Changes

The '''Group of Twenty Finance Ministers and Central Bank Governors''' (also known as the '''"G-20"''') is an international forum that promotes discussion and offers policy suggestions among the nations having the 20 largest economies, supposedly with the goal of promoting global economic stability and growth.  Its recommendations are not binding.

The '''Group of Twenty Finance Ministers and Central Bank Governors''' (also known as the '''"G-20"''') is an international forum that promotes discussion and offers policy suggestions among the nations having the 20 largest economies, supposedly with the goal of promoting global economic stability and growth.  Its recommendations are not binding.

The first meeting of the G-20 attended by the [[Trump Administration]] wrapped up its discussions on March 18, 2017, in Baden-Baden, [[Germany]]. Trump's representative, Treasury Secretary Steven Mnuchin, rejected a proposed joint statement promoting so-called [[free trade]].

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 United States and the [[European Union]]'s egregious use of sanctions against [[Russia]] and [[China]] has fractured the foundation of the G20 and created a growing movement among the largest countries (in terms of population) who no longer are willing to submit to the U.S. using the [[Petrodollar]] system to punish them.

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

During the [[Financial Crisis of 2008]], the G-20 announced in Sept. 2009 that it will become the permanent council for international economic cooperation, eclipsing the [[G8]] that didn't have financial resources to bail itself out.

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," [https://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," [https://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==

There have also been two heads-of-government meetings of the G-20, in November 2008 and April 2009.

There have also been two heads-of-government meetings of the G-20, in November 2008 and April 2009.

 

*[[Argentina]], under [[Alberto Fernández]]

*[[Argentina]],  

*[[Australia]], under [[Scott Morrison]]

*[[Australia]],  

*[[Brazil]], under [[Jair Bolsonaro]]

*[[Brazil]],

*[[Canada]], under [[Justin Trudeau]]

*[[Canada]],  

*[[China]], under [[Xi Jinping]]

*[[China]],  

*[[France]], under [[Emmanuel Macron]]

*[[France]],  

*[[Germany]], under [[Angela Merkel]]

*[[Germany]],

*[[India]], under [[Narendra Modi]]

*[[India]],  

*[[Indonesia]], under [[Joko Widodo]]

*[[Indonesia]],

*[[Italy]], under [[Giuseppe Conte]]

*[[Italy]],  

*[[Japan]], under [[Yoshihide Suga]]

*[[Japan]],  

*[[Mexico]], under [[Andrés Manuel López Obrador]]

*[[Mexico]],

*[[Russia]], under [[Vladimir Putin]]

*[[Russia]],  

*[[Saudi Arabia]], under [[Salman bin Abdulaziz Al Saud]]

*[[Saudi Arabia]],  

*[[South Africa]], under [[Cyril Ramaphosa]]

*[[South Africa]],  

*[[South Korea]], under [[Moon Jae-in]]

*[[South Korea]],  

*[[Turkey]], under [[Recep Tayyip Erdoğan]]

*[[Turkey]],  

*[[United Kingdom]], under [[Boris Johnson]]

*[[United Kingdom]],

*[[United States]], under [[Donald Trump]]

*[[United States]],  

*[[European Union]], under [[Charles Michel]] and [[Ursula von der Leyen]]

*[[European Union]],  

*[[African Union]]

==See also==

==See also==

[[Category:International Political Organizations]]

[[Category:International Political Organizations]]