ಬುಧವಾರ, ಜನವರಿ 16, 2019

Argentina 2018: “Building Consensus for Fair and Sustainable Development

Argentina 2018: “Building Consensus for Fair and Sustainable Development


With the global issues like the global economy, future of labor markets, gender equality, macroeconomic policy, the digital economy, reform of the World Trade Organization, financial regulation, taxation, and trade issues, the G-20 Summit 2018 was held from 30 November 2018 to 1 December 2018 in Buenos Aires, Argentina. 


It was the first G20 summit to be hosted in South America. The theme of the G20 summit is 'Building Consensus for a Fair and Sustainable Development.'


President of Argentina, Mauricio Macri, officially hosted the ceremony at the Kirchner Cultural Centre in Buenos Aires.  Argentina was the host country for one-year from 30 November 2017. The first G20 meeting of the Argentina Presidency began in Bariloche on December 2017. During the time of Argentina hosted 45 meetings at various government levels and areas in 11 different cities throughout the country.


Participated Leaders in G20 Buenos Aires Summit 2018:


Country

Leaders

Argentina

Mauricio Macri, President

Australia

Scott Morrison, Prime Minister

Brazil

Michel Temer, President

Canada

Justin Trudeau, Prime Minister

China

Xi Jinping, President

France

Emmanuel Macron, President

Germany

Angela Merkel, Chancellor

India

Narendra Modi, Prime Minister

Indonesia

Jusuf Kalla, Vice President

Italy

Giuseppe Conte, Prime Minister

Japan

Shinzo Abe, Prime Minister

Mexico

Enrique Pena Nieto, President

Russia

Vladimir Putin, President

Saudi Arabia

Mohammad bin Salman, Crown Prince

South Africa

Cyril Ramaphosa, President

South Korea

Moon Jae-in, President

Turkey

Recep Tayyip Erdogan, President

United Kingdom

Theresa May, Prime Minister

United States

Donald Trump, President

European Union

Donald Tusk, President of the European Council

European Union

Jean-Claude Juncker, President of the European Commission

Guest Countries in G20 Buenos Aires Summit 2018:




Country

Leaders

Chile

Sebastian Penera, President

Jamaica

Andrew Holness, Prime Minister

Netherlands

Mark Rutte, Prime Minister

Rwanda

Paul Kagame, President

Senegal

Macky Sall, President

Singapore

Lee Hsien Loong, Prime Minister

Spain

Pedro Sanchez, Prime Minister

Key Points of G20 Summit:


Climate Change- G20 signatories to the Paris Agreement on climate change except the US promised the full implementation of the pact and call for a more ambitious target of reducing warming to 1.5 degrees Celsius above the pre-industrial levels.


Trade- According to the Group of Twenty the multilateral trade was falling short of its objectives on encouraging growth and job opportunities. The next year summit in Japan will focus on World Trade Organisation to improve its functioning.


IMF- For global security of the IMF, G20 promises to provide sufficient funds to meet the goal of finalizing the new national quota on time for the 2019 meetings.


Corruption- The G20 nation is committed to preventing corruption, fighting it and eliminating it. All the nations have promised to take action on this issue as soon as possible.


Gender inequality- The G20 nation is committed to reducing the gender gap in the labor force by 25 percent by 2025. It encourages the education of girls.


Agenda of G20 Buenos Aires Summit 2018:


The future of work, infrastructure for development and a sustainable food future


Regulation on Crypto-currencies


Resolving the escalating 2018 China-United States trade war


Pressure on the employment, welfare, and education


Need to embrace the opportunities and address the challenges presented by technology


Agreements as the outcome of the Summit:


United States-Mexico-Canada Agreement (USMCA)- The USMCA was signed by the representatives of United States, Mexico, Canada- US President Donald Trump, Mexican President Enrique Pena Nieto, and Canadian Prime Minister Justin Trudeau on 30 November 2018. It gives the US more access to Canada’s $19 billion dairy market, enhances the environment and labor regulations, encourages more domestic manufacture of cars and trucks, and initiates updated intellectual property protections. This agreement was the successor treaty to the 1994 North American Free Trade Agreement (NAFTA).


About G-20 (Group of Twenty)


G20 or Group of Twenty is a mix of the world’s major economies that seeks to develop global strategies.


It is made up of 19 counties and the European Union.


Formation: 26 September 1999 (the outcome of a meeting of G7 finance minister and Central Bank Governors)


Objective: Discuss policy pertaining to the promotion of International financial stability


Members: 20 Members (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, European Union)


Global Impact:


Global Economic Output- 85%


World Population-66%


International Trade- 75%


Global Investment- 80%


First Summit: The first summit was held in Washington, D.C. in 2008 as a response to the financial crisis of 2007-2008.  Further summits are as follows:


2009- United States


2009- United Kingdom


2010- Canada


2010- Republic of Korea


2011- France


2012- Mexico


2013- Russia


2014- Australia


2015- Turkey


2016- China


2017- Germany


Engagement groups:


Business (B20)


Civil Society (C20)


Labour (L20)


Think Tanks (T20)


Youth (Y20)


G-20 Summit 2019


Host Nation - Japan




The 2019 G-20 Summit will be held in Osaka, Japan on 28-29 June. The summit will continue to contribute to the growth and stability of the world economy, and continue to address diverse global challenges.


G20 Summit 2022


Host Nation - India




India will host the G20 summit in the year 2022 in New Delhi on the occasion of its 75th year of Independence. Prime Minister Narendra Modi announced it during the ongoing meeting of G20 summit 2018 in Argentina.


During the G-20 summit in Argentina, PM Modi had requested Italy if it can host the summit in 2021 and allow India to host G-20 countries for the annual summit in 2022. They accepted our request, others accepted it too,".


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Thanks


Team Gradeup                            


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