation, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union, (plus Spain
Spain
as a permanent guest member). Founded in 1999, the G20
G20
aims to discuss policy pertaining to the promotion of international financial stability.[3] It seeks to address issues that go beyond the responsibilities of any one organization.[3] 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. 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,[2] and approximately half of the world land area. With the G20
G20
growing in stature[4] 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.[5] Since its inception, the G20's membership policies have been criticized by numerous intellectuals,[6][7] and its summits have been a focus for major protests by left-wing groups and anarchists.[8] 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.[2]

Contents

1 Names in other languages 2 History

2.1 Founding 2.2 Early topics

3 Summits

3.1 List of summits 3.2 Chair rotation

4 Organization

4.1 Proposed permanent secretariat

5 List of members

5.1 Leaders 5.2 Member country data 5.3 Role of Asian countries

6 Invitees

6.1 Permanent guest invitees

7 G20
G20
Agenda

7.1 Financial focus 7.2 Inclusive growth 7.3 Interrelated themes

8 Criticisms

8.1 Exclusivity of membership

8.1.1 Norwegian perspective 8.1.2 Spanish position on membership 8.1.3 Polish aspirations 8.1.4 Global Governance Group (3G) response 8.1.5 Foreign Policy critiques

8.2 Wider concerns

9 See also 10 Notes 11 References

11.1 Footnotes 11.2 Bibliography

12 Further reading 13 External links

Names in other languages[edit]

Afrikaans: Groep van Twintig, Groep van 20 Arabic: مجموعة العشرين،, مجموعة من 20; Majmueat al-eshryn, majmueat min 20 Bulgarian: Група от двадесет, група от 20, Grupa ot dvadeset, grupa ot 20 Simplified Chinese: 二十国集团,20国集团; Èrshí guó jítuán, 20 guó jítuán Croatian: Grupa dvadeset, grupa od 20 Czech: Skupina dvacet, skupina 20 Danish: Gruppe af 20, Gruppe på 20 Dutch: Groep van Twintig, Groep van 20 English: Group of Twenty, Group of 20 Estonian: Kahekümne rühm, 20. rühm Finnish: Ryhmä 20, ryhmä 20 French: Groupe des Vingt, Groupe de 20 German: Gruppe der Zwanzig, Gruppe der 20 Greek: Ομάδα είκοσι, ομάδα 20, Omáda eíkosi, omáda 20 Hindi: 20 का समूह; bees ka samooh Hungarian: Húsz csoport, 20-as csoport Indonesian: Kelompok Dua Puluh, Kelompok 20 Irish: Grúpa Fiche, Fiche 20 Italian: Gruppo dei Venti Japanese: G20, 主要20か国・地域; 'Syuyou nijikkakoku・Chiiki' Korean: 그룹 스물, 그룹 20; Geulub seumul, Geulub 20 Latvian: Divdesmit grupa, 20. grupa Lithuanian: Dvidešimt grupė, 20 grupė Luxembourgish: Grupp vun zwanzeg, Grupp vun 20 Maltese: Grupp ta 'Għoxrin, Grupp ta' 20 Polish: Grupa Dwadzieścia, grupa 20 Portuguese: Grupo de Vinte, Grupo de 20 Romanian: Grup de Douăzeci, un grup de 20 Russian: Группа двадцати, Группа 20, Gruppa dvadtsati, Gruppa 20 Slovak: Skupina dvadsiatich, skupina 20 Slovenian: Skupina Dvajset, skupina 20 Spanish: Grupo de Veinte, Grupo de los 20 Swedish: Grupp av Tjugo, Grupp av 20 Turkish: Yirmi Grup, 20 Grup

History[edit] Founding[edit] 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, and what is now the World Trade Organization.[9] 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.[10] 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.[11] However, Bradford later described then-Finance Minister of Canada
Canada
(and future Prime Minister of 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."[12] Canadian academic and journalistic sources have also identified the G20
G20
a project initiated by Martin and then-US Treasury Secretary Larry Summers,[13][14][15][16] as has Dawn Nakagawa of the Berggruen Institute.[17] All acknowledge, however, that Germany
Germany
and the United States
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 with the Mexican peso crisis and followed by the 1997 Asian financial crisis, the 1998 Russian financial crisis, 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.[13][14][15] 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.[13][15] The G20
G20
membership was decided by Eichel's deputy Caio Koch-Weser
Caio Koch-Weser
and Summers' deputy Timothy Geithner. According to the political economist Robert Wade:

