Question

i need a history background for G20 in 200 words

Answer 1

The historical back ground of G20. The birth of G20 took place in the year 1999, after the fall down of Asian financial market. It's idea was conceived at the summit of G7 in June 199. Its inaugural meeting took place between 15-16 th December 1999. Initially it was set up to revive and solve the impending financial crisis, and it took participation of 19 countries with European Union. After a decade, again the international economy got a shock, and the then president of USA economy George W bush called all the leaders of the participant countries, to C ordinate with each other. After that the summit is held in every year, though it's venue keeps on changing. It's major objective was to collaborate all industrialised and developing economies to discuss all the relevant topics of global economy. It stands for 80% if the total international trade, it contains 70% of world population. In 2008, there was an announcement that the G20 was going to replace the G8, which was a council of wealthy nations. Though G20 contains and works in different fields, still it's actions are subject to criticisms. (mainly from left wing and anarchist groups).