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Today we will discuss G20 summit in a brief manner.
WHAT IS G20?
G20 is a group of the world’s top 20 largest economies. Formed in 1999, it strives to increase economic (trade) cooperation between the member countries to surge growth and standard of living in these countries. It also holds discussions on cardinal issues of the world economy. India is a pivotal part of the G20. Moreover, holds a position of paramount importance amongst the G20 nations.
TAKEAWAYS OF BRISBANE SUMMIT (15-16 Nov 2014)
- Tony Abbott (Australian PM and chairperson of G20 for this year) exhorted each nation to fast track reforms in order to achieve an increase of 2% in the growth rate of all the G20 economies summed up together. A 2% increase will mean generation of a trillion dollar capital and myriad of jobs.
- President of the USA, Barack Obama tried to pitch up the pro climate rhetoric. He emphasized on how important Asia pacific region is in terms of climate change. He deemed his recent deal with China as historic and urged every country to take a similar pledge to bring a drastic cut in the carbon emissions of the world. He stressed the need for a consensus among nations about global climatic issues.
- The Russian President, Vladimir Putin faced the dissension of the west for his despotic policies. He faced the wrath of several nations for aiding and abetting violence in Ukraine through the pro Russian rebels. However, Putin seemed unfazed by these happenings.
- All the G20 nations vowed to give complete support to fight and annihilate the Ebola epidemic, considered as the deadliest and fatal outbreak of this century.
- Last but not the least, the apple of our eye, PM Narendra Modi propounded couple of things. He affirmed that a common and collaborative effort is the best way to counter the global terrorism. He said the reforms should be technology driven and should be able to change the lives of poor. He reassured the people of India that repatriation (bringing back to the nation) of Black Money from foreign soil is on his agenda.
CRUX:- The change in the central government of India has apparently prompted a change in the world’s attitude towards our country. This G20 summit was a strong indicator of that. People now see India as a reform driven country, which is on the path of unbridled economic growth.
Got little bored?
The reason I touched this subject was to ensure everyone that understanding international happenings is not very difficult. Trust you me, you will not have an interview without the IO quizzing your brain about International relations. So friends instead of parroting “I don’t know sir, I will get back to you sir”, start the journey towards expanding your G.K base.
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JAI HIND
