Post by account_disabled on Mar 5, 2024 19:12:31 GMT 10
Bank failure, decrease in consumption, company bankruptcy and an economic slowdown is what brought the Great Depression to Mexico almost 90 years ago.
This situation was derived from economic problems and implementation of government policies in the US economic and financial sector, which ended up affecting Mexico and a large number of countries, as a consequence of their financial interdependence.
This served as a lesson to take measures to avoid a similar case, and this is how the G20 was born in 2008.
The Group of Twenty (G20)
The G20 is the main forum for Chile Mobile Number List coordinating macroeconomic policies between the 20 most important economies in the world, which includes the perspectives of both developed countries and emerging economies.
It is considered a crucial summit to avoid another possible economic depression and is made up of the most powerful countries that represent 85% of the world economy.
The leaders that make up it intend to reach an agreement to coordinate joint action aimed at cutting interest rates and increasing public spending by governments , as well as strengthening international regulation of banks and other financial institutions. It's conformed:
Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia, South Africa, Turkey and the European Union.
These countries have a common goal:
Be a regulatory change with sufficient legitimacy to achieve acceptance by all countries. The G20 is an ideal forum because it brings together the main economies and can be a catalyst for the reforms that the IMF, the World Bank and other institutions will adopt.
Federico Steinberg, economist at the Elcano Royal Institute in Madrid.
The G20 recently made a statement when meeting for the second time under the Saudi Presidency.
The statement from Riyadh, Saudi Arabia of the G20
Faced with the health emergency that we are going through and that has impacted the entire 2020 globally, the G20 has made some courageous statements, affirming its commitment:
We are united in our conviction that coordinated global action, solidarity, and multilateral cooperation are necessary today more than ever to overcome current challenges and guarantee the opportunities of the 21st century for all, by empowering people, safeguarding the planet and the configuration of new frontiers.
We are committed to leading the world to build a strong, sustainable, balanced and inclusive post-COVID-19 era.
G20.
In their statement, they highlight 10 fundamental points that should not be left aside. We share them with you below.
10 key points from the G20 Leaders Summit declaration
The declaration is initially made up of four sections:
A) Addressing the challenge together.
B) Building a resilient and lasting recovery.
C) Ensuring an inclusive recovery that reduces inequalities.
D) Guaranteeing a sustainable future.
Among those that stand out:
1. International economic cooperation
The G20 Action Plan sets out key principles and commitments to boost international economic cooperation while navigating the COVID-19 health crisis and taking measures to support recovery and achieve sustainable, balanced and inclusive growth :
"Recognising that members are at different stages in responding to the crisis and that the global economic outlook continues to evolve, we endorse the October 2020 updates to the G20 Action Plan , which will ensure that we continue to respond in a timely manner to evolving the health and economic situation , and take advantage of the economic, social, environmental, technological and demographic changes underway.
2. Health, a priority
The G20 is committed to advancing preparation, prevention, detection and response to global pandemics . It has also reaffirmed its commitment to improving the implementation of the International Health Regulations (IHR 2005) .
This situation was derived from economic problems and implementation of government policies in the US economic and financial sector, which ended up affecting Mexico and a large number of countries, as a consequence of their financial interdependence.
This served as a lesson to take measures to avoid a similar case, and this is how the G20 was born in 2008.
The Group of Twenty (G20)
The G20 is the main forum for Chile Mobile Number List coordinating macroeconomic policies between the 20 most important economies in the world, which includes the perspectives of both developed countries and emerging economies.
It is considered a crucial summit to avoid another possible economic depression and is made up of the most powerful countries that represent 85% of the world economy.
The leaders that make up it intend to reach an agreement to coordinate joint action aimed at cutting interest rates and increasing public spending by governments , as well as strengthening international regulation of banks and other financial institutions. It's conformed:
Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia, South Africa, Turkey and the European Union.
These countries have a common goal:
Be a regulatory change with sufficient legitimacy to achieve acceptance by all countries. The G20 is an ideal forum because it brings together the main economies and can be a catalyst for the reforms that the IMF, the World Bank and other institutions will adopt.
Federico Steinberg, economist at the Elcano Royal Institute in Madrid.
The G20 recently made a statement when meeting for the second time under the Saudi Presidency.
The statement from Riyadh, Saudi Arabia of the G20
Faced with the health emergency that we are going through and that has impacted the entire 2020 globally, the G20 has made some courageous statements, affirming its commitment:
We are united in our conviction that coordinated global action, solidarity, and multilateral cooperation are necessary today more than ever to overcome current challenges and guarantee the opportunities of the 21st century for all, by empowering people, safeguarding the planet and the configuration of new frontiers.
We are committed to leading the world to build a strong, sustainable, balanced and inclusive post-COVID-19 era.
G20.
In their statement, they highlight 10 fundamental points that should not be left aside. We share them with you below.
10 key points from the G20 Leaders Summit declaration
The declaration is initially made up of four sections:
A) Addressing the challenge together.
B) Building a resilient and lasting recovery.
C) Ensuring an inclusive recovery that reduces inequalities.
D) Guaranteeing a sustainable future.
Among those that stand out:
1. International economic cooperation
The G20 Action Plan sets out key principles and commitments to boost international economic cooperation while navigating the COVID-19 health crisis and taking measures to support recovery and achieve sustainable, balanced and inclusive growth :
"Recognising that members are at different stages in responding to the crisis and that the global economic outlook continues to evolve, we endorse the October 2020 updates to the G20 Action Plan , which will ensure that we continue to respond in a timely manner to evolving the health and economic situation , and take advantage of the economic, social, environmental, technological and demographic changes underway.
2. Health, a priority
The G20 is committed to advancing preparation, prevention, detection and response to global pandemics . It has also reaffirmed its commitment to improving the implementation of the International Health Regulations (IHR 2005) .