Members of G20 | Work of G20
G20 is a kind of a alliance of 20 countries on important global issues, climate and development of developing and under developed nations. G20 includes Australia
- Canada
- Saudi Arabia
- United States
- India
- Russia
- South Africa
- Turkey
- Argentina
- Brazil
- Mexico
- France
- Germany
- Italy
- United Kingdom
- China
- Indonesia
- Japan
- South Korea
- Australia
- European Union
History of G20
The G20 is the latest in a series of post-World War II programs aimed at coordinating international economic policy, including institutions such as the "Bretton Woods twins", the International Monetary Fund and the World Bank, as well as what is now the World. Commercial organization.
The G20 was earlier projected at the Cologne G7 summit in June 1999, and was officially launched at the G7 Finance Ministers' meeting on September 26, 1999 with the first meeting on 15–16 December 1999 in Berlin. Canadian Finance Minister Paul Martin was elected as the first chair and German Finance Minister Hans Eichel hosted the first meeting.
A 2004 report by Colin I. Bradford and Johannes F. Linn of the Brookings Institution asserted that the group was formed primarily by the plan of Eichel, the same G7 chair. However, Bradford later described former Canadian Finance Minister (and future Canadian Prime Minister) Paul Martin as "a key figure in the development of the G-20 at the finance minister's level", and as the one who later "suggested that G-20 countries attend leadership level conferences." Canadian academics and journalists have also identified the G20 project initiated by Martin and US Treasury Secretary Larry Summers. However, all agree that Germany and the United States play a vital role in making their vision a reality.
Martin and Summers discovered the G20 in response to a series of major debt problems that spread to emerging markets in the late 1990's, beginning with the Mexican peso crisis and followed by the 1997 Asian financial crisis, the 1998 Russian financial crisis, and finally. influential in the United States, the most notable of which is the fall of the long-term hedge fund fund for Long-Term Capital Management in the fall of 1998. It showed them that in the rapidly evolving world, the G7, G8, and the Bretton Woods system will not be able to provide financial stability, and they have acquired a new, broader portfolio of major global economies that will provide voice and innovation. obligations in providing it.
G20 Troika
G20 Troika means group of three countries within the G20 group. This time India joined Italy and Indonesia to form Troika on Afghanistan Issue. These three Countries starts with I and also to be known as I troika.
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