The leaders of the world’s major countries are meeting this week in Rio de Janeiro, Brazil, on the occasion of the G-20 summitThe world’s leading economies will have a forum where they will discuss at length, both bilaterally and multilaterally, the current world situation and discuss the adoption of new global agreements: in the case of this summit, the following is on the table implementation of a global tax on large fortunes..
Established in 1999, the G-20 was founded as a forum of economic, political and financial policymakers from all over the world, with the objective of coordinating the growth, crisis management and system control strategies. in a globalized and interconnected world.
The G-20 member states group together the 90% of the world’s GDPthe 80% of global trade y two-thirds of the world’s population. Although its influence and capacity have been called into question on numerous occasions, it is still considered a key forum for world governance and the global economy.
Which countries are part of the G-20
Member states are the main (but not the only) actor in the G-20 summits. The international forum is composed of 19 states and one supranational organization:
- Germany
- Canada
- United States
- France
- United Kingdom
- Italy
- Japan
- Russia
- Saudi Arabia
- Argentina
- Australia
- Brazil
- China
- South Korea
- India
- Indonesia
- Mexico
- South Africa
- Turkey
- European Union
The European Union, as a supranational organization, takes part in the G20 forums on behalf of all member states and as a political actor.
In addition, other political and economic institutions are part of the organization’s summits as associated entities, with a voice in the forum to coordinate policies: this is the case with United Nationsthe International Monetary Fund (IMF), the World Trade Organization (WTO), the African Union or the Organization for Economic Cooperation and Development (OECD), among others.
Why Spain attends the G-20 if it is not a member
Although Spain is not part of the G-20 membership, and beyond its representation through the European Union, it occupies the permanent guest status. Spain attended a G-20 summit for the first time in 2008, in Washington, D.C.
At that time, President José Luis Rodríguez Zapatero lobbied to be includedSpain was at that time the eighth largest economy in the world according to GDP levels. The influence of the EU and France were decisive for the Spanish seat in the international forum.
Since then, it has been consolidating its role within the group, taking part in ordinary and extraordinary summits, and assuming economic and political commitments equivalent to those of the Member States, and it is therefore considered a de facto member of the forumalthough with the status of permanent guest. It is the only country with this status within the organization.
An international forum for discussion on the global agenda
The G-20, far from being an international organization like the UN, where there is an assembly and decisions are taken that can be binding, functions as a forum in which different political and economic actors adopt commitments and coordinate responses. It serves as a discussion table on different issues that require coordinated responses at the international level: financial crises, climate change, conflicts between states…
The main objectives of the G-20 talks are to establish measures that will favor the stability and the growth of the world economy and respond to global challenges of any nature.