Business
G20 Explained: The World's Economic Steering Group
Discover the G20, the international forum for the world's largest economies to discuss global financial and economic cooperation.
What is it?
The Group of Twenty, or G20, is the premier international forum for global economic cooperation. It brings together leaders from 19 of the world's largest economies plus the European Union and the African Union. Collectively, its members represent around 85% of the global GDP, over 75% of global trade, and about two-thirds of the world's population. Established in 1999, the G20 addresses major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
Why is it trending?
The G20 is perpetually trending because its annual summit addresses the most pressing global challenges of the day. Discussions at these high-profile meetings, which gather heads of state, finance ministers, and central bank governors, often make international headlines. Recent summits have focused on post-pandemic economic recovery, supply chain resilience, international trade tensions, and coordinated action on climate change, keeping the G20 at the forefront of global news cycles.
How does it affect people?
Decisions made by the G20 have significant, real-world consequences for people everywhere. Agreements on trade policies can influence the price of consumer goods and affect job markets in various industries. Commitments to financial regulations can impact banking stability and personal savings. Furthermore, coordinated efforts on issues like global health and climate change can shape public health responses and environmental policies that directly influence daily life and future well-being across the globe.