Which countries will participate in the 2019 G20 Summit? What does the G20 Summit mean?

Hangzhou, China will host the G20 Summit from September 4th to 5th. So which countries will participate in the G20 Summit?

Which countries will participate in the G20 Summit?

The G20 Summit will be held in Hangzhou, China. The G20 Summit will be held from September 4th to 5th. Countries participating in the G20 Summit will include the founding countries, member states and specially invited representatives of the G20 Summit.

What does the G20 summit mean?

The G20 summit is an international economic cooperation forum established in Berlin, Germany on December 16, 1999. It is an informal forum within the framework of the Bretton Woods system. A mechanism for dialogue, consisting of the original G8 and 12 other major economies. The G20 summit aims to promote open and constructive discussions and research on substantive issues between industrialized developed countries and emerging market countries, in order to seek cooperation and promote international financial stability and sustained economic growth. In accordance with past practice, the International Monetary Fund and the World Bank attend meetings of the organization.

What countries are included in the G20 summit?

Founding countries

The Group of Twenty (Group20) was established by the finance ministers of the Group of Eight on September 25, 1999. Proposed in Washington, the purpose is to prevent a recurrence of the Asian financial crisis and allow relevant countries to hold informal dialogues on international economic and monetary policies to facilitate the stability of the international financial and monetary system. The G20 has held leaders’ summits since 2008. As the G20 structure matured, and in order to reflect the importance of emerging industrial countries, leaders of the G20 member states announced in 2009 that the organization would replace the G8 as the main forum for global economic cooperation.

Member States

The G20 consists of the United States, the United Kingdom, Japan, France, Germany, Canada, Italy, Russia, Australia, China, Brazil, Argentina, Mexico, South Korea, and Indonesia , India, Saudi Arabia, South Africa, Turkey, ***19 countries and the European Union. The gross national product of these countries accounts for about 85% of the world's total, and their population accounts for nearly two-thirds of the world's total population.

Specially invited representatives

In order to ensure the close ties between the G20 and the Bretton Woods institutions, the President of the International Monetary Fund, the President of the World Bank and the Chairman of the International Monetary and Financial Committee and the Development Committee Also participates in the forum as a special representative.

Themes of G20 summits over the years:

The first summit: November 2008, United States - Washington

Theme: Global recovery, Financial Regulation

Second Summit: April 2009, London, UK

Theme: Reforming the International Financial System

Third Summit: September 2009 United States - Pittsburgh

Theme: International Financial System Reform and Global Economic Imbalances

The Fourth Summit: Canada-Toronto, June 2010

Theme: Promotion Full recovery of the world economy

The fifth summit: November 2010, South Korea-Seoul

Theme: Exchange rate, global financial safety net, reform and development issues of international financial institutions

The Sixth Summit: November 2011, France-Cannes

Theme: Responding to the European Debt Crisis, Promoting Global Economic Growth, Strengthening International Financial Supervision, and Promoting Social Security and Coordinated Development

The seventh summit: June 2012, Mexico-Los Cabos

Theme: Strengthening the international financial system and employment, development, and trade

The eighth summit: 2013 Russia - St. Petersburg in September 2019

Theme: Modernization of the Treasury Issuance and Management System

The Ninth Summit: Australia-Brisbane in November

Theme: Promote the growth of private enterprises, increase the resilience of the global economy and strengthen the global system

The 10th Summit: November Turkey-Antalya

Theme: ***Coordinated Action to Achieving inclusive and steady growth

The 11th Summit: China-Hangzhou in September

Theme: Building an innovative, dynamic, interconnected and inclusive world economy;