My sister asked me a question, and this was the first time in a while that I couldn’t answer it.
The G20 Leader’s Summit just took place last week. She asked me why so many people were protesting it and what the G20 was all about.
I was tempted to just fluff my way through an answer, but it didn’t seem fair.
What is the G20? Who is represented? Why do people always protest their summits?
Keep reading this article to see the video, transcript and further sources.
Interesting tidbits in the post include: What are the other G-## organizations? One country named in the video is actually richer than some G20 nations. There is one more country richer than the poorest G20 nation. Can you name it?
http://www.youtube.com/watch?v=qFaKvW-TAXo
What are the other G-## organizations?
A short list includes: the G7, G8, G8+5, G77. There are also the now superseded G22 and G33. To learn more about these check out this Wikipedia link, then scroll to the end of the page.
Oh! Don’t forget about the G20 developing nations.
Which country is richer than the poorest G20 nation?
As of 2007, Thailand is richer than South Africa, according to World Bank statistics by Purchasing Power Parity (like the GDP).
Transcript
Hello CultureCats, this is Joshua Hwang keeping it all about the Benjamins with another 90 Seconds to Culture videocast.
G-20: Way richer than G-Unit
What is the G-20? And why do so many people protest every G20 conference?
The G20 is a group representing 20 of the largest economies in the world. The group consists of those who control the money: finance ministers and central bank governors.
The G20 is technically NOT the 20 richest countries, but instead 19 very rich countries, including, the USA, China, Canada, and many more, PLUS the European Union. For political reasons, Iran is not represented, while having a comparable economy to other G20 nations. Also, the members of the G20 do not change and have never changed.
But what is this group doing?
Generally, because they represent so much of the world’s economy, they discuss the international finance system, working together and between countries to bring financial growth. These days, their focus is on the current global financial instability, and fixing the world banking system.
With such noble goals, why do so many people protest the G20 and G8 summits.
Although there are a variety of groups and many more protesters, the main misgivings are as follows:
Firstly, war; people know those who control money, control power and defense (or offense). Many are protesting the continued Iraq and Afghanistan Wars.
Secondly, climate change. Protesters wish to see new policies that promote environmentally-sustainable/-friendly economies.
Thirdly, global poverty and inequality. Many want governments to address the needs of the poor and those who do not have equal rights in the work place.
Boom that’s G-20.
There’s a G8 and a G20 what are some other G numbered groups?
There’s another country richer than the poorest of the g20 economies, which is it?
To find out check out 90 seconds to culture.com for this and more videos.
Sources / Further Reading:
Wikipedia: G-20 Major Economies
Wikipedia: 2009 G-20 London Summit - An important note, though the G20 consists of finance ministers and central bank governors, this London meeting was a gathering of world leaders (presidents, prime ministers, etc.)
Wikipedia: List of countries by GDP (PPP)
G-20: FAQ
(image by Rusty Stewart)
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