Short Note On G 20 Pdf Download -UPSC,SSC, IBPS,CDS,NDA,IR

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Short Note On G 20 Pdf Download -UPSC,SSC,IBPS,CDS,NDA,IR

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What is G 20?

  • It is an international forum for the governments and central bank governors from 20 major economies.
  • It is not governed by any written rules or laws.
  • Though the G-20’s primary focus is global economic governance, the themes of its summits vary from year to year.
  • Despite lacking any formal ability to enforce rules, the G-20’s prominent membership gives it a strong input on global policy.
  • The forum was created at the initiative of the seven major industrial countries (Canada, France, Germany, Italy, Japan, U.K. and USA) to promote consultations and coordination with the emerging and developing economies.

Objective of G 20

  • Promotion of International Financial Stability through discussions.
  • It seeks to address issues that go beyond the responsibilities of any one organization

Members of G 20

  • The members include 19 individual countries—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States—along with the European Union (EU).
  • The EU is represented by the European Commission and by the European Central Bank.

History of G 20

  • The G-20 was founded in 1999.
  • The inaugural meeting was held in Berlin in 1999.
  • The G-20 is the latest in a series of post-World War II initiatives aimed atinternational coordination of economic policy.
  • Previous initiatives include “Bretton Woods’s twins”, the International Monetary Fund and the World Bank, and what is now the World Trade Organization.

Presidency: G 20 leaders’ chair rotation

  • To decide which member nation gets to chair the G-20 leaders’ meeting for a given year, all 19 sovereign nations are assigned to one of five different groupings.
  • Each group holds a maximum of four nations.
  • This system has been in place since 2010, when South Korea, which is in Group 5, held the G-20 chair.
  • Australia, the host of the 2014 G-20 summit, is in Group 1. Turkey, in Group 2, hosted the summit this year.
  • The current chair of the G-20 is Turkey; the chair was handed over from Australia after the 2014 G-20 summit.
  • Turkey hosted the 2015 summit in Antalya, while
  • China will host the 2016 summit in Hangzhou.
  • India to hold G20 Chair in 2018.

 

 

Organization

  • The G-20 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 chair is part of a revolving three-member management group of past, present and future chairs, referred to as the “Troika”.
  • The incumbent chair establishes a temporary secretariat for the duration of its term.
  • The role of the Troika is to ensure continuity in the G-20’s work and management across host years.

Is G 20 an institution like World Bank/IMF/UN?

  • No. The G20 operates as a forum and is not a multilateral institution like World Bank/IMF/UN. It does not, therefore, have any permanent secretariat or management and administrative structure.

How many Summits have so far been held?

  • Nine G20 Leaders Summit have been held so far. First, in Washington D.C.on November 15, 2008.
  • Sixth, in Cannes (France) on November 3-4, 2011
  • 9th summit in Brisbane, Australia on November 15-16, 2014.
  • The 10th G20 Leaders Summit in Antalya, Turkey on November 15-16, 2015.

Are the decisions of G20 legally binding on countries and institutions?

  • No. G20 decisions are not legally binding on countries and institutions.
  • However, all the members voluntarily commit to comply with the decisions.
  • Also, compliances to the commitments made by countries are monitored through Mutual Assessment Process.

What is “Troika” in G 20 context?

  • “Troika” is a Russian word meaning – a set of three.
  • In the G20 context, the immediate past year’s Presidency, the current year’s Presidency, and the next year’s Presidency constitute “Troika” that acts as a Steering Committee to ensure continuity in G20 work.
  • The G20 current presidency in 2015 is held by Turkey. In 2014, Australia held the G20 Presidency. In the next year in 2016 China will host the G20 Presidency. These three countries constitute “Troika” at present.

10th G20 Summit, Turkey, 2015

  • Prime Minister of Turkey has outlined that the three I’s of the Turkish Presidency will be: Inclusiveness, Implementation, and Investment for Growth.
  • But the Paris Attacks and ISIS took the center stage by overshadowing economic issues in this year’s meeting.
  • Russian and American Presidents held informal meeting in order to arrive at a conclusion on Syria.
  • This year’s G-20 meet is significant as it brought the two arch rivals to the same table over common global issue of terrorism and Syrian Crisis.
  • President Obama and President Putin agreed on the need for a Syrian-led and Syrian-owned political transition (finally the two idiots made a right decision –  but only after killing thousands, creating refugee crisis, creating a demon called ISIS etc.), which would be proceeded by UN-mediated negotiations between the Syrian opposition and regime as well a ceasefire.

PM Modi on Terrorism

  • PM Modi pitched strongly for a combined global initiative to end the menace of Terrorism.
  • Mr. Modi demanded that the G20 push for stronger, coordinated global action for putting an end to finance, supplies and communication channels of terrorists.
  • He stressed for an early adoption of the Comprehensive Convention on International Terrorism.
  • He also sought a special international legal regime to take on terrorist activities and cooperation for the prevention of the use of cyber networks by terrorist groups.
  • Delink terror and religion, Modi told G20 Leaders.

G20 2016 held In Hangzhou ,china 

  • G 20 ,2016 Meeting was Held in China – Hangzhou District 
  • Dates – between 4th And 6th of Sep 2016
  • Mains objective of this G20 meeting was – Discuss Effort to reform global Economic Governance
  • The theme of 2016 G20 Summit: “Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy”.