The Group of Twenty, Its Influence and Challenges

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Table of Contents

Introduction
Discussion
Conclusion
Works Cited

Introduction

It is imperative to mention that the role of globalization is an interesting topic that has been actively discussed by scholars. Moreover, the importance of such global forces as the G-20 should not be overlooked because it has an enormous impact on the economy of the world most of the time. It can be described as an international forum that consists of twenty most powerful economies of the world and its members frequently participate in discussions and summits to address issues that are present.

Discussion

It is important to note that it consists of original G8 countries such as the United States, Canada, Germany, Italy, France, Russia, Japan, and the United Kingdom. Additionally, Saudi Arabia, Indonesia, Brazil, China, Argentina, India, the Republic of Korea, Australia, South Africa, Mexico, and Turkey are also official members. The primary objective of this international forum is to address issues related to policies and to promote financial stability all over the globe. Another aspect that needs to be discussed is that it did not intend to become a global organization similar to the UN and has other goals. Open trade is also frequently promoted because it is viewed as an approach that would be incredibly beneficial for most countries. The focus on climate change was also critical, but the priorities of the group have changed over the years, and many think that this approach is questionable (Kim and Suh-Yong 361).

Also, it is paramount to mention that the European Union is also considered a part of the group. It is necessary to understand that these countries produce close to 88 percent of the world’s GDP (Hajnal 19). Moreover, this aspect should not be overlooked because it indicates that the influence of the forum on the economy of the world is tremendous. Also, it is imperative to mention that it has attempted to address some of the most significant issues such as global economic crises and others.

Also, it is necessary to note that the G-20 participates in a broad range of activities. For instance, numerous issues are discussed during summits and members are looking for ways in which they may be resolved. Policies that are suggested are also vital most of the time and quite impactful. Also, it is imperative to understand that different topics are being discussed every single year, but the focus is on economic growth and financial stability most of the time.

Interactions with smaller organizations also should be mentioned. For instance, the 3G, which consists of thirty smaller countries, has been present at the G20 summits (Cooper and Momani 213). Moreover, such aspects as transparency are promoted because these factors have been viewed as especially problematic in the past. Also, another issue that is worth mentioning is that many believe that the current level of interaction with the UN is not acceptable and needs to be addressed (Postel-Vinay 64). It is also interesting that many believed that the G-20 is going to become a replacement on the G-8. However, it is not the case, and two bodies are frequently interacting with each other.

The problem is that numerous issues related to leadership and communication also should be taken into account, and it may not be an easy task to address all of them. The level of trust is also an issue because global leadership is not supported by most. Moreover, it is understandable that the forum wants to reach the maximum possible level of effectiveness, but a certain tension between countries is present. However, it is important to understand that the representation is much higher than in the G-8 because it has been recognized that the perspectives of only eight countries are rather limited, and the needs of growing economies should be taken into account (Cooper 203).

Many think that it can be viewed as an efficient approach if several changes are made. For instance, it is suggested that much more attention should be devoted to regions that are not represented as well because it would help to increase the credibility of the G-20. It is also believed that a focus on long-term goals would be vital. Also, it is imperative to understand that cooperation is necessary to resolve critical global problems, and the G-20 is attempting to build valuable relationships with many organizations all over the world. Furthermore, one of the most significant aspects that need to be discussed is that the strategies and techniques are still being developed, and it is entirely possible that the impact of the forum is going to increase in the future (Cooper and Thakur 18).

Conclusion

In conclusion, it is hard to argue with the influence of the G-20 and its impact should be taken into account. The issue is that many do not agree with policies promoted by the forum, and some of the decisions have led to numerous controversies. Furthermore, the biggest problems that the G-20 has to deal with at the moment are a critic and anti-globalization movements.

Works Cited

Cooper, Andrew F. “The G20 and Its Regional Critics: The Search for Inclusion.” Global Policy 2.2 (2011): 203-209. Print.

Cooper, Andrew F., and Bessma Momani. “Re-balancing the G-20 from Efficiency to Legitimacy: The 3G Coalition and the Practice of Global Governance.” Global Governance: A Review of Multilateralism and International Organizations 20.2 (2014): 213-232. Print.

Cooper, Andrew F., and Ramesh C. Thakur. The Group of Twenty (G20). London, UK: Routledge, 2013. Print.

Hajnal, Peter I. The G20: Evolution, Interrelationships, Documentation. Fanham, UK: Ashgate Publishing, 2014. Print.

Joy, Kim, and Chung Suh-Yong. “The role of the G20 in governing the climate change regime.” International Environmental Agreements: Politics, Law and Economics 12.4 (2012): 361-374. Print.

Postel-Vinay, Karoline. The G20: A New Geopolitical Order. Basingstoke, UK: Palgrave Macmillan, 2013. Print.

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The Group of Twenty, Its Influence and Challenges

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