Economic Aspect G20
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Economic Aspect G20



Economic Aspect G20

Economic Aspect G20



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Economic Aspect G20 Economic Aspect G20 Presentation Transcript

  • ECONOMIC ASPECT:G-20 Presented by: Abhishek Verma Deepali Agrawal Amit Kumar Singh
  • WHAT IS G20? The Group of Twenty Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
  • MEMBERSHIP OF G20 Argentina Japan Australia Mexico Brazil Russia Canada Saudi Arabia China South Africa France Republic of Korea Germany Turkey India United Kingdom Indonesia United States of Italy America
  • FORMER CHAIR  1999-2001 Canada  2002 India  2003 Mexico  2004 Germany  2005 China  2006 Australia  2007 South Africa  2008 Brazil  2009 United Kingdom
  • MEETINGS AND ACTIVITIES  Agenda to meet atleast once in a year.  Main focus on case studies and technical work.  Control By: • Central bank governors • Finance ministers
  • 2010 EVENTS OF G20  Deputies Meeting, February 27-28, Korea. (Incheon Songdo)  Meeting of Finance Ministers and Central Bank Governors, April 23, USA. (Washington, D.C)  Meeting of Finance Ministers and Central Bank Governors, June 4-5, Korea. (Busan)  G-20 Summit Meeting, June 26-27, Canada. (Toronto)  Deputies Meeting, September 4-5, Korea. (Gwangju)  Meeting of Finance Ministers and Central Bank Governors, October, USA. (Washington, D.C)  Meeting of Finance Ministers and Central Bank Governors, October 22-23, Korea. (Gyeongju)  G-20 Summit Meeting, November 11-12, Korea (Seoul)
  • MAIN PURPOSE OF G20  Coordinated macro-economic actions to revive the global economy, stimulate growth and employment.  Reform and improve financial sector & systems .  Reform international financial institutions (IFIs) - International Monetary Fund (IMF), Financial Stability Forum (FSF) and World Bank.  Deal with Fnancial instability and lack of growth, the loss of trade, the loss of jobs that are hurting every continent.
  • IMPACT OF G20  World leaders discuss how they will work.  G20 economic growth will improve lives of the poorest.  Disproportionate impact of the global crisis on the poor and vulnerable.  Dealing with jobs and unemployment.
  • CHALLENGES FOR G20  The G20 is more representative of the world as a whole and accountability for decisions is less concentrated.  It is difficult enough to try and pass an idea to the entire government and public of a single nation where there are 20 nations.  companies move to countries with lighter restrictions or protectionism.  It is a very odd organisation. It doesn't have any constitutional powers.
  • G20 MEET SUCCESSFUL FOR INDIA?  Our Prime Minister Manmohan Singh said that this had marked a shift in balance of economic power in favour of emerging economies.  We were previously also invited for the past couple of years for the G-8 meetings but consultations were merely for the sake of form.  First time there was a genuine dialogue between many of the developed countries and the emerging economies.
  • BENEFITS OF G20  it provides the conditions for developing countries to embark on peace, prosperity and pluralism.  Trade has been shown to be the indispensable means for poverty reduction and growth.  To be a close correlation between a country engaging in open trade and ultimately embracing democracy.  G-20 helps to support growth and development across the globe.
  • FUTURE ASPECTS OF G20  G-20 nations can work together to renew globalization and economic growth in the post- crisis world by addressing.  Sources of growth and the role of innovation.  The role of financial regulation and trade in restoring growth.  Educating a workforce for the twenty first- century economy.  Social and political challenges of renewing globalization.
  • SOURCES     