Friday, September 25, 2009

G-20 reflects the real politic as well as economy.

The picture in New york times is really comical.It showes a large circle with about seventy seats .There is also a second row covering about one third of the circle.I have never
seen such a seating arrangement.I thought g-20 may remain a small and effective group .Seeing the seating i am not sure. Still i could feel that i could work with a 20 member group .It represents may be 70 percent of the humanity , that is an achievement.It also represents 80 percent the financial and