The G20 or Group of 20: All GK Facts

The G20, or Group of 20, is one of the most powerful global forums, bringing together 19 countries, the European Union, and the African Union to tackle critical issues like economic stability, climate change, and sustainable development.

Whether you’re preparing for competitive exams or simply curious about global governance, understanding the G20’s role and influence is key. In this blog post, we’ll explore essential G20 facts, including its history, member countries, and global impact. Read on to discover why the G20 is such an important player in the world’s economy.

Introduction to the G20

• Definition: The G20 (Group of 20) is an intergovernmental forum consisting of 19 sovereign countries, the European Union (EU), and the African Union (AU).

• Purpose: It addresses critical global economic issues such as international financial stability, climate change mitigation, and sustainable development through annual meetings of Heads of State and Heads of Government.

■ Also Read: List of All Static GK

Key Statistics about G20

• Economic Influence:
  • Accounts for approximately 85% of the world’s Gross World Product (GWP).
  • Responsible for about 75% of international trade.
  • Represents 56% of the global population.
  • Covers around 60% of the world’s land area.

• Global Presence (including the EU and AU):
  • The G20 covers 78.9% of the global population.
  • It accounts for 83.9% of global CO₂ emissions from fossil energy.

■ Also Read: All G20 Summits Venues list with Upcoming Summit Venues

History and Founding

• Formation: The G20 was founded in 1999 in response to various global economic crises.

• Annual Summits: Since 2008, the G20 has held annual summits with participation from member countries’ heads of government or state, finance ministers, foreign ministers, and other high-ranking officials.
  • European Union Representation: The EU is represented by the European Commission and the European Central Bank.

Expansion and Membership

• African Union’s Membership: In 2023, the African Union joined the G20 as its 21st member and participated officially in the 2024 summit in Brazil.

Role and Influence

• International Economic Cooperation: In its 2009 summit, the G20 declared itself the primary venue for international economic and financial cooperation.

• Global Influence: Over time, the G20 has become a major player on the global stage, exerting significant influence over international economic policies.

Criticism

• Limited Membership: The G20 has been criticized for its limited membership that excludes many countries.

• Lack of Enforcement Power: Critics argue that the G20 lacks the enforcement powers necessary to ensure the implementation of its decisions.

• Undermining International Institutions: Some believe that the G20 undermines existing international organizations and systems.

• Protests: G20 summits are often met with protests, especially from anti-globalization groups.

Recent Member of G-20

The African Union (AU) has recently become a permanent member of the G20. This significant development was announced during the G20 summit held in New Delhi, India, in September 2023. The inclusion of the AU aims to enhance the representation and voice of the African continent on key global issues.

List of G20 Countries

• Members: 19 countries + European Union (EU) + African Union (AU)

List of the 19 Countries

1. Argentina
2. Australia
3. Brazil
4. Canada
5. China
6. France
7. Germany
8. India
9. Indonesia
10. Italy
11. Japan
12. Republic of Korea
13. Mexico
14. Russia
15. Saudi Arabia
16. South Africa
17. Türkiye
18. United Kingdom
19. United States

Understanding the G20 Agenda

Financial Focus

• The G20 was initially created to address issues like sovereign debt and global financial stability.

• Key goal: Include large developing economies as equal partners.

• In November 2008, G20 leaders pledged trillions of dollars to organizations like the World Bank and IMF to restore global financial systems.

• Common priorities include:
  • Promoting global economic growth.
  • Regulating international trade.
  • Strengthening financial markets.

• Debt Service Suspension Initiative:
  • This program helped 73 poor countries by suspending their debt repayments.

Growth and Sustainability

• G20 countries produce about 75% of global carbon emissions.
• Since 2015, topics like these were added to the agenda:
  • Migration
  • Digital advancements
  • Employment
  • Healthcare
  • Empowering women economically
  • Development aid
  • Climate change

• Despite promises to phase out fossil fuel subsidies in 2009, G20 members provided $3.3 trillion in subsidies between 2015–2021.
  • Examples of increased subsidies:
    • Australia: +48.2%
    • United States: +36.7%
    • Indonesia: +26.6%
    • France: +23.8%
    • China: +4.1%

Interrelated Themes

• Issues like development, security, and migration are interconnected.
• Globalization has improved lives by reducing poverty but also created challenges in certain areas.
• Effective policies need to address all these linked issues together.

Important Questions about G-20

Q1: G20 summit 2023 held in which country?
Answer: The G20 summit in 2023 was held in India, New Delhi.

Q2: First G20 summit held in which country?
Answer: The first G20 summit was held in Washington, D.C., United States in 2008.

Q3: Which country will host G20 summit in 2024?
Answer: The G20 summit in 2024 was hosted by Brazil, in Rio de Janeiro.

Q4: 2025 G20 summit held in which country?
Answer: The G20 summit in 2025 will be held in South Africa, Johannesburg.

Q5: Where is the headquarter of G20?
Answer: The G20 does not have a permanent headquarters or secretariat. Instead, the presidency rotates annually among its member countries, which are responsible for organizing the meetings and setting the agenda during their term.

Q6: What is the official language of the G20 Summit?
Answer: The G20 Summit recognizes English, French, and Spanish as its official languages. However, English is the most widely used and prominent language for official communications and proceedings.

Q7: Why India join G20?
Answer: As a founding member of the G20, India has actively utilized the platform to highlight critical global issues. The country focuses on matters that significantly affect the most vulnerable populations worldwide, advocating for inclusive growth and sustainable solutions.

Q8: What are the objectives of G20 in 2024?
Answer: Brazil, as the G20 President for 2024, has identified three major priorities for the G20 dialogue:

1. Social Inclusion
2. Combating Hunger

These priorities aim to address global challenges and promote equitable development.

Q9: Which G20 member has the largest economy?
Answer: In 2024, the United States had a GDP of 27.7 trillion U.S. dollars, making it the biggest economy in the world and in the G20 group of countries. China was the second-largest economy, with a GDP of 17.8 trillion U.S. dollars that year.

Conclusion

The G20 plays a pivotal role in shaping global economic policy, but it faces ongoing criticism regarding its membership and effectiveness in enforcing decisions. Despite these challenges, its influence in addressing global economic and environmental issues remains substantial.

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