G-20 and beyond theory, concept, and policy

Group of Twenty (G20) is a global cooperation which was founded during Asia Economic Crisis in 1999 when USA and Canada Finance Ministers invited 20 countries, which are effective in international finance issues. It has a high geo-strategic position, recognizable in their region in terms of population number to Washington in order to discuss ways of tackling with crisis. Today, G20 countries are Argentina, Australia, Brazil, Canada, China, France, the European Union, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and United States of America, and also IMF, OECD and guest country which will be advised by the country holding presidency. The content of this global association which contains both developed and developing countries within itself are in such general terms as follows as coordinating policy at international level, a sustainable globalization, agriculture and food safety, employment and social policies, fight against corruption, provide development at a livable level, energy environment and green growth, the design of the financial sector, investment financing, sustainable and balanced growth, taxes, and trade and investment. Even if the encountered economic crisis introduces G20 as an economic structure, there are some other issues discussed in the platform, such as political, social and environmental subjects. No matter the foundation of G20 is accepted as 1999, 2008 is accepted as the milestone of G20 countries’ cooperation. While the meetings were held with Central Bank Governors and Finance Ministerial level in the beginning, it started to be held at president level after 2008. The G20 Summit, which was held in Washington (USA) in 2008, in London (United Kingdom) in 2009, in Pittsburg (USA) in 2010, in Seoul (South Korea) in 2011, in Los Cabos (Mexico) in 2012, in Petersburg (Russia) in 2013, in Brisbane (Australia) in 2014, in Antalya (Turkey) in 2015, has been held in Hangzhou City of China in 2016. Also, it is planned that Germany will host the Summit in 2017. The prominent issues discussed in the summits are 2008 Washington (2008 crisis), 2009 London (tax and reforms), 2010 Pittsburg (sustainable and balanced growth), 2011 Seoul (financial incentives to reduce the debt and deficit), 2012 Los Cabos (improving the stability of the financial system), 2013 St Petersburg (growth and employment), 2014 Brisbane (geopolitical tensions and their impact on economy), 2015 Antalya (investment, inclusiveness and practices), and finally 2016 Hangzhou (development, trade and climate change).G20 which is on the top of global associations list and founded to get down to global steps because of recent developments encountered widespread in this century will continue to be located at the center of economic, political, social and geopolitical developments that will take place hereupon when the comprehensiveness of the matter in hand considered. However, questioning G20 will not be remitted because of the reality that the decisions made by G20 are advisory. For that reason, the existence of solutions, related to local and largely global issues faced, will put a question mark in the minds.