Why Was G20 Created

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The Group of Twenty (G20) is a collection of twenty of the world’s largest economies formed in 1999. It was created in the wake of the Asian financial crisis as an expansion of the G7/G8 to include countries that previously had been left out of the global discussion . The G20 was elevated to include heads of state and government in 2008, at the height of the global economic crisis.

The G20 provides a forum for strategic economic communication between industrialized and developing countries. It aims to secure global financial stability by involving middle-income countries. The G20 has been instrumental in coordinating global economic policy during times of crisis.

The G20 is composed of 19 individual countries plus the European Union (EU). The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States.

The G20 has no permanent secretariat or staff. Instead, it relies on a rotating presidency system. The presidency rotates annually among its members and is responsible for setting the agenda for G20 meetings and ensuring continuity in its work.

In conclusion, the G20 was created to provide a forum for strategic economic communication between industrialized and developing countries. It aims to secure global financial stability by involving middle-income countries. The G20 has been instrumental in coordinating global economic policy during times of crisis. The G20 is composed of 19 individual countries plus the European Union (EU). The presidency rotates annually among its members and is responsible for setting the agenda for G20 meetings and ensuring continuity in its work.

Here are some websites that discuss Why Was G20 Created:
– https://www.cfr.org/backgrounder/what-does-g20-do
– https://www.britannica.com/topic/Group-of-20
– https://indianexpress.com/article/explained/everyday-explainers/g20-nations-india-president-explained-8017929/

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