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G20
The G20 or Group of Twenty is
an intergovernmental forum comprising 19 G20
countries and the European Union (EU). It works Group of Twenty
to address major issues related to the global
economy, such as international financial
stability , climate change mitigation,
and sustainable development.[2]

The G20 is composed of most of the world's largest

economies, including both industrialised
and developing nations; it accounts for around
80% of G ross world product (GWP),[3] 59–77%
of international trade,[b] two-thirds of the global
population,[4] and 60% of the world's land area.

The G20 was founded in 1999 in response to

several world economic crises.[5] Since 2008, it Member countries in the G-20
has convened at least once a year, with Countries represented through the membership of the European
summits Union
involving each member's head of Permanently invited country, S pain
government or state, finance minister, or foreign
minister, and other high-ranking officials; the Formation 26 September 1999
EU is represented by the European Commission 2008 (h eads-of-state/heads-of-government summits)
and the European Central Bank.[6][7][c] Other Purpose Bring together systemically
countries, international organizations, important industrialized and developing economies to
and nongovernmental organizations are invited to discuss key issues in the global economy.[1]
attend the summits, some on a permanent basis.
Membership 20 members[a]
At its 2009 summit, the G20 declared itself the Chairman N arendra Modi, P rime Minister of India
primary venue for international economic and (Incumbent)
financial cooperation.[8] The group's stature has Website h ttps://g20.org/
risen during the subsequent decade, and it is
recognised by analysts as exercising considerable
global influence;[9] it is also criticised for its limited membership,[10] lack of enforcement powers,[11] and for the
alleged undermining of existing international institutions.[10] Summits are often met with protests, particularly
by anti-globalisation groups.[12][13]

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History

Founding

The G20 is the latest in a series of post–World War II initiatives aimed at international coordination of economic
policy, which include institutions such as the "Bretton Woods twins", the International Monetary Fund and the World
Bank, and what is now the World Trade Organization.[14]

The G20 was foreshadowed at the Cologne summit of the G7 in June 1999, and formally established at the G7 Finance
Ministers' meeting on 26 September 1999 with an inaugural meeting on 15–16 December 1999 in Berlin. Canadian
finance minister Paul Martin was chosen as the first chairman and German finance minister ans Eichel hosted the
H inaugural meeting.[15]

A 2004 report by Colin I. Bradford and J ohannes F. Linn of the Brookings Institution asserted the group was
founded primarily at the initiative of Eichel, the concurrent chair of the G7.[16] However, Bradford later described
then-Finance

Minister of Canada (and future Prime Minister of Canada) Paul Martin as "the crucial architect of the formation of
the G-20 at finance minister level", and as the one who later "proposed that the G-20 countries move to leaders
level summits".[17] Canadian academic and journalistic sources have also identified the G20 a project initiated by
Martin and his American counterpart then-Treasury Secretary Larry Summers.[18][19][20][21] All acknowledge,
however, that Germany and the United States played a key role in bringing their vision into reality.

Martin and Summers conceived of the G20 in response to the series of massive debt crises that had spread
across emerging markets in the late 1990s, beginning with the Mexican peso crisis and followed by the 1997 Asian
financial crisis, the 1 998 Russian financial crisis, and eventually impacting the United States, most prominently in
the form of the collapse of the prominent hedge fund Long-Term Capital Management in the autumn of 1998.[18][19]
[20]
It illustrated to them that in a rapidly globalizing world, the G7, G8, and the Bretton Woods system would be
unable to provide financial stability, and they conceived of a new, broader permanent group of major world
economies that would give a voice and new responsibilities in providing it.[18][20]

The G20 membership was decided by Eichel's deputy Caio Koch-Weser and Summers's deputy Timothy Geithner.
According to the political economist Robert Wade:

"Geithner and Koch-Weser went down the list of countries saying, Canada in, Portugal out, South Africa in, Nigeria
and Egypt out, and so on; they sent their list to the other G7 finance ministries; and the invitations to the first
meeting went out."[22]

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Early topics

The G20's primary focus has been governance of the global economy. Summit themes have varied from year to year.
The theme of the 2006 G20 ministerial meeting was "Building and Sustaining Prosperity". The issues discussed
included domestic reforms to achieve "sustained growth", global energy and resource commodity markets, reform of
the World Bank and IMF, and the impact of demographic changes due to an aging world population.