Geithner and Koch-Weser went down the list of countries saying, 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.[18]

Early topics[edit] 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[edit] 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.[19] Since 2011, when France
France
chaired and hosted the G20, the summits have been held only once a year.[20] The 2016 summit was held in China,[21] and 2017 summit was held in Hamburg, Germany. 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.[22] In March 2014, the Australian foreign minister Julie Bishop, as host of the 2014 G20
G20
summit in Brisbane, proposed to ban Russia
Russia
from the summit over its role in the 2014 Crimean crisis.[23] 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."[24] In July 2017, Germany
Germany
hosted the 2017 Summit. The 2018 Summit will be in Argentina,[25] 2019 in Japan,[26] and 2020 in Saudi Arabia.[27] List of summits[edit] Main article: List of G20
G20
summits Chair rotation[edit] 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:[28]

Group 1 Group 2 Group 3 Group 4 Group 5

 Australia  Canada  Saudi Arabia  United States

 India  Russia  South Africa  Turkey

 Argentina  Brazil  Mexico

 France  Germany  Italy  United Kingdom

 China  Indonesia  Japan  South Korea

Organization[edit] 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 Argentina, which took over the chair on 1 December 2017[29]. The 2017 chair was Germany, which hosted the 2017 Summit in Hamburg. The 2019 chair will be Japan, which will host the 2019 G20
G20
Osaka summit. Proposed permanent secretariat[edit] 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.[30] Brazil
Brazil
and China
China
supported the establishment of a secretariat, while Italy
Italy
and Japan
Japan
expressed opposition to the proposal.[30] South Korea
South Korea
proposed a "cyber secretariat" as an alternative.[30] It has been argued that the G20
G20
has been using the OECD
OECD
as a secretariat.[31] List of members[edit] 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; the Chair of 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.[2][32][33] 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. Total GDP figures are given in millions of US dollars.

Leaders[edit]

Member Leader
Leader
position State leader Finance portfolio Portfolio minister Central bank
Central bank
governor

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

 Australia Prime Minister Malcolm Turnbull Treasurer Scott Morrison Philip Lowe

 Brazil President Michel Temer Minister of Finance Henrique Meirelles Ilan Goldfajn

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

 China President[note 1] Xi Jinping[note 1] Minister of Finance Liu Kun Yi Gang

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

 Germany Chancellor Angela Merkel Minister of Finance Peter Altmaier Jens Weidmann

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

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

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

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

 Mexico President Enrique Peña Nieto Secretary of Finance José Antonio González Anaya Alejandro Díaz de León

 Russia President Vladimir Putin Minister of Finance Anton Siluanov Elvira Nabiullina

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

 South Africa President Cyril Ramaphosa Minister of Finance Nhlanhla Nene Lesetja Kganyago

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

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

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

 United States President Donald Trump Secretary of the Treasury Steven Mnuchin Jerome Powell

 European Union[34] 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 Jean-Claude Juncker

Member country data[edit]

Member Trade mil. USD (2014)[citation needed] Nom. GDP mil. USD (2016)[35][36] PPP GDP mil. USD (2016)[35][36] Nom. GDP per capita USD (2016)[35][36] PPP GDP per capita USD (2016)[35][36] HDI (2015) Population (2016)[35][36] Area km2 P5 G4 G7 BRICS MIKTA DAC OECD C'wth N11 OPEC IMF
IMF
economy classification[37][38]

 Argentina 142,370 545,124 874,072 12,503 20,047 0.827 43,600,000 2,780,400 N N N N N N N N N N Emerging/Developing

 Australia 496,700 1,258,978 1,187,321 51,850 48,899 0.939 24,281,000 7,692,024 N N N N Y Y Y Y N N Advanced

 Brazil 484,600 1,798,622 3,141,335 8,727 15,242 0.754 206,101,000 8,515,767 N Y N Y N N N N N N Emerging/Developing

 Canada 947,200 1,529,224 1,682,364 42,210 46,437 0.920 36,229,000 9,984,670 N N Y N N Y Y Y N N Advanced

