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What is the meaning of G20?

  • Author:Sunnie
  • Source:phoneaccessorieschina.com
  • Release on :2016-09-06

On September 5th, 2016, which countries will attend the G20 Summit? What is the meaning of G20? The G20 Summit was held in Hangzhou, China. The meeting of whole G20 group is a forum for international economic cooperation which evolve from the G8 Group in 1999s that belongs to an informal dialogue mechanism. Mainly from Asia, Europe, Africa, Oceania and the Americas total 20 Members.

G20 country gross national product is more than 85% of the world and its population is nearly 2/3, aimed to allow relevant countries to have an  informal dialogue according to the topics of international economy and monetary policy so as to promote stability of the international financial and monetary system.

G20 members include:

Asia: China, Korea, and Japan, and India, and Indonesia, and Saudi Arabia;

Europe: Russia and the United Kingdom, and France, and Germany, and Italy, and Turkey and the European Union;

Africa: South Africa;

Oceania: Australia;

Americas: United States, and Canada, and Mexico, and Brazil, and Argentina.

The meeting of G20 Summit are not fixed. They are two days meeting and held once a year. Meanwhile, it will elect one of the member to hold the G20 Summit among the 20 Member States.

G20 Summit’s main activities are Finance Ministers and Central Bank Governors meetin. After the economic crisis in 2007 and 2010 , since 2008 becoming part of a summit-level meeting to address the problems faced by the current global economic situation and discuss strategies.

September 4th-5th, the 22 times G20 Summit was held in Hangzhou, China, XI Jinping and other leaders attended the meeting and delivered an important speech, 20 members of the national main leaders also were present at the Summit level.

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