The G20 or Group of 20 is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU), and the African Union (AU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development.
The 2006 G20 Meeting of Finance Ministers and Central Bank Governors was held in Melbourne, Australia between 18 and 19 November 2006. Issues discussed included "the outlook for the global economy; developments in resource markets and ways to improve their efficiency; the impact of demographic change on global financial markets; and further reform of the International Monetary Fund and the World Bank."
The 2008 G20 Washington Summit on Financial Markets and the World Economy was the first meeting, held in Washington, D.C., United States. It achieved general agreement amongst the G20 on how to cooperate in key areas so as to strengthen economic growth, deal with the 2007–2008 financial crisis, and lay the foundation for reform to avoid similar crises in the future. The Summit resulted from an initiative by the French and European Union President, Nicolas Sarkozy, Australian Prime Minister Kevin Rudd, and the British Prime Minister, Gordon Brown. In connection with the G7 finance ministers on October 11, 2008, United States President George W. Bush stated that the next meeting of the G20 would be important in finding solutions to the economic crisis. Since many economists and politicians called for a new Bretton Woods system to overhaul the world's financial structure, the meeting has sometimes been described by the media as Bretton Woods II.
The 36th G8 summit was held in Muskoka, Ontario, Canada, on June 25–26, 2010. In this year's meeting, the G8 leaders agreed in reaffirming the group's essential and continuing role in international affairs and "assertions of new-found relevance". The form and function of the G8 was reevaluated as the G20 summits evolved into the premier forum for discussing, planning and monitoring international economic cooperation.
The China–Japan–South Korea trilateral summit is an annual summit meeting attended by the People's Republic of China, Japan and South Korea, three major countries in East Asia and the world's second, fourth and 12th largest economies. The first summit was held during December 2008 in Fukuoka, Japan. The talks are focused on maintaining strong trilateral relations, the regional economy and disaster relief.
The 37th G8 summit was held on 26–27 May 2011 in Deauville, France.
The 2009 G20 London Summit was the second meeting of the G20 heads of government/heads of state, held in London at the ExCeL Exhibition Centre to discuss financial markets and the world economy. Heads of government or heads of state from the G20 attended, with some regional and international organisations also represented. Due to the extended membership, it has been referred to as the London Summit.
The 2009 G20 Pittsburgh Summit was the third meeting of the G20 heads of state and heads of government, held in Pittsburgh, Pennsylvania, United States, to discuss financial markets and the world economy.
The ASEAN Summit is a biannual meeting held by the members of the Association of Southeast Asian Nations (ASEAN) in relation to economic, political, security, and socio-cultural development of Southeast Asian countries. The league of ASEAN is currently connected with other countries who aim to participate on the missions and visions of the league.
The 2010 G20 Toronto summit was the fourth meeting of the G20 heads of state/government, to discuss the global financial system and the world economy, which took place at the Metro Toronto Convention Centre in Toronto, Ontario, Canada. The summit's priorities included evaluating the progress of financial reform, developing sustainable stimulus measures, debating global bank tax, and promoting open markets. Alongside the twenty-one representatives of the G20 major economies, leaders of six invited nations, and eight additional intergovernmental organizations also took part in the summit.
2010 G20 Toronto summit preparations had already begun in advance of the announcement of the meeting venue. Preparations for the important topics to be discussed at the summit evolved in tandem with practical planning for the meeting as a venue and as an event.
The 2010 G20 Seoul summit preparations encompass all the work which preceded the 2010 G20 Seoul summit.
Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies. As the exchange rate of a country's currency falls, exports become more competitive in other countries, and imports into the country become more and more expensive. Both effects benefit the domestic industry, and thus employment, which receives a boost in demand from both domestic and foreign markets. However, the price increases for import goods are unpopular as they harm citizens' purchasing power; and when all countries adopt a similar strategy, it can lead to a general decline in international trade, harming all countries.
The 2011 G20 Cannes Summit was the sixth meeting of the G20 heads of government/heads of state, held in Cannes, France, in a series of on-going discussions about financial markets and the world economy.
The Seoul Development Consensus for Shared Growth is a set of principles and guidelines set up to assist the G20 nations and other global actors in working collaboratively with less developed countries in order to boost their economic growth and to achieve the UN's Millennium Development Goals. It was endorsed by the leaders of G20 nations at the 2010 G-20 Seoul summit, with a multi-year action plan drafted for the delivery of tangible results.
The Currency War of 2009–2011 was an episode of competitive devaluation which became prominent in the financial press in September 2010. It involved states competing with each other in order to achieve a relatively low valuation for their own currency, so as to assist their domestic industry. Due to the Great Recession, the export sectors of many emerging economies experienced declining orders and from 2009, several states began or increased their levels of currency intervention. According to many analysts the currency war had largely fizzled out by mid-2011 although the war rhetoric persisted into the following year. In 2013, there were concerns of an outbreak of another currency war, this time between Japan and the Euro-zone.
The 2015 G20 Antalya summit was the tenth meeting of the G20 heads of government/heads of state. It was held in Belek, Antalya Province, Turkey. The venue for the Leaders Summit was Regnum Carya Hotel Convention Centre at the Regnum Carya Golf & Resort Spa.
The 2013 G20 Saint Petersburg summit was the eighth meeting of the G20 heads of government/heads of state. The hosting venue was the Constantine Palace in Saint Petersburg, Russia.
The 2019 G20 Osaka summit was the fourteenth meeting of the G20, held at the International Exhibition Center in Osaka. It was the first G20 summit hosted by Japan.
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