During November, some of the world’s “movers and shakers” will meet in an effort to get the global economy moving and to keep it from shaking. This high-powered gathering is the semiannual summit of the Group of 20 finance ministers and central bank governors—the G20, for short. The meeting will take place in Seoul, South Korea, November 11–12. The G20’s membership convenes regularly to discuss issues related to international trade and finance. Their goal is global economic stability—and the task is bigger than any one country’s ability to achieve.
The G20 was established in 1999 to bring together leaders from both advanced and emerging economies. The members of the G20 are Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, and the United States. These 20 economies represent 80 percent of the world’s trade and two-thirds of its population. Some other countries and regional organizations receive invitations to attend the summits as observers.
G20 meetings in the past have been disrupted by demonstrations or threatened by terrorism. Because of this, security will be very tight. In order to restrict access, the summit will be held on three artificial islands that have been built in Seoul’s Han River. The cost of preparing the site for the summit is almost $86 million.
The recession that has slowed the U.S. economy has also had a global impact. So, among the topics on this year’s agenda are how to ensure a global economic recovery and how to strengthen international financial regulations.
Related Links
- Welcome from the Republic of Korea
This Web site for the 2010 Group of 20 summit is sponsored by the government of South Korea.
(Source: Presidential Committee for G-20 Summit; accessed October 31, 2010) - G20 Seoul Summit 2010
The official Seoul Summit Web site provides tourist information and insight into Korean culture, along with resources about the global gathering.
(Source: 2010 G20 Seoul Summit; accessed October 31, 2010) - G20
This Web site features videos highlighting different aspects of the summit and links to other articles on the issues it will face.
(Source: guardian.co.uk; accessed October 31, 2010) - G20: The World Is Watching
This Web site collects various articles from the world media on the upcoming summit and the G20’s recent history.
(Source: Inter Press Service News Agency; accessed October 31, 2010)