G-20
The G-20, short for the Group of Twenty, stands as a powerful and influential assembly of the world’s largest economies, a global stage where nations converge to address pressing economic and financial challenges.The Group owes its origin to the Financial Crisis in 1997-98 of the Asian Tigers (countries of east and south-east Asia) which caused its establishment in 1999.This elite forum has evolved into a powerhouse for international cooperation, comprising 19 individual countries and the European Union. With its diverse membership and far-reaching impact, the group has become a linchpin of global governance, shaping policies that resonate far beyond its member states’ borders.
Elevation to Leader’s Level-
Elevation to Leader’s Level: After the 2008 global financial crisis, it was upgraded to the level of Heads of State or Government when it became clear that crisis coordination would be possible only at the highest political level.
- In 2009, it was declared as the “premier forum for international economic cooperation”.
- The G20 Leaders have met on a regular basis since then, and the G20 has emerged as the leading platform for global economic cooperation.
G20 Countries List-
It comprises 19 countries, namely Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkiye, the United Kingdom, the United States and the European Union.
- These members account for around 85% of the world GDP, 75% of the total international trade, and two-thirds of the global population.
- In addition to these member countries, the G20 each year invites guest countries and international organisations such as the United Nations, World Bank, IMF, OECD, ASEAN, etc., to participate in its meetings.
What Is G-21?
In a groundbreaking global development, the G20 Summit is on the cusp of a historic transformation, evolving into the G21, thanks to a visionary proposal put forth by India. This monumental shift underscores a growing awareness of the imperative need to embrace the global south in international forums.
The African Union (AU), a formidable entity comprising 55 diverse member nations, is poised to join the league of the world’s 20 largest economies in the coming week. Indian Prime Minister Narendra Modi has been a driving force behind this transformative step, passionately highlighting the fundamental truth that any comprehensive plan for our planet’s future must prioritize inclusivity and the recognition of every voice on the global stage.
Yet, amidst the excitement of this transformation, there are voices within the AU raising questions about the real impact of joining the G-20 and forming G-21 . A prominent African diplomat highlights the vastness of Africa, with its myriad challenges, economies, and communities. In this context, doubts are cast on whether G20 inclusion will effectively address the unique concerns of the Union.
African Union’s Complexities
One significant challenge lies in the lack of political cohesion among AU member countries. They face a multitude of unique issues, some stemming from internal conflicts, while others arise from regional disputes. For instance, Sudan is grappling with a military conflict displacing millions, Rwanda faces political constraints with opposition members imprisoned, and Morocco and Algeria remain embroiled in a territorial dispute over Western Sahara. These internal dynamics underscore the need to carefully navigate the intricacies of the AU’s composition.
Senegal, the current holder of the AU presidency, played a pivotal role in expressing the Union’s desire to join the G20. The formal decision to pursue G20 membership was ratified during the AU Summit in February 2023.
However, questions have arisen regarding the inclusion of two AU member countries, Somaliland and the Sahraoui Arab Democratic Republic (SADR), as neither of these entities is recognized by the United Nations. India also does not acknowledge the SADR. We need to see how the G-20 summit turns out to be but the G-20’s path must involve inclusivity, cooperation, and tackling global challenges to create a better world.
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