G 20 in News because India host first G 20 summit



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**Understanding the G20: A Global Economic Forum**

The G20, short for the Group of Twenty, has emerged as a crucial platform for global economic cooperation and policy coordination since its inception in 1999. Comprising 19 countries and the European Union, the G20 brings together the world's major advanced and emerging economies.

Originally established in response to the Asian financial crisis, the G20's mandate expanded to encompass broader economic issues, including financial regulation, international trade, sustainable development, and climate change. Its members collectively represent around 85% of global GDP and two-thirds of the world's population, making it a significant force in shaping global economic policy.

One of the key features of the G20 is its informal nature, allowing leaders and policymakers to engage in frank and open discussions on pressing economic challenges. Unlike formal international institutions such as the United Nations or the World Bank, the G20 operates without a permanent secretariat, relying instead on rotating presidencies and ad-hoc working groups to drive its agenda forward.

Over the years, the G20 has tackled a wide range of issues, from financial market stability in the wake of the 2008 global financial crisis to the ongoing challenges posed by the COVID-19 pandemic. Its annual summits serve as opportunities for leaders to forge consensus on shared priorities and commitments, often resulting in joint declarations and action plans.

Despite its informal structure, the G20 plays a crucial role in global economic governance, serving as a forum for dialogue and cooperation among the world's major economies. While its effectiveness can vary depending on the political dynamics among its members, the G20 remains an indispensable platform for addressing the complex and interconnected challenges facing the global economy in the 21st century.

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