Established on December 16,1999 in Berlin
G20 consists of 19 individual countries,
namely,Argentina,Australia,Brazil,Canada,
China,France,Germany,India,Indonesia,Italy,
Japan,SouthKorea,Mexico,Russia,SaudiArabia,
South Africa,Turkey,the United Kingdom,
the United States,along with the European Union (EU).
It is,in essence,an international economic cooperation
forum with informal dialogue mechanisms
under the Bretton Woods System.
The 2016 G20 Summit will be held in Hangzhou,China.This summit is a significant one,for it will be the first ever G20 Summit to be held in China.
The previous summits have played important roles in promoting international financial stability,boosting world economic development,and strengthening multilateral cooperation etc.
In 2008 The first G20 Leaders'Summit was in Washington D. C. , United States. In the context of the 2008 financial crisis, the summit reached Washington Declaration, which included 5 key objectives that the leaders had agreed upon. The declaration encouraged all countries to work together to reform their financial markets.
In 2011 The G20 leaders reached agreements on how to resolve the Eurozone crisis, help grow the world economy,strengthen financial regulation, and enhance social security etc. As a result,this summit had great impact on promoting the global financial stability,increasing international trade transparency, and easing employment pressure.
In 2014 The 2014 G20 Brisbane Summit put forward approaches to reforming financial markets, eliminating defects of global financial system and optimizing financial structure. In the same year, the BRICS founded New Development Bank, the first international financial institution that didn't include any developed nations.
This was a complement to the previous global financial system and somehow inspired future G20 summits.
The 2016 G20 Leaders'Summit will be held on September 4-5 in Hangzhou, China. The theme of this summit is “Towards an Innovative, Invigorated, Interconnected and InclusiveWorld Economy”. Leaders from the G20 countries will come together and discussinter national economic cooperation.
What makes the 2016 G20
Hangzhou Summit special?
1. The host city ---- Hangzhou
Hangzhou is not only a historical city that boasts traditional Chinese culture,but also a modern city that leads innovation in Internet economy.It is the headquarter city of Alibaba Group,and home to 1/3 of China's e-commerce companies.
Besides,Hangzhou have also played important roles in many historic diplomatic activities.Therefore,during this summit,Hangzhou will not only show to the world the beautiful Chinese culture,butalso demonstrate the economic achievements of China.
2.Developing countries'participation
This G20 Summit will be the one in which the largest numberof developing countries participate.China has invited the chair of ASEAN(Association of Southeast Asian Nations),the chair of AU (African Union),the chair of Group of 77,as well as some other developing nations to attend this summit.
The 2016 G20 Summit will not just focus on the development of great powers,but that of the whole world.Webelieve that with more developing countries taking part,this summit will be much more diversified,represent more nations and therefore benefit more nations.
3.Outcomes
It's estimated that the 2016 G20 Hangzhou Summit will make almost 30 achievements,making it the most fruitful G20 summit by now.
Since China assumed the chairmanship of G20,it has hosted meetings on trade,energyand employment etc.,and there by has had discussions with delegates from all sectors of society.All these efforts have laid the foundation for the upcoming G20 Leaders'Summit.
The issues that the Hangzhou Summit will cover range from world economic growth to specific trade strategies,from sustainable development to anti-corruption cooperation,and to support for industrialization in Africa and other developing countries etc.
Anyway,the G20 Hangzhou Summit
will tell you anything about
the futureof the world economy!
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The 2016 G20 Hangzhou Summit is on the way.And China is ready for it.We believe this summit will live up to expectations and bring surprises and hope to the world.
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