In 2007, South Africa hosted the secretariat with Trevor A. Manuel, South African Minister of Finance as chairperson
of the G20.

In 2008, Guido Mantega, Brazil's Minister of Finance, was the G20 chairperson and proposed dialogue on
competition in financial markets, c lean energy, economic development and fiscal elements of growth and
development.

On 11 October 2008 after a meeting of G7 finance ministers, S President George W. Bush stated that the next
U
meeting of the G20 would be important in finding solutions to the burgeoning economic crisis of 2008.

Summits

The Summit of G20 Finance Ministers and Central Bank Governors, who prepare the leaders' summit and implement
their decisions, was created as a response both to the financial crisis of 2007–2008 and to a growing recognition that
key emerging countries were not adequately included in the core of global economic discussion and governance.
Additionally, G20 summits of heads of state or g overnment were held.

After the 2008 debut summit in Washington, DC, G20 leaders met twice a year: in London and Pittsburgh in 2009,
and in Toronto and Seoul in 2010.[23]

Since 2011, when France chaired and hosted the G20, the summits have been held only once a year.[24] The 2016
summit was held in Hangzhou, China,[25] the 2017 summit was held in amburg, Germany, the 2018 summit was held
H
in Buenos Aires, Argentina, the 2019 summit was held in Osaka, Japan, the 2020 summit was scheduled in R
iyadh, Saudi Arabia but it was held virtually due to Covid-19, the 2021 summit was held in Rome, Italy and the 2022
summit was held in Bali, Indonesia.

A number of other ministerial-level G20 meetings have been held since 2010. Agriculture ministerial meetings were
conducted in 2011 and 2012; meetings of foreign ministers were held in 2012 and 2013; trade ministers met in 2012
and 2014, and employment ministerial meetings have taken place annually since 2010.[26]

In 2012, the G20 Ministers of Tourism and Heads of Delegation of G20 member countries and other invited States, as
well as representatives from the World Travel and Tourism Council (WTTC), World Tourism Organization (UNWTO)
and other organisations in the Travel & Tourism sector met in Mérida, Mexico, on May 16 at the 4th G20 meeting and
focused on 'Tourism as a means to Job Creation'. As a result of this meeting and The World Travel & Tourism
Council's Visa Impact Research, later on the Leaders of the G20, convened in Los Cabos on 18–19 June, would
recognise the impact of Travel & Tourism for the first time. That year, the G20 Leaders Declaration added the
following statement: "We recognise the role of travel and tourism as a vehicle for job creation, economic growth and
development, and, while recognizing the sovereign right of States to control the entry of foreign nationals, we will
work towards developing travel facilitation initiatives in support of job creation, quality work, poverty reduction and
global growth."[27]

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In March 2014, the former Australian foreign minister Julie Bishop, when Australia was hosting the 2014 G20
summit in Brisbane, proposed to ban Russia from the summit over its annexation of Ukrainian Crimea.[28] The
BRICS foreign ministers subsequently reminded Bishop that "the custodianship of the G20 belongs to all Member
States equally and no one Member State can unilaterally determine its nature and character."

In 2016, the G20 framed its commitment to the 2030 Agenda (Sustainable Development Goals) in three key themes;
the promotion of strong sustainable and balanced growth; protection of the planet from degradation; and furthering
co-operation with low-income and developing countries. At the G20 Summit in Hangzhou, members agreed on an
action plan and issued a high level principles document to member countries to help facilitate the agenda's
implementation.[29][30]

Japan hosted the 2019 summit,[31] The 2020 summit was to be held in Saudi Arabia,[32] but was instead held virtually
on 21–22 November 2020 due to the COVID-19 pandemic under the presidency of Saudi Arabia. 2021 G20 Rome
summit which was held in R ome, the capital city of Italy, on 30–31 October 2021.

