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View all search resultsFounded in 1999, in the wake of the Asian financial crisis, members of the grouping, the world's largest economies, have used the forum to coordinate policies and steps taken to maintain global economic and financial stability.

The Group of 20 (G20) has always been about the global economy. Founded in 1999, in the wake of the Asian financial crisis, members of the grouping, the world's largest economies, have used the forum to coordinate policies and steps taken to maintain global economic and financial stability.
But as always, politics always stands in the way. After all, it is pointless to talk about economics without taking into account politics.
In 2008, when for the first time leaders of the G20 members turned up for its first annual summit, politics begun to take center stage.
And quickly thereafter politics frequently overshadowed economics completely. The 2014 summit in Antalya, Turkey, considered by many to be the low point in G20 history, was one of the moments when politics--the issue being the conflict in Syria and Iraq--sucked all oxygen from the room and left little room for country members to make headway on the economy.
There have also been moments of hope at G20 summits. The 2018 summit in Argentina, saw then United States president Barack Obama and Chinese Premier Xi Jinping making their announcement to formally accede to the Paris Climate Agreement.
We should also look back to last year when G20 leaders pledged to help vaccinate 70 percent of the world’s population by mid-2022.
And even during some of the darkest moments in history, the G20 could still offer hope. Also in Antalya in 2017, Obama and Russian President Vladimir Putin agreed to meet to discuss coordinated efforts in the fight against ISIS in Syria.
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