G20 Osaka summit: All you need to know
chinadaily.com.cn |
Updated: 2019-06-28 07:33
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Why does the G20 matter?
Together, the nations of the G20 account for around 80 percent of global economic output, nearly 75 percent of all global trade, and about two-thirds of the world's population.
The G20 was formed in 1999, in the wake of the Asian financial crisis, to unite finance ministers and central bankers from twenty of the world's largest established and emerging economies. A decade later, at the height of the global economic crisis, the G20 was elevated to include heads of state and government.