 China 4,201,000 11,218,281 21,291,766 8,113 15,399 0.738 1,382,710,000 9,572,900 Y N N Y N N N N N N Emerging/Developing

 France 1,212,300 2,463,222 2,733,678 38,128 42,314 0.897 64,605,000 640,679 Y N Y N N Y Y N N N Advanced

 Germany 2,866,600 3,466,639 3,980,282 41,902 48,111 0.926 82,732,000 357,114 N Y Y N N Y Y N N N Advanced

 India 850,600 2,256,397 10,662,350 1,723 7,716 0.624 1,346,346,000 3,287,263 N Y N Y N N N Y N N Emerging/Developing

 Indonesia 346,100 932,448 3,032,092 3,604 11,720 0.689 258,705,000 1,904,569 N N N N Y N N N Y N Emerging/Developing

 Italy 948,600 1,850,735 2,234,500 30,507 36,833 0.887 60,666,000 301,336 N N Y N N Y Y N N N Advanced

 Japan 1,522,400 4,938,644 5,237,790 38,917 41,275 0.903 126,901,000 377,930 N Y Y N N Y Y N N N Advanced

 Mexico 813,500 1,046,002 2,315,654 8,555 18,938 0.762 122,273,000 1,964,375 N N N N Y N Y N Y N Emerging/Developing

 Russia 844,200 1,522,000 4,152,000 10,630 28,918 0.804 146,877,088 17,098,242 Y N N Y N N N N N N Emerging/Developing

 Saudi Arabia 521,600 639,617 1,750,864 20,150 55,158 0.847 31,743,000 2,149,690 N N N N N N N N N Y Emerging/Developing

 South Africa 200,100 294,132 739,420 5,261 13,225 0.666 55,909,000 1,221,037 N N N Y N N N Y N N Emerging/Developing

 South Korea 1,170,900 1,411,246 1,934,033 27,539 37,740 0.901 51,246,000 100,210 N N N N Y Y Y N Y N Advanced

 Turkey 417,000 857,429 1,988,331 10,743 24,912 0.767 79,815,000 783,562 N N N N Y N Y N Y N Emerging/Developing

 United Kingdom 1,189,400 2,629,188 2,785,563 40,096 42,481 0.909 65,572,000 242,495 Y N Y N N Y Y Y N N Advanced

 United States 3,944,000 18,569,100 18,569,100 57,436 57,436 0.920 323,298,000 9,526,468 Y N Y N N Y Y N N N Advanced

 European Union 4,485,000 16,408,363 20,008,130 32,244 39,317 0.876 508,888,000 4,422,773 N N Y N N Y 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.[2] These include the managing director and Chairman of the International
International
Monetary Fund, the President of the World Bank, the International
International
Monetary and Financial Committee and the Chairman of the 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:[1]

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.[39] 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,[40] 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 (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 (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, the Netherlands, Nigeria, Poland, Taiwan, Iran
Iran
and Thailand
Thailand
appear above any G20
G20
member in both lists simultaneously. 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.[41][42] 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[edit] 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.[43] 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.[43] Invitees[edit]

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; the Chair of the 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.[44] Additionally, the leaders of the Financial Stability Board, the International
International
Labour Organization, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the 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.[45] Spain is a permanent non-member invitee.[44] Other invitees are chosen by the host country, usually one or two countries from its own region.[44] 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, Benin, Brunei, Cambodia, Chad, Chile, Colombia, Egypt, Equatorial Guinea, Ethiopia, Guinea, Kazakhstan, Laos, Malawi, Malaysia, Mauritania, Myanmar, the Netherlands, New Zealand, Nigeria, Norway, the Philippines, Poland, Senegal, Singapore, Spain, Switzerland, Thailand, the United Arab Emirates, Vietnam, and Zimbabwe.[44] Permanent guest invitees[edit]

Invitee Officeholder State Official title

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

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

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

Lê Lương Minh  Vietnam Secretary-General

Financial Stability Board
Financial Stability Board
(FSB) Mark Carney

Chairperson

International
International
Labour Organization (ILO) Guy Ryder

Director General

International
International
Monetary Fund (IMF) Christine Lagarde

Managing Director

- Mariano Rajoy  Spain Prime Minister

New Partnership for Africa's Development
New Partnership for Africa's Development
(NEPAD) Macky Sall  Africa 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