List of summits

Chair rotation

To decide which member nation gets to chair the G20 leaders' meeting for a given year, all members, except the
European Union, are assigned to one of five different groupings, with all but one group having four members, the
other having three. Nations from the same region are placed in the same group, except Group 1 and Group 2. All
countries within a group are eligible to take over the G20 Presidency when it is their group's turn. Therefore, the
states within the relevant group need to negotiate among themselves to select the next G20 President. Each year, a
different G20 member country assumes the presidency starting from 1 December until 30 November. This system
has been in place since 2010, when South Korea, which is in Group 5, held the G20 chair. The table below lists
the nations' groupings:[33][34]

Group 1 Group 2 Group 3 Group 4 Group 5

Australia (2014) India (2023) Argentina (2018) France (2011) China (2016)
Canada (2010-1) Russia (2013) Brazil (2024) Germany (2017) Indonesia (2022)
Saudi Arabia (2020) South Africa (2025) Mexico (2012) Italy (2021) Japan (2019)
United States (2008) Turkey (2015) United Kingdom (2009) South Korea (2010-2)

To ensure continuity, the presidency is supported by a "troika" made up of the current, immediate past and next host
countries.[35]

Organization

The G20 operates without a permanent secretariat or staff. The group's chair rotates annually among the members
and is selected from a different regional grouping of countries. The incumbent chair establishes a temporary
secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The 2021
summit was held in Italy. The current chair is held by Indonesia. The 2023 and 2024 summits will be hosted by India
and Brazil respectively.[36]

Proposed permanent secretariat

In 2010, President of France Nicolas Sarkozy proposed the establishment of a permanent G20 secretariat, similar to
the United Nations. Seoul and Paris were suggested as possible locations for
its h eadquarters.[37] Brazil and C hina supported the establishment of a secretariat, while Italy and Japan
expressed opposition to the proposal.[37] South Korea proposed a "cyber secretariat" as an alternative.[37] It has been
argued that the G20 has been using the OECD as a secretariat.[38]

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Members

As of 2022, there are 20 members in the

group: Australia, Canada, China, Germany, India, Indonesia, Italy, South
France,
Argentina, Brazil,
Korea, Japan, Mexico, Saudi South Africa, Turkey, the United Kingdom, the United States, and
Russia, Arabia,
the European Union. Guest invitees include, amongst others, Spain, the United Nations, the World Bank, the African
Union and ASEAN. [39][40]

Representatives include, at the leaders' summits, the leaders of nineteen countries and of the European Union, and,
at the ministerial-level meetings, the finance ministers and central bank governors of nineteen countries and of
the European Union.

In addition, each year, the G20's guests include Spain;[41] the Chair of ASEAN; two African countries (the chair of
the African Union and a representative of the New Partnership for Africa's Development (NEPAD) and a country
(sometimes more than one) invited by the presidency, usually from its own region.[4][42][43]

The first of the tables below lists the member entities and their leaders, finance ministers and central bank governors.
The second table lists relevant statistics such as population and GDP figures for each member, as well as detailing
memberships of other international organizations, such as the G7, BRICS and MIKTA. Total GDP figures are given in
millions of US dollars.

Leaders

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Head of Head of Finance Ce

Member State
Government Ruling Party portfolio Portfolio minister ba
Centra
Argentina Alberto Fernández Justicialist Party Minister of Sergio the Ar
Economy
Massa
Repub
Anthony
Australia Charles III Reser
Albanese Australian Labor Party Treasurer Jim Chalmers
of Aus
Minister of
Brazil Jair Bolsonaro Liberal Party Centra
Economy Paulo Guedes
Brazil
Liberal Party of
Canada Charles III Justin Trudeau Bank o
Canada Minister of Finance Chrystia Freeland
Canad
Chinese Communist
China Xi Jinping Li Keqiang[d] People
Party Minister of Finance Liu Kun
of Chi

France Emmanuel
Macron Élisabeth Renaissance Minister of the Bruno Le Maire Bank o
Borne Economy
Frank-
Deuts
Walter Olaf Scholz Social Democratic Minister of Finance Christian Lindner
Germany Party of Bunde
Steinmeier Germany

