The 2017 G20 Hamburg summit is the twelfth meeting of the Group of Twenty (G20) held on 78 July 2017 in the city of Hamburg (Germany).
The Group of Twenty is comprised of 19 countries plus the European Union. The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America.
And what can we expect?
Are you ready, GAF? Cause G20 is almost here!
The Group of Twenty is comprised of 19 countries plus the European Union. The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America.
Economic affairs the strongest economies
The G20 countries produce around 80 percent of global economic output in terms of gross domestic product (GDP) adjusted for purchasing power parity. In 2015, Chinas GDP was around 19.7 billion international dollars when adjusted for purchasing power parity. This makes China the largest economy in the world, followed by the United States, India and Japan. Germany was in fifth place, at 3.9 billion international dollars.
Global trade the most successful exporting countries
G20 countries account for three‑quarters of global trade. China, the United States, Germany and Japan are the four largest exporting countries in the world. Of the 20 countries with the largest volume of exports worldwide, 15 are members of the G20.
People the countries with the largest populations
Around two‑thirds of the global population live in the G20 member countries. China, the country with the largest population in the world, has approximately 1.38 billion inhabitants, closely followed by India, which has a population of 1.3 billon. The United States, Indonesia and Brazil are next in the list. Germany is in seventeenth place.
Surface area the largest countries
Russia is the largest country in the world in terms of surface area. Its some 144 million inhabitants live in an area of around 17 million square kilometres. Indonesia is the worlds largest island country. It is spread across 17,508 islands. Brazil is both the largest and the most populous country in South America, with a population of over 200 million.
Partners key international institutions
At the invitation of each Presidency, international organisations also regularly attend the G20 meetings. These organisations include the International Labour Organization (ILO), the International Monetary Fund (IMF), the Financial Stability Board (FSB), the World Bank (WB), the World Trade Organization (WTO), the Organisation for Economic Cooperation and Development (OECD) and the United Nations (UN). The German G20 Presidency has also invited the World Health Organization (WHO) in 2017.
Participation the most important guests
Spain attends the G20 Summits as a permanent guest. The Presidency can also invite representatives of regional organisations and guests to the G20 Summit. The German Presidency has invited Norway, the Netherlands and Singapore as partner countries to the G20 process, as well as the African Union (AU), represented by Guinea, the Asia‑Pacific Economic Cooperation (APEC), represented by Vietnam, and the New Partnership for Africas Development (NEPAD), represented by Senegal.
Which topics does the G20 address and what are its most important issues?
The G20 heads of state and government traditionally focus on issues concerning global economic growth, international trade and financial market regulation. They endeavour in particular to strengthen the global financial system and to improve the supervision and regulation of financial market participants, including what is known as the shadow banking system. The aim is to ensure that no financial market, financial market participant or financial product remains unsupervised. Taxpayers should not have to foot the bill again for bailing out financial market participants. Germany in particular has been pushing for measures to tackle harmful tax competition between countries and to combat the aggressive tax policies adopted by international firms, and not just since the publication of the Panama Papers. To this end, the G20 has adopted a package of measures, which is now being implemented.
Furthermore, the G20 constantly addresses ways to achieve strong, sustainable and balanced global economic growth and to boost employment. Since the first G20 summit in Washington DC in 2008, trade has also been an item on the G20s permanent agenda, as growth and employment are dependent on free global trade. The G20 therefore regularly sends clear messages against protectionism and in favour of fair terms of competition.
Other issues of global significance are often closely linked to economic questions. Examples include climate change, development policy, labour market and employment policy, the spread of digital technology and, currently, refugee policy issues and counter-terrorism. That is why ministerial meetings are held in addition to the summit at the invitation of the respective host country.
And what can we expect?
Germany's Merkel says many 'thorny issues' at G20
Trump and Merkel will meet for their third time on Thursday, a day ahead of the two-day summit in Hamburg that is expected to highlight deep transatlantic differences over open trade, defense spending, migration and climate change.
Read more here: http://www.dw.com/en/germanys-merkel-says-many-thorny-issues-at-g20/a-39531671
Are you ready, GAF? Cause G20 is almost here!