Secretary-General

World Bank
World Bank
Group (WBG) Jim Yong Kim

President

World Trade Organization
World Trade Organization
(WTO) Roberto Azevêdo

Director General

G20
G20
Agenda[edit] Financial focus[edit] 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 trillions to international finance organizations, including the World Bank
World Bank
and IMF, mainly for reestablishing the global financial system.[46][47] 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.[48] Inclusive growth[edit] 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"[48][49] were added to the G20
G20
agenda: migration, digitisation, employment, healthcare, the economic empowerment of women and development aid.[50] Interrelated themes[edit] Wolfgang Schäuble, German Federal Minister of Finance, has insisted on the interconnected nature of the issues facing G20
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, [national] security and migration are all interlinked"[49] Criticisms[edit] Exclusivity of membership[edit] 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,"[51] 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.[52] 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."[53] Others stated in 2011 that the exclusivity is not an insurmountable problem, and proposed mechanisms by which it could become more inclusive.[54] Norwegian perspective[edit]

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

In a 2010 interview with 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."[6] Although Norway
Norway
is a major developed economy and the seventh-largest contributor to UN international development programs,[55] it is not a member of the EU, and thus is not represented in the G20
G20
even indirectly.[6] 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.[6]

Norway, under the government of Erna Solberg, attended the 2017 G20 Summit in Hamburg, Germany.[56] Spanish position on membership[edit] 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[edit] Contrary to Spain, the Polish government has repeatedly asked to join the G20. Before the 2009 G20
G20
London summit, the Polish government expressed an interest in joining with Spain
Spain
and the Netherlands
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. 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.[57]

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.[58] Similar opinions have been later expressed by American magazine Foreign Policy, Wall Street Journal
Wall Street Journal
and by Mamta Murthi from the World Bank.[59][60][61] In 2014 consulting company Ernst & Young published its report about optimal members for G20. After analyzing trade, institutional and investment links Poland
Poland
was included as one of the optimal members.[62] G20
G20
membership has been part of Poland's Law and Justice
Law and Justice
party and President Andrzej Duda
Andrzej Duda
political program.[63] In March 2017, Deputy Prime Minister of Poland
Poland
Mateusz Morawiecki
Mateusz Morawiecki
took part in a meeting of G20
G20
financial ministers in Baden-Baden
Baden-Baden
as the first Polish representative.[64][65] As of 2017, Poland's GDP is 483 billion dollars (less than Argentina's 620 billion dollars, more than South Africa's 326 billion dollars). Global Governance Group (3G) response[edit] In June 2010, Singapore's representative to the United Nations
United Nations
warned the G20
G20
that its decisions would affect "all countries, big and small", and asserted that prominent non- G20
G20
members should be included in financial reform discussions.[66] Singapore
Singapore
thereafter took a leading role in organizing the Global Governance Group (3G), an informal grouping of 30 non- G20
G20
countries (including several microstates and many Third World
Third World
countries) with the aim of collectively channelling their views into the G20
G20
process more effectively.[67][68][69] Singapore's chairing of the 3G was cited as a rationale for inviting Singapore
Singapore
to the November 2010 G20
G20
summit in South Korea, as well as the 2011, 2013, 2014, 2015, 2016 and the recently concluded 2017 summits.[70] Foreign Policy critiques[edit] 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 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 failed.[71] Wider concerns[edit] 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,[72] and criticisms of its organisation and the efficacy of its declarations.[73] 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
G20
meetings are closed-door.[74] In 2001, the economist Frances Stewart proposed an Economic Security Council within the United Nations
United Nations
as an alternative to the G20. In such a council, members would be elected by the General Assembly based on their importance to the world economy, and the contribution they are willing to provide to world economic development.[75] The cost and extent of summit-related security is often a contentious issue in the hosting country, and G20
G20
summits have attracted protesters from a variety of backgrounds, including information activists, opponents of fractional-reserve banking and anti-capitalists. In 2010, the Toronto
Toronto
G20
G20
summit sparked mass protests and rioting, leading to the largest mass arrest in Canada's history. See also[edit]

International
International
relations portal

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

Notes[edit]

^ a b The de jure head of government of China
China
is the Premier, whose current holder is 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.

