What is G20 Summit and it's Purpose?
Hello Friends,
Here I am Lucia again trying to find a good and virtuous topic to inscribe and share on my blog.
So the topic for today is "G20 Summit".
The leaders of the Second World War have held several summits and ongoing institutions to solve the problems facing the future of world peace and stability. Much of this has to do with trade and finance, and in recent years, the G20 was established in 2008, mainly because of the key role played by the United States and Germany to achieve it. Economic policy is, therefore, a priority on the agenda and the bodies that intervene in it are the main protagonists.
It became the highest level of a leader after Paul Martin, the Canadian foreign minister and future prime minister, proposed that it be so. He was the main architect of the meeting as finance minister in the first instance.
It is mainly a response to the debt crisis of the 1990s that began in Mexico and was followed by the Asian debt crisis of 1997. The economic collapse of Russia and then the impact on the United States. This was what stood out most was the collapse of the hedge fund, Long-Term Capital Management, in 1998.
With the rapid globalization of recent years, the G7 and the G8, together with the Bretton Woods system, could not generate financial stability. The global financial crisis of 2007-2010 has taken the issue even more to the urgency.
With so much at stake, this last summit was of vital importance to design strategies to avoid the collapse of the economy. With the situation in almost all countries reaching another critical phase and the highest unemployment in many of them, the riots will grow unless something changes.
With so much at stake, one wonders why President Trump, the elected head of government in the United States, decided to leave the meeting while the head of the World Bank gave his address. Taking his place at the table and sitting among the leaders was Ivanka Trump.
The question is whether Trump can be a team player in something as important as this or if it is so distant from reality that it does not stop him. Their attitude is certainly very different from that of their predecessors, who fought hard to get this summit and use it to benefit the world. Without strong support from the US UU., The next financial crisis can be a disaster greater than any other.
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Bye for now, Take care...
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