G20

How do the most powerful economies in the world balance competition with cooperation? What structures are in place to facilitate this work? The Group of 20, or G20 for short, is an international grouping that brings together the biggest players on the global stage, including the world's largest economies and the most populous nations. But does a meeting of the world's most powerful political leaders always result in friendship, unity and coordinated action for the greater good? Let's find out!

G20 meaning

Fig. 1 – G20 Summit in 2019.

The G20 members

The G20 is named for its twenty members - nineteen countries and the European Union. The G20 members account for over 80% of global GDP, 75% of world trade and 60% of the world's population³—statistics show just how influential this group is.

Importantly, the G20 brings together countries that are often in competition with each other - economically or politically - and provides a forum for meetings between countries of the smaller G7 grouping of (mostly) Western nations. For example, the Russian Federation was suspended from what was then the G8 in 2014, formally leaving in 2017. However, Russia remains a member of the broader G20 grouping. Below is a list of all the current members of the G20:

• The EU

• Germany

• Japan

• Italy

• The United Kingdom

• France

• The United States of America

• Canada

• Argentina

• Brazil

• Russia

• China

• Mexico

• Australia

• India

• Saudi Arabia

• Indonesia

• Turkey

• South Korea

• South Africa

The Group can also include other countries in G20 meetings by inviting them as guests. Guests may be re-invited, making them semi-permanent members of the G20. Spain is not a member of the G20 but is permanently invited to participate in summits.

The G20 Summit

Officials of the G20 members meet year-round at the ministerial level. The outcome of these meetings is handled in the annual G20 Summit, where leaders deliberate and negotiate solutions to global economic problems.

The G20 created the Leader's Summit in 2008. The last one occurred in Italy in October 2021, when the members released the Rome Declaration.

^{Table 1 – Leaders of the G20.}

Fig. 2 – G20 map distribution.

The G20 presidency

The G20 presidency rotates among the members every year. Indonesia currently holds the presidency, which will host the next Leaders Summit that will take place in November 2022 in Bali.

The slogan of the Indonesian presidency was "recover together, recover stronger" ² and the focus of the last conference was on the following issues:

• Global Health Architecture

• Digital Transformation

• Suitable Energy Transition

The Indonesian G20 Presidency has had to address a series of challenges and economic issues, such as the post-pandemic recovery, climate change and the effect of the Russian invasion of Ukraine.

As it temporarily holds the organisation's presidency, Indonesia will host the next G20 Summit in Bali, one of the most prominent cities on Java Island. Other functions of the presidency account for coordinating the country members and their finance ministers.

The G20 Troika

The Group's continuity is in the hands of the "Troika", a title created to name the temporary presidency member, its predecessor, and its successor. The Troika exists in order to ensure continuity in the G20's agenda. Many of the policies or priorities set out by the G20 can only be addressed over several years and the Troika ensures that the group's focus on particular issues is sustained,

The current Troika countries in the G20 are Italy, Indonesia, and India, which will hold this position for the year.

The Troika, as previously said, are members who have held the presidency—but how is this presidency gained? Well, it is in no way democratic but has already been laid out since the Group's formation.

At the start of the G20's existence, the founders agreed on a rota-like system, with the members listed in order, so they could all take turns holding the Group's presidency. For example, looking at the current Troika, Italy was before Indonesia in the order, and India will come after them both.

Looking at the current Troika of the Group, Italy came before Indonesia, and India followed Indonesia, who will next take up the presidency, and so on.