References[edit] Footnotes[edit]

^ a b "FAQ #5: What are the criteria for G-20 membership?". G20.org. Retrieved 21 February 2013. ^ a b c d e " G20
G20
Members". G20.org. Archived from the original on 3 February 2014. Retrieved 15 January 2014.  ^ a b " G20
G20
Finance Ministers Committed to Sustainable Development". IPS News. Retrieved 4 December 2015.  ^ "Global Politics". Andrew Heywood. Retrieved 4 December 2015.  ^ "Officials: G-20 to supplant G-8 as international economic council". CNN. 25 September 2009. Retrieved 25 September 2009.  ^ a b c d " Norway
Norway
Takes Aim at G-20:'One of the Greatest Setbacks Since World War II'". Der Spiegel. 22 June 2010. Retrieved 27 June 2010.  ^ Bosco, David (19 April 2012). "Who would replace Argentina
Argentina
on the G20?". Foreign Policy. Retrieved 24 April 2012.  ^ Mahoney, Jill; Ann Hui (29 June 2010). "G20-related mass arrests unique in Canadian history". The Globe and Mail. Toronto. Retrieved 21 July 2010.  ^ See, e.g., Woods 2006; Gilpin 2001; Markwell 2006. ^ "What is the G20?". University of Toronto. 2010. Retrieved 12 November 2014.  ^ Colin I. Bradford; Johannes F. Linn (2004). "Global Economics". Brookings Institution. Retrieved 12 November 2014.  ^ Bradford, Colin I. (23 June 2010). "Web Chat: Previewing the G-20 Summit". Brookings Institution. Retrieved 7 July 2017.  ^ a b c Kirton, John (17 December 2013). "Explaining G20
G20
Summit Success". G20
G20
Information Centre. Munk School of Global Affairs, University of Toronto. Retrieved 7 July 2017.  ^ a b "Who gets to rule the world". Sean Kilpatrick. Macleans Magazine (Canada). 1 July 2010 ^ a b c Ibbitson, John; Perkins, Tara (18 June 2010). "How Canada
Canada
made the G20
G20
happen". The Globe and Mail. Retrieved 7 July 2017.  ^ Thomas Axworthy. "Eight is not enough at summit." Toronto
Toronto
Star. 8 June 2007. Retrieved 16 April 2011. ^ Nakagawa, Dawn (1 September 2016). "Interview with Paul Martin: Co-Founder of the G20". Berggruen [Insights]. Berggruen Institute. Retrieved 7 July 2017.  ^ Wade 2009, p. 553. ^ "US to host next G20
G20
world meeting". BBC News. 28 May 2009. Retrieved 9 December 2012. ^ "Leaders' statement, the Pittsburgh
Pittsburgh
Summit," p. 19 §50 (PDF) Archived 12 June 2010 at the Wayback Machine.. G20.org. 25 September 2009. ^ "G20". Bond.org.uk. Retrieved 16 June 2013.  ^ " G20
G20
Ministerial Meetings". G20
G20
Research Group. Retrieved 13 September 2014.  ^ "Canberra considers barring Vladimir Putin
Vladimir Putin
from G20
G20
in Brisbane
Brisbane
over Crimea crisis". The Australian. 20 March 2014. Retrieved 7 October 2015. ^ "Chairperson's Statement on the BRICS
BRICS
Foreign Ministers Meeting held on 24 March 2014 in The Hague, Netherlands". dfa.gov.za. Retrieved 7 October 2015.  ^ http://www.clarin.com/politica/Argentina-elegida-sede-G-20_0_1603039808.html ^ " Japan
Japan
to host G-20 summit in 2019 for 1st time". The Nikkei. 9 July 2017.  ^ " Saudi Arabia
Saudi Arabia
to host G20
G20
summit in 2020". The National. 8 July 2017.  ^ Carin, Barry (4 November 2010). "The Future of the G20
G20
Process". Centre for International
International
Governance Innovation. Archived from the original on 15 April 2012. Retrieved 19 October 2011.  ^ " G20
G20
website" G20
G20
website. Retrieved 19 December 2017 ^ a b c "Who Would Host a G20
G20
Secretariat?" Chosun Ilbo. 15 November 2010. Retrieved 14 March 2013. ^ Wouters & Van Kerckhoven 2011. ^ "Archived copy". Archived from the original on 11 February 2014. Retrieved 12 April 2014.  ^ "What is the G-20". G20.org. Archived from the original on 20 November 2013. Retrieved 27 June 2010.  ^ "Van Rompuy and Barroso to both represent EU at G20". EUobserver.com. 19 March 2010. Retrieved 21 October 2012. "The permanent president of the EU Council, former Belgian premier Herman Van Rompuy, also represents the bloc abroad in foreign policy and security matters...in other areas, such as climate change, President Barroso will speak on behalf of the 27-member club." ^ a b c d e "World Economic Outlook Database: GDP, GDP per capita, GDP PPP, GDP PPP per capita, Population for G20
G20
countries (sans EU)". International
International
Monetary Fund. April 2017. Retrieved 10 October 2017.  (2016 GDP and GDP PPP numbers for Germany
Germany
are IMF
IMF
staff estimates.) ^ a b c d e "World Economic Outlook Database: GDP, GDP PPP, Population for EU countries". International
International
Monetary Fund. April 2017. Retrieved 10 October 2017.  (2016 GDP and GDP PPP numbers for Belgium, Croatia, the Czech Republic, Denmark, Germany, Luxembourg, Slovakia, Slovenia, and Sweden
Sweden
are IMF
IMF
staff estimates.) ^ "World Economic Outlook Database: WEO Groups and Aggregates Information". International