India Droupadi Reser

Murmu Narendra Modi Bharatiya Janata Party Minister of Finance Nirmala Sitharaman
of Indi

Indonesia Joko Widodo Indonesian Democratic

Party of Struggle Minister of Finance Sri Mulyani Bank I

Minister of
Sergio
Italy Giorgia Meloni Brothers of Economy and Giancarlo Giorgetti Bank o
Mattarella
Italy Finance
Liberal Democratic
Japan Naruhito Fumio Kishida
Party Minister of Finance Shunichi Suzuki Bank o

Secretary of
National Regeneration Rogelio Ramírez de la
Mexico Andrés Manuel López Obrador Finance and Bank o
Movement O
Public Credit
Minister of
South Korea Yoon Suk-yeol People Power Party Economy and Choo Kyung-ho Bank o
Finance

Russia Vladimir
Putin Mikhail
United Russia Minister of Finance Anton Siluanov Bank o
Mishustin
Mohammed bin
Saudi Arabia Salman Saudi
Salman None Minister of Finance Mohammed Al-Jadaan
Bank
African National
South Africa Cyril Ramaphosa South
Congress Minister of Finance Enoch Godongwana
Reser

Turkey Justice and

Recep Tayyip Erdoğan
Development Party Minister of Centra
Treasury Nureddin the
and Nebati Re
Finance Turkey
Conservative and
United Kingdom Charles III Rishi Sunak Bank o
Unionist Party Chancellor of the Jeremy Hunt
Exchequer Englan
Secretary of the
United States Joe Biden Democratic Party Feder
Treasury Janet Yellen
Reser
European Union[44] Michel

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Alliance of
European People's
Liberals and
Democrats for Party
Ursula von der Europe Party Commissioner Europ
Paolo Gentiloni
Leyen for Centra
Economy

Current Leaders

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Argentina Australia Brazil Canada

Alberto Anthony Jair Justin
Fernández, Albanese, Bolsonaro, Trudeau,
President Prime Minister President Prime Minister

China France Germany India

Xi Jinping, Emmanuel Olaf Scholz, N arendra
Macron, Modi,
President[d] President Chancellor Prime Minister

Indonesia Italy Japan Mexico

Joko Widodo, Giorgia Fumio Andrés Manuel López
Meloni, Kishida,
President Prime Prime Minister O brador,
Minister
P resident

South Korea Russia Saudi Arabia South Africa

Yoon Suk-yeol, Vladimir Mohammed bin C yril Ramaphosa,
Putin,
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President President Salman, P resident
Prime Minister

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Turkey United Kingdom United States European Union

Recep Tayyip Rishi Sunak, Joe Biden, C harles Michel,
Erdoğan, Prime President President of the
President Minister European Council

European Union
Ursula von der
Leyen, President of
the European
Commission

Member country data

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Nom. GDP per PPP GDP per

Trade Nom. GDP PPP GDP capita capita
Member
bil. USD (2021)[45] mil. USD (2022)[46] mil. USD (2022) USD (2022) USD
[46] [47][48] (2022)[46]

