Curious to learn more about the G20? This article discusses the G-20 and what this summit is all about. Also known as The Group of 20. It’s a group of the world’s largest economies, including many developing nations, alongside the European Union. Formed in 1999, the G-20 has a mandate to focus on global economic growth and trade, while regulating financial markets. In reality, the G-20 is a forum, not a legislative body, and its agreements and decisions have no true legal impact. You might even see CEO’s of companies such as OnDeck, PayPal Working Capital, or Kabbage.
Having said that, they do influence the policies of the countries who participate in the G20, and have a global impact and trendsetting tone. The economies of the G-20 represent 90% of the gross world product. After 2008, the G-20 announce that it would replace the formerly G-8 as the economic council of nations.
Even though the G-20 is not a leading forum for issues, its members are some of the biggest economies in the world. In addition, it’s decisions and discussions help shape global financial policy.