International
Monetary Fund. April 2017. Retrieved 10 October 2017.  ^ "World Economic Outlook: Frequently Asked Questions. Q. How does the WEO categorize advanced versus emerging market and developing economies?". International
International
Monetary Fund. 29 July 2017. Retrieved 10 October 2017.  ^ "Gross domestic product, current prices". IMF
IMF
World Economic Outlook. April 2015. Retrieved 19 April 2015.  ^ "Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP". IMF
IMF
World Economic Outlook. April 2015. Retrieved 19 April 2015.  ^ The G20
G20
monitor systemic seven countries to try to rebalance the world economy. Economics Newspaper. 26 June 2011. Retrieved 3 December 2011. ^ España será invitado permanente en el G-20. Elpais.com (in Spanish). Retrieved 3 December 2011. ^ a b "Asia to play bigger role on world stage, G20: ADB report". The People's Daily. 26 April 2011. Retrieved 26 April 2011.  ^ a b c d " G20
G20
and the world". G20.org. 2015. Retrieved 16 April 2015. ^ " International
International
Organisations". G-20 Australia. 2014. Retrieved 22 December 2014.  ^ Ibbitson, John (18 June 2016). "How Canada
Canada
Made the G20
G20
Happen". theglobeandmail.com. Toronto. Retrieved 18 July 2017.  ^ "The End of the G-20". Foreign Affairs. September 2016.  – via  Foreign Affairs
Foreign Affairs
(subscription required) ^ a b The Federal Government, of Germany
Germany
(1 December 2016). "The G20 Presidency 2017 at a Glance". G20.org. Berlin. Retrieved 6 July 2017.  ^ a b Firzli, M. Nicolas J. (7 July 2017). " G20
G20
Nations Shifting the Trillions: Impact Investing, Green Infrastructure and Inclusive Growth" (PDF). Revue Analyse Financière. Paris. Retrieved 7 July 2017.  ^ Abschlusserklärung steht – Dissens bleibt. tagesschau.de. 8 July 2017, retrieved 12 July 2017. ^ "About G-20" Archived 20 November 2013 at the Wayback Machine.. G20.org. Retrieved 11 December 2012. ^ Vestergaard, Jakob (April 2011). "The G20
G20
and Beyond: Towards Effective Global Economic Governance" (PDF). DIIS Report. Retrieved 25 June 2013.  ^ Kelly Chernenkoff. "Obama to Usher In New World Order at G-20". Fox News. 25 September 2009. Retrieved 11 December 2012. ^ Cooper 2011. ^ " Norway
Norway
and the UN". Norway.org. 12 May 2012. Retrieved 12 May 2012.  ^ "Solberg eager to speak up at G20". NEWS in ENGLISH.no. 7 July 2017. Retrieved 7 July 2017.  ^ "Polska w G-20 - warto się bić?".  ^ Ferguson, Tim. "G20: Boot Argentina, Include Poland".  ^ "Who would replace Argentina
Argentina
on the G20?".  ^ Sobczyk, Marcin (3 February 2010). " G20
G20
Needs Poland".  ^ Polska, Grupa Wirtualna. "money.pl - portal finansowy - wiadomości, notowania, kursy, wskaźniki, giełdy, fundusze, emerytury, podatki". www.money.pl.  ^ "Polska w grupie G20: jeśli tam nie będziemy, inni będą decydować za nas". polskieradio.pl.  ^ "Wyborcza.pl". wyborcza.pl.  ^ "Rzeczy, które musisz wiedzieć o szczycie G20
G20
Ze świata". TVN24 BiS (in Polish). Retrieved 31 March 2017.  ^ "Morawiecki wśród ministrów finansów G20
G20
- Gospodarka - rp.pl". Retrieved 31 March 2017.  ^ "STATEMENT BY AMBASSADOR VANU GOPALA MENON, PERMANENT REPRESENTATIVE OF SINGAPORE TO THE UNITED NATIONS". Singapore
Singapore
UN Mission. 8 June 2010. Retrieved 16 November 2013.  ^ "Press Statement by the Global Governance Group (3G) on its Ninth Ministerial Meeting in New York on 22 September 2016". mfa. 22 September 2016. Retrieved 23 July 2017.  ^ "SIIA welcomes new 3G initiative for small states". Singapore Institute of International
International
Affairs. 12 February 2010. Retrieved 16 November 2013. ^ "Statement by Singapore
Singapore
on behalf of the Global Governance Group" (PDF). United Nations. 2 June 2010. Retrieved 12 February 2013. ^ " Singapore
Singapore
among five non- G20
G20
nations to attend Seoul
Seoul
Summit". International
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Business Times. 25 September 2010. Retrieved 12 February 2013. ^ Truman, Edwin M. (12 April 2012). "The G-20 Is Failing". Foreign Policy. Retrieved 24 April 2012.  ^ D+C 2011/01 – Berensmann/Fues/Volz – The G20: an informal power broker with growing developmental relevance – Development and Cooperation – International
International
Journal. Inwent.org. Retrieved 3 December 2012. ^ d+c-focus-sachin– Indian scholar says global leaders should focus on food security and access to essential pharmaceuticals. International
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ought to be increased to 6 Billion". OpenDemocracy.net. 31 March 2009. Retrieved 26 April 2013. ^ Stewart, Frances and Daws, Sam. "An Economic and Social Security Council at the United Nations" (PDF). Oxford University. March 2001. Retrieved 8 January 2013.

