G-20 or group of twenty countries are group intergovernmental organization comprised of 19 individual countries and the European Union as whole. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union are its members. Its meeting held annual and the hosting of its meeting rotating each year. In 2020 it will be held in Saudi Arabia presdided By salmon bin Abdul Aziz al Saud on November. Countries represented by its head of state while European Union commission Represents European Union.
ITS SIGNIFICANCE
It was created in 1999 with the aim of maintaining economic stabilization and cooperation with developing countries and developed countries. It accounts of 85 percent of world economy and two-third of world population and 80 percent world gross trade. These countries works on maintain peace and conciliation between the countries its Also provide loans to countries facing crises or natural disastrous. Recently, G-20 countries approved $2 billions to Pakistan for mitigating the corona impact in the region. All the members of countries carefully, chosen from each continent and given its economic condition and political situation as well.
ROLE OF USA AND CHINA IN G-20
Since the late 20th century and 21st century trade has been dominated by multilateralism and globalization. No country can survive being isolated. So its good for countries to form groups and alliance with each other to enhance their trade and G-20 members have been doing for so long but now the two super power US and China are currently, into a trade war since the Donald trump administration came into power. Donald trump adopted the policy of protectionism and impose heavy taxes on China on pretext of China devalued its currency to get unfair advantage. China also retaliate after trump heavy imposition of 25 percent tariffs on steel and aluminum. Despite these two countries are de facto leader of G-20 group but their actions are contrary to formation of G-20 which they two claimed as a leader of group.
Pakistan role
Recently, G-20 approved the $2 billions for Pakistan to help her to mitigating the corona virus impact In the region. Although Pakistan is not member of G-20 nor is invitees, Pakistan does gain advantages from G-20 through its time-tested friend, China and Saudi Arabia as they take decisions of Pakistan's behalf whenever it may need.
Recently, G-20 approved the $2 billions for Pakistan to help her to mitigating the corona virus impact In the region. Although Pakistan is not member of G-20 nor is invitees, Pakistan does gain advantages from G-20 through its time-tested friend, China and Saudi Arabia as they take decisions of Pakistan's behalf whenever it may need.
Pakistan couldn't manage to become the member of G-20 because its economy was too weak in 1999 and that time Pakistan have had to host the millions of Afghanis which cause the economic and as well as political destabilization. You may think why not Pakistan apply for membership? Because the G-20 countries don't Allow new countries to become a member.
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