About G20

What is G20?

G20 stands for the Group of 20 largest economies. Finance ministers, heads of state, and governors of central banks are sent from 19 countries (the European Union is the twentieth member) to an annual conference. At these conference the parties discuss and develop global economic policy.

Who is involved?

Member states are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, The Republic of Korea, Turkey, United Kingdom, United Stated of America. The EU is collectively the 20th member. The International Monetary Fund (IMF) and the World Bank are also represented, among other invited organisations.

What are its goals?

Neo-liberalism is an ideology that guides many of the G20’s decisions. It became the dominant approach to organising the economy in the 1980’s, and argues that by allowing capital (by which we mean accumulated material wealth an the means of producing it) to move globally, a wealthier and more productive society will emerge. However, neo-liberal policies lead to increased corporate control, and to increased levels of inequality between the rich an the poor – both locally and internationally. Neo-liberal policies include cuts to social services and support, a reduction of tariffs, and the privatisation of the public sector – including health care, education, social services and environmental protection.

What does it do?

The G20 has no permanent staff or administration infrastructure and does not commit member nations to binding agreements, the groups decisions have enormous influence on global economic policy. From tariff rates to labour laws and pollution controls, G20 decisions affect the government policies and international treaties that affect us all.

Why should we fight them?

  1. The G20 is fundamentally undemocratic: elite technocrats from a tiny minority of the worlds nations make decisions under a veil of secrecy which ultimately affects us all. The global community has virtually no input or oversight on the process.
  2. The G20 fosters poverty, perpetuates the colonial model of extracting the material and human wealth of poor countries for the benefit of rich nations, and seeks to undermine the hard-won rights of workers everywhere.
  3. The G20’s policies are killing our planet, by impeding quick action on climate change, promoting deregulation, and prioritising economic growth over human welfare and environmental stability.

BE BOLD, BE CAREFUL

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