Bibliography[edit]

Cooper, Andrew F. (2011). "The G20
G20
and Its Regional Critics: The Search for Inclusion". Global Policy. doi:10.1111/j.1758-5899.2011.00081.x. ISSN 1758-5899.  Firzli, Nicolas J. (2017). " G20
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 Relations: Economic Paths to War and Peace. Oxford University
Oxford University
Press. doi:10.1093/acprof:oso/9780198292364.001.0001. ISBN 978-0-19-829236-4.  Wade, Robert (2009). "From Global Imbalances to Global Reorganisations". Cambridge Journal of Economics. 33 (4): 539–562. doi:10.1093/cje/bep032 . ISSN 1464-3545.  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 10.7591/j.ctt1ffjpgn.  Wouters, Jan; Van Kerckhoven, Sven (2011). " OECD
OECD
and the G20: An Ever Closer Relationship" (PDF). George Washington International
International
Law Review. 43 (2): 345–374. ISSN 1534-9977. 

Further reading[edit]

Haas, Peter M. (1992). "Introduction: Epistemic Communities and International
International
Policy Coordination" (PDF). International
International
Organization. 46 (1): 1–35. doi:10.1017/S0020818300001442. ISSN 1531-5088. JSTOR 2706951.  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. 

External links[edit]

Wikimedia Commons has media related to G-20 major economies.

Official website G20
G20
website of the OECD G20
G20
Information Centre from the University of Toronto A Guide To Committees, Groups, And Clubs from the International Monetary Fund G20
G20
Special
Special
Report from The Guardian " G20
G20
Special
Special
Report". Inter Press Service.  The G20's role in the post-crisis world by FRIDE The Group of Twenty—A History, 2007 Economics for Everyone: G20
G20
– Gearing for Growth

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