Diplomatist Magazine Diplomatist January 2019

GLOBAL CENTRE STAGE 2018 G20 LEADERS’ SUMMIT IN BUENOS AIRES, ARGENTINA BY MATÍAS IGLESIAS* A t the 13th G20 Leaders’ Summit, which took place on November 30-December 1, 2018, in Buenos Aires, Argentina, some key issues were properly addressed multilaterally while some others were left for bilateral or trilateral meetings in the sidelines, as was expected. Argentina, the 2018 G20 Chair, managed to successfully coordinate the G20 process in the midst of what is referred by many as a transition or even a major crisis of the liberal rules-based international order. The G20 is an international forum originally founded in 1999 to bring together the governments and central bank governors from nineteen countries and the European Union, with the aim to promote international ﬁ nancial stability through multilateral dialogue leading to agreement on principles, norms, rules, and procedures on global economics. The ﬁ nancial crisis of 2008 led to two major developments. Firstly, the G20 expanded its agenda to include other relevant topics such as sustainable development, energy sector, labour market, and social services, among others. Additionally, heads of government or heads of state have been conferring at the G20 Leaders’ Summit, which has been taking place on a yearly basis since 2011. Since the G20 operates without a permanent secretariat, the group’s chair rotates annually among the members. The 2018 G20 Chair was Argentina, who hosted the 13th G20 Leaders’ Summit in Buenos Aires, the ﬁ rst one to take place in South America. Argentina, like every chair, proposed its own topics for 2018: the future of work and the impact of technology on the workplace; infrastructure for development, and a sustainable food future. The 2019 Chair is Japan, which will host the 2019 G20 Osaka Summit. The G20 economies, including the United States, the European Union, Russia, the People’s Republic of China, Japan, South Korea, India, Turkey, Mexico, Brazil, Argentina, among others, currently account for 85-90 percent of world gross product, 75-80 percent of world trade, approximately 80 percent of global investment in research and development, two-thirds of the world population and approximately half of the world land area. Additionally, representatives of main international organizations such as the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), the World Bank Group and the World Trade Organization (WTO), among others are also usually invited to participate in meetings. Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 1 • January 2019, Noida • 13

Diplomatist Magazine Diplomatist January 2019 | Page 13