G-20
(group of developing and developed nations/ Major
Economies)
ü 1999.
ü Group of 20 Finance Ministers & Apex Bank Governors
ü Objective: to bring
together the developed and developing economies.
ü First summit was held in USA in 2008
ü 9th
Australia in November 2014.
ü 10th
summit was held in Turkey (Antalya).
ü The French
President Francois Hollande did not attend the summit and Foreign Minister
Laurent Fabius was sent .
ü 11th
summit will be held in Hangzhou (China)
ü In the year 2018
India will be hosting the summit. This will be the first in India
ü 2016 summit will be
the first summit to be held in China
ü The group's chair rotates
annually among the members and is selected from a different regional grouping
of countries.
ü All 19 countries are divided
into 5 groups and each group is with a maximum of 4 members
ü The guest list also includes
Spain, Chair of ASEAN, the chair of the African Union and New Partnership of
Africa’s development,
ü No permanent secretariat and staff. In 2010 France suggested for
setting up of secretariat in the lines of UNO. It was supported by Brazil and
China but opposed by Japan and Italy
ü The incumbent country established a temporary secretariat
ü May be set up in Paris or Seoul.
ü South Korea proposed for Cyber Secretariat.
ü Troika: This is a group of three chairs (Past, present and future).
ü The Troika ensures the continuity of the work
ü Argentina, Australia, Brazil, Canada, China, France, Germany, India,
Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South
Korea, Turkey, UK and US.
ü B 20 summit (business leaders) was held in Sydney in 2014 and Turkey
in 2015
ü C 20 summit (Civil Society leaders) was held in 2014 in Melbourne
ü T 20 Summit (Think Tank) summit was held in 2013 in Moscow. Later it
was not held
The primary
focus of G20 is global economic governance
G20 consists of
2/3rds of World population
Role of India and China in G20:
ü
The Asian Development Bank
located in Manila, Philippines predicted more significant role in global
economic governance in future
ü
Both the nations including
other Asian countries would work for balanced and sustainable growth through
strengthening intraregional trade and also stimulating domestic demand.
NWS:
ü
USA, UK, Russia, France and
China are NPT (Nuclear Non-Proliferation Treaty) Nuclear Weapon States
ü
Germany, Italy and Turkey are
the nuclear weapon sharing states (other nations out of G20 are Belgium and
Netherlands)
ü
India is a NWS but it’s a non
signatory of NPT
Criticism:
ü
The under representation of
African nations was criticized
ü
Providing observer state status
does not satisfy the members
ü
The decisions of the G20 may
affect the global economy. It was expressed by Singapore in UNO
ü
No charter
ü
No transparency
ü
No Accountability
ü
Expenditure for the host
country is a serious issue as it needs to provide a high security because of
threat from terrorism and protestors (This is seen in Antalya too)
Suggestions:
ü
More members must be included
ü
Economic Security Council (ESC)
should be established with in UNO. This works like an alternative to G20
ü
And the members for ESC should
be elected by UNGA based on their importance of World economy
ü
Members must provide high contributions for the World economic
development
Latest:
ü Just before the Antalya summit there was an attack on France
ü Russian
military action in Syria is increasing the number of refugees trying to reach
Europe. This is said by European Council President Donald Tusk.
ü The
G20 summit of world leaders is primarily focused on economic matters, but the
two-day meeting in the coastal province of Antalya has been overshadowed by the deadly
attacks in Paris
ü This
took the centre state in G20 summit
ü IS announced
that it was behind the attacks which led to the loss of 129 lives
ü This is the
time that USA and Russia should work together against IS and not separately
ü There are
doubts on the intentions of Russia. It should act against IS and not against
moderate opposition
ü IS controls
larger areas of Syria and Iraq
ü During the
summit the Secretary General of UN Ban Ki Moon said that he will soon present
to the member states a comprehensive plan to prevent violent extremism
ü The US
President said that it was an attack in the civilised World