• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

What is G-20? In the year 1999, a forum called Group of Twenty (G-20) was established, aiming to discuss about the important issues regarding the global economy.

Extracts from this document...

Introduction

What is G-20? In the year 1999, a forum called Group of Twenty (G-20) was established, aiming to discuss about the important issues regarding the global economy. In this group, the finance minister and central bank governors these twenty industrialized or developing countries opens up discussion about topics, such as the markets within the country and things relating to the global economic stability. The first meeting, or the inaugural meeting was held on December 15th and 16th, 1999 in Berlin, hosted by Germany and Canadian minister. Initially, it was created as a responsive action to the global crisis that happened in the late 1990s. Since then, there have been agreements made regarding policies for growth, reducing abuse of the financial system, dealing with transparency of fiscal policies, financial crises and combating terrorists financing. ...read more.

Middle

By means of this evidence, it is proven that even though the G-20 only consists of 20 countries, they are the centre or majority of the world financial activities and population. What is the Benefit for Indonesia and for the World? Indonesia is a country known for the high terrorism activity, such as massive bombing or suicidal bombing. By the help of G-20, Indonesia is able to gain several benefits, such as the decreasing amount of financing for terrorism, which also means a decrease in the amount of terrorist activity. In addition, this country may benefit from the agreements made by the G-20, such as those related to transparency of fiscal, tax evasion and money laundering. The benefits for Indonesia could be felt in a direct impact, because all the problems that the G-20 are trying to resolve all happens in Indonesia. ...read more.

Conclusion

Moreover, the agreements made by the members of the G-20 may also help to decrease scams, like money laundering, terrorism financing and tax evasion. As the amount of these problems decrease, each country is able to gain more from their tax and fiscal, allowing them to support their citizens in better ways. List of Members GDP per person ($) Argentina 9,843.33 -->14th Australia 50,053.16 --> Highest GDP Brazil 8,168.57 -->15th Canada 46,799.36 -->4th China 3,576.69 -->17th France 48,293.08 --> 2nd Germany 45,999.09 -->5th India 1,122.19 --> Lowest GDP Indonesia 2,393.20 -->18th Italy 40,297.96 -->7th Japan 37,644.48 -->8th Mexico 20,954.72 -->10th Russia 11,102.91 -->12th Saudi Arabia 14,688.46 -->11th South Africa 22,291.33 -->9th South Korea 6,647.80 -->16th Turkey 11,193.98 -->13th United Kingdom 44,719.53 -->6th United States of America 47,335.21 -->3rd From http://www.imf.org/external/pubs/ft/weo/2008/02/weodata/index.aspx ?? ?? ?? ?? Ryanica - 12H ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. What is the impact of the Notional Interest Tax Deduction system on investments in ...

    Company A will be financed only by debt and Company B will be financed with its own resources.

  2. free-market economy and central planned economy.

    In 1989, Poland became the first member of the former Soviet bloc to re-establish political democracy and a market economy. The fledgling government was faced with a stagnant economy, inflationary pressure, a large external debt, and market inefficiencies. Gross domestic product (GDP)

  1. The luxembourg Economy (Complete Review)

    This turmoil lead to unemployment rising from 4.2% in late 2007 to a staggering 8% in mid 2009. As a measure to increase supply of labour into the nation, the Luxembourg government has implemented a policy encouraging cross border workers to work in the domestic market.

  2. Vacation In Australia

    In the case of Colombia for this to occur we have to consider the % of change in price. For example if the price is going to rise by 20% in two months, demand in these two months is going to increase because in two months many people could not

  1. Unemployment rate in Japan reaches 9- year low. Discuss.

    At each stage of the cycle, the extra spending becomes lesser and lesser due to leakages such as taxes and spending on imports, however, finally, this initial increase in the spending leads to a bigger increase in the national income.

  2. Economics commentary. This article is about the performance of Germanys economy in the coming ...

    In conclusion, Germany?s economy needs improvement on its economic growth and it is wise to achieve this by diversifying the market. Although it will take time and effort, it tackles the main problem of decreased exports and it is more sustainable than expansionary policy due to lesser cost and resources put in by the government.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work