Changes

The inaugural meeting of the G-20 took place in Berlin, on 15–16 December 1999, hosted by the German and Canadian finance ministers. It was created in response to the financial crises which occurred towards the end of the 1990s. In addition, it offered a platform for the largest emerging-market economies, which had previously been excluded from forums such as the Group of Eight [[G-8]].

The inaugural meeting of the G-20 took place in Berlin, on 15–16 December 1999, hosted by the German and Canadian finance ministers. It was created in response to the financial crises which occurred towards the end of the 1990s. In addition, it offered a platform for the largest emerging-market economies, which had previously been excluded from forums such as the Group of Eight [[G-8]].

The G-20 announced in Sept. 2009 that it will become the permanent council for international economic cooperation, eclipsing the Group of Eight.  

The G-20 announced in Sept. 2009 that it will become the permanent council for international economic cooperation, eclipsing the Group of Eight.

 

==World economic reform mapped==

==World economic reform mapped==

The G-20 in 2009 agreed to a far-reaching effort to revamp the economic system and impose much tighter regulation over financial institutions, complex financial instruments and executive pay. The new policies, if implemented, could lead to major changes and more outside scrutiny over the economic strategies of individual countries, including the United States.<ref>Edmund L. Andrews, "Group of 20 Agrees on Far-Reaching Economic Plan," [http://www.nytimes.com/2009/09/26/world/26summit.html?th&emc=th ''New York Times'' Sept. 25, 2009]</ref>

The G-20 in 2009 agreed to a far-reaching effort to revamp the economic system and impose much tighter regulation over financial institutions, complex financial instruments and executive pay. The new policies, if implemented, could lead to major changes and more outside scrutiny over the economic strategies of individual countries, including the United States.<ref>Edmund L. Andrews, "Group of 20 Agrees on Far-Reaching Economic Plan," [http://www.nytimes.com/2009/09/26/world/26summit.html?th&emc=th ''New York Times'' Sept. 25, 2009]</ref>

The United States will be expected to increase its savings rate, reduce its trade deficit and address its huge budget deficit. Countries like China, Japan and Germany will be expected to reduce their dependence on exports by promoting more consumer spending and investment at home.

The United States will be expected to increase its savings rate, reduce its trade deficit and address its huge budget deficit. Countries like China, Japan and Germany will be expected to reduce their dependence on exports by promoting more consumer spending and investment at home.

==Membership==

==Membership==

===Member countries===

===Member countries===

[[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, and the [[European Union]].

[[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, and the [[European Union]].

==See also==

==See also==

*[[G-8]]

*[[G-8]]

==External links==

==External links==

*[http://www.g20.org/index.aspx G-20 Homepage for UK 2009]

*[http://www.g20.org/index.aspx G-20 Homepage for UK 2009]

 

[[Category:International Political Organizations]]

[[Category:Political Organizations]]

[[Category:International Relations]]