Argentina 141.1 630,698 1,207,228 13,622 26,074

Australia 606.0 1,724,787 1,615,286 66,408 62,192

Brazil 515.5 1,894,708 3,782,763 8,857 17,684

Canada 1,011.6 2,200,352 2,240,390 56,794 57,827

China 6,052.5 18,321,197 30,074,380 12,970 21,291

France 1,298.9 2,778,090 3,688,323 42,330 56,200

Germany 3,052.1 4,031,149 5,316,933 48,398 63,835

India 968.3 3,468,566 11,665,486 2,466 8,293

Indonesia 425.9 1,289,429 4,023,501 4,691 14,638

Italy 1,167.8 1,996,934 3,022,162 33,740 51,062

Japan 1,525.0 4,300,621 6,109,961 34,358 48,813

Mexico 1,017.2 1,424,533 2,919,875 10,948 22,440

South Korea 1,259.5 1,734,207 2,765,834 33,592 53,574

Russia 797.8 2,133,092 4,649,674 14,665 31,967

Saudi Arabia 429.0 1,010,588 2,018,260 27,941 55,802

South Africa 237.6[e] 411,480 949,846 6,739 15,556

Turkey 496.6 853,487 3,320,994 9,961 38,759

United Kingdom 1,162.0 3,198,470 3,776,044 47,318 55,862

United States 4,689.6 25,035,164 25,035,164 75,180 75,180

European Union 5,078.1[f] 16,613,060 24,048,856 37,276 53,960

In addition to these 20 members, the chief executive officers of several other international forums and institutions
participate in meetings of the G20.[4] These include the managing director and Chairman of the International
Monetary Fund, the President of the World Bank, the International Monetary and Financial Committee and the
Chairman of the Development Assistance Committee.

The G20's membership does not reflect exactly the 20 largest economies of the world in any given year; as the
organization states:[1]

In a forum such as the G20, it is particularly important for the number of countries involved to be
restricted and fixed to ensure the effectiveness and continuity of its activity. There are no formal criteria
for G20 membership and the composition of the group has remained unchanged since it was
established. In view of the objectives of the G20, it was considered important that countries and
regions of systemic significance for the international financial system be included. Aspects such as
geographical balance and population representation also played a major part.

Role of Asian countries

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A 2011 report released by the Asian Development Bank (ADB) predicted that large Asian economies such as China
and India would play a more important role in global economic governance in the future. The report claimed that the
rise of emerging market economies heralded a new world order, in which the G20 would become the global
economic steering committee.[52] The ADB furthermore noted that Asian countries had led the global recovery
following the late-2000s recession. It predicted that the region would have a greater presence on the global stage,
shaping the G20's agenda for balanced and sustainable growth through strengthening intraregional trade and
stimulating domestic demand.[52]

Invitees

Typically, several participants that are not full

members of the G20 are extended invitations to
participate in the summits. Permanent guest
invitees are: the government of S pain; the Chair
of the Association of Southeast Asian Nations;
the Chair of the African Union; and a
representative of the New Partnership
for Africa's
Development are invited in their capacities as
leaders of their organisations and as heads of
government of their home states. In addition, the
leaders of the Financial Stability Board,
the International Labour Organization, G20 members (dark blue), countries represented through the European
the International Monetary Fund, the Organisation Union (light blue) and previously invited states (pink) as of 2016.
for Economic Co-operation and Development,
the United Nations, the World Bank Group and
the World Trade Organization are invited and
participate in pre-summit planning within the policy purview of their respective organisation.[53][41][54]

Other invitees are chosen by the host country, usually one or two countries from its own region.[54] For example,
South Korea invited Singapore. International organisations which have been invited in the past include the Asia-
Pacific Economic Cooperation (APEC), the Basel Committee on Banking Supervision (BCBS), the Commonwealth of
Independent States (CIS), the Eurasian Economic Community (EAEC), the European Central Bank (ECB), the Food
and Agriculture Organization (FAO), the Global Governance Group (3G) and the Gulf Cooperation Council (GCC).
Previously, the Netherlands had a similar status to Spain while the rotating presidency of the C ouncil of the European
Union would also receive an invitation, but only in that capacity and not as their own state's leader (such as the Czech
premiers Mirek Topolánek and Jan Fischer during the 2009 summits).

Permanent guest invitees

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Invitee Officeholder State Official title

President
African Union (AU) Macky Sall Senegal (Chairperson)
since February 2022

Cambodia Prime Minister

Hun Sen
Association of Southeast Asian Nations (ASEAN) (2022 chair)
Lim Jock Hoi — Secretary-General
Financial Stability Board (FSB) Klaas Knot — Chairperson
Food and Agriculture Organization (FAO) Qu Dongyu — Director-General
International Labour Organization (ILO) Guy Ryder — Director General
International Monetary Fund (IMF) Kristalina Georgieva — Managing Director

Spain[ 41] Pedro Sánchez Spain Prime Minister

Rwanda President
New Partnership for Africa's Development (AUDA-NEPAD) Paul Kagame
(chair)
Organisation for Economic Co-operation and Development (OECD) Mathias Cormann — Secretary-General
United Nations (UN) António Guterres — Secretary-General
World Bank Group (WBG) David Malpass — President
World Health Organization (WHO) Tedros Adhanom — Director General
World Trade Organization (WTO) Ngozi Okonjo-Iweala — Director General

Agenda

Financial focus

The initial G20 agenda, as conceived by US, Canadian and German policy makers, was very much focused on the
sustainability of sovereign debt and global financial stability, in an inclusive format that would bring in the
largest developing economies as equal partners. During a summit in November 2008, the leaders of the group
pledged to contribute trillions to international finance organizations, including the World Bank and IMF,
mainly for re- establishing the global financial system.[55][56]

Since inception, the recurring themes covered by G20 summit participants have related in priority to global e conomic
growth, international trade and f inancial market regulation.[57]

Inclusive growth

The G20 countries account for almost 75% of the global carbon emissions.[58] After the adoption of the UN
Sustainable Development Goals and the Paris Climate Agreement in 2015, more "issues of global
significance"[57][59] were added to the G20 agenda: migration, digitisation, employment, healthcare, the economic
empowerment of women and development aid.[60] Despite promises G20 nations subsidised fossil fuel companies
over $3.3 trillion between 2015 and 2021.[58]

Interrelated themes

Wolfgang Schäuble, German Federal Minister of Finance, has insisted on the interconnected nature of the
issues facing G20 nations, be they purely financial or developmental, and the need to reach effective, cross-cutting
policy measures: "Globalization has lifted hundreds of millions out of poverty, but there is also a growing rise in
frustration in some quarters […] development, [national] security and migration are all interlinked"[59]

G20 Engagement Groups

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The G20 Engagement Groups are independent collectives that are led by organisations of the host country. They
represent a diverse group of stakeholders and work collectively to develop non-binding policy recommendations
formally submitted to the G20 leaders for consideration.

For the 2022 G20 hosted by Indonesia, there are 10 Engagement Groups formed to facilitate independent
stakeholders in developing proposals and policy recommendations to G20 leaders.

Criticisms

Exclusivity of membership

Although the G20 has stated that the group's "economic weight and broad membership gives it a high degree of
legitimacy and influence over the management of the global economy and financial system,[61] its legitimacy has been
challenged. A 2011 report for the Danish Institute for International Studies criticised the G20's exclusivity,
particularly highlighting its underrepresentation of African countries and its practice of inviting observers from
non-member states as a mere "concession at the margins", which does not grant the organisation representational
legitimacy.[62] With respect to the membership issue, former US President Barack Obama noted the difficulty of
pleasing everyone: "Everybody wants the smallest possible group that includes them. So, if they're the 21st largest
nation in the world, they want the G21, and think it's highly unfair if they have been cut out."[63] Others stated in 2011
that the exclusivity is not an insurmountable problem, and proposed mechanisms by which it could become more
inclusive.[64]

Norwegian perspective

In line with Norway's emphasis on inclusive international processes, the United Nations, and the UN system, in a
2010 interview with Der Spiegel, the current prime minister of Norway Jonas Gahr Støre called the G20 "one of the
greatest setbacks since World War II"[10] as 173 nations who are all members of the UN are not among the G20. This
includes Norway, a major developed economy and the seventh-largest contributor to UN international
development programs,[65] which is not a member of the EU, and thus is not represented in the G20 even
indirectly.[10] Norway, like other such nations, has little or no voice within the group. Støre argued that the G20
undermines the legitimacy of international organizations set up in the aftermath of World War II, such as the IMF,
World Bank and United Nations:

The G20 is a self-appointed group. Its composition is determined by the major countries and powers. It
may be more representative than the G7 or the G8, in which only the richest countries are represented,
but it is still arbitrary. We no longer live in the 19th century, a time when the major powers met and
redrew the map of the world. No one needs a new Congress of Vienna.[10]

Norway, under the government of Erna Solberg, attended the 2017 G20 summit in Hamburg, Germany. [66]

Spanish position on membership

The Spanish government's policy is to not request officialmembership. Despite being hit hard by the economic crisis
after 2008, Spain is still the world's thirteenth largest economy by nominal GDP (the fourth in the European Union)
and fifteenth largest by p urchasing power parity, clearly exceeding the numbers of several current members of the
G20 such as Argentina or South Africa. In addition, since the 1990s several Spanish companies have gained
multinational status, often expanding their activities in culturally close Latin America, where Spain is the second
biggest foreign investor after the United States and keeps an important influence. These facts have reinforced the
idea that Spain should seek permanent membership of the G20.[41]

Polish aspirations

In contrast with the Spanish position, the Polish government has repeatedly asked to join the G20.
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Before the 2009 G20 London summit, the Polish government expressed an interest in joining with Spain and the
Netherlands and condemned an "organisational mess" in which a few European leaders speak in the name of all the
EU without legitimate authorisation in cases which belong to the European Commission.

During a 2010 meeting with foreign diplomats, Polish president Lech Kaczyński said:

Polish economy is according to our data an 18th world economy. The place of my country is among the
members of the G20. This is a very simple postulate: firstly – it results from the size of Polish economy,
secondly – it results from the fact that Poland is the biggest country in its region and the biggest country
that has experienced a certain story. That story is a political and economic transformation.[67]

In 2012, Tim Ferguson wrote in Forbes that swapping Argentina for Poland should be considered, claiming that the
Polish economy was headed toward a leadership role in Europe and its membership would be more legitimate.[68]
[69]
A similar opinion was expressed by Marcin Sobczyk in the Wall Street Journal.[70] Mamta Murthi from the
World Bank said: "To be in 'a club', what Poland can do is to behave as if it already is in the club it wants to join."[71]

In 2014, consulting company Ernst & Young published its report about optimal members for G20. After analyzing
trade, institutional and investment links Poland was included as one of the optimal members.[72]

G20 membership has been part of Poland's L aw and Justice party and President Andrzej Duda political
program.[73] In March 2017, Deputy Prime Minister of Poland Mateusz Morawiecki took part in a meeting of G20
financial ministers in Baden-Baden as the first Polish representative.[74][75]

Global Governance Group (3G) response

In June 2010, Singapore's representative to the United Nations warned the G20 that its decisions would affect "all
countries, big and small", and asserted that prominent non-G20 members should be included in financial reform
discussions.[76] Singapore thereafter took a leading role in organizing the Global Governance Group (3G), an informal
grouping of 30 non-G20 countries (including several microstates and many Third World countries) with the aim of
collectively channelling their views into the G20 process more effectively.[77][78][79] Singapore's chairing of the 3G was
cited as a rationale for inviting Singapore to the November 2010 G20 summit in South Korea,[80] as well as the 2011,
2013, 2014, 2015, 2016, and 2017 summits.

Foreign Policy critiques

The American magazine Foreign Policy has published articles condemning the G20, in terms of its principal function
as an alternative to the supposedly exclusive G8. It questions the actions of some of the G20 members, and advances
the notion that some nations should not have membership in the first place. Furthermore, with the effects of the
Great
Recession still ongoing, the magazine has criticized the G20's efforts to implement reforms of the world's
financial institutions, branding such efforts as failures.[81]

Wider concerns

The G20's prominent membership gives it a strong input on global policy despite lacking any formal ability to enforce
rules. There are disputes over the legitimacy of the G20,[82] and criticisms of its organisation and the efficacy of its
declarations.[83]

The G20's transparency and accountability have been questioned by critics, who call attention to the absence of a
formal charter and the fact that the most important G20 meetings are closed-door.[84] In 2001, the economist F
rances
Stewart proposed an Economic Security Council within the United Nations as an alternative to the G20. In such
a council, members would be elected by the General Assembly based on their importance to the world economy, and
the contribution they are willing to provide to world economic development.[85]

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The cost and extent of summit-related security is often a contentious issue in the hosting country, and G20 summits
have attracted protesters from a variety of backgrounds, including information activists, opponents of fractional-
reserve banking and anti-capitalists. In 2010, the Toronto G20 summit sparked mass protests and rioting, leading to
the largest mass arrest in Canada's history.[86]

Fossil fuel subsidies

The G20 countries account for almost 75% of the global carbon emissions and promised in 2009 to phase out
'inefficient subsidies'. Despite these promises G20 nations have subsidised fossil fuel companies over $3.3 trillion
between 2015 and 2021, with several nations increasing subsidies; Australia (+48.2%), US (+36.7%), Indonesia
(+26.6%), France (+23.8%), China (+4.1%), Brazil (+3.0%), Mexico (+2.6%).[58] China alone generates over half of
the coal-generated electricity in the world.[87]

Calls for removal of Russia

In March 2022, following Russia's invasion of Ukraine, U.S. President Joe Biden called for the removal of Russia
from the group. Alternatively, he suggested that Ukraine be allowed to attend the 2022 summit, despite its lack of
membership.[88] Canadian Prime Minister Justin Trudeau also said the group should "re-evaluate" Russia's
participation.[89] Russia claims it would not be a significant issue, as most G20 members are already fighting Russia
economically due to the war.[90] China suggested that expelling Russia would be counterproductive.[88] In November
2022, Indonesia and Russia issued a statement that Vladimir Putin would not attend the G20 summit in person, but
may attend virtually.[91] During the 2022 summit, Ukrainian president Volodymyr Zelenskyy appeared in a video
statement and repeatedly addressed the assembly as the G19 as a means of indicating his viewpoint that Russia
should be removed from the group.[92]

See also

Model G20
G8
G7

Notes

a. 19 countries and the European Union (EU).

b. If excluding EU intra-trade, 59%.

c. Summits were biannual in 2009 and 2010; since the November 2011 Cannes summit, G20 summits have
been annual.
d. The de jure h ead of government of China is the Premier of the State Council, whose current holder is Li
Keqiang. The President of China is legally a ceremonial office, but the General Secretary of the Chinese
Communist Party (de facto leader in o ne-party c ommunist state) and simultaneously the Chairman of the
Central Military Commission (commander-in-chief) has always held this office since 1993 except for the months
of transition, and the current paramount leader is Xi Jinping.
e. Estimate
f. Excluding intra-EU trade. The complete number is 13,099.0 bil. USD
g. 22 out of 27 EU states are classified as advanced

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Further reading

Haas, Peter M. (1992). "Introduction: Epistemic Communities and International Policy

Coordination" (PDF). International Organization. 46 (1): 1–35. doi:10.1017/S0020818300001442. ISSN 1 531-

5088. JSTOR 2706951. S2CID 145360263. Archived from the original (PDF) on 6 September 2015.
Hajnal, Peter I. (2007). The G8 System and the G20: Evolution, Role and Documentation. Global Finance Series.
Aldershot, England: Ashgate Publishing. ISBN 978-0-7546-4550-4.
Kirton, John J. (2013). G20 Governance for a Globalized World. Global Finance Series. Abingdon, England:
Routledge. ISBN 978-1-4094-2829-9.
Reinalda, Bob; Verbeek, Bertjan, eds. (1998). Autonomous Policy Making by International Organizations.
Routledge/ECPR Studies in European Political Science. Vol. 5. London: Routledge. ISBN 978-0-415-16486-3.
Samans, Richard; Uzan, Marc; Lopez-Claros, Augusto, eds. (2007). The International Monetary System, the IMF
and the G-20: A Great Transformation in the Making?. Basingstoke, England: Palgrave Macmillan. ISBN 978-0-
230- 52495-8.
Firzli, Nicolas J. (2017). "G20 Nations Shifting the Trillions: Impact Investing, Green Infrastructure and
Inclusive Growth" (PDF). Revue Analyse Financière. 64 (3): 15–18. Archived (PDF) from the original on 2
August 2017.

External links

Official website

G20 website of the OECD

G20 Information Centre from the University of Toronto

A Guide To Committees, Groups, And Clubs from the International Monetary Fund
G20 Special Report from The Guardian
"G20 Special Report". Inter Press Service. Archived from the original on 12 June 2010.
The G20's role in the post-crisis world by FRIDE
The Group of Twenty – A History , 2007
Economics for Everyone: G20 – Gearing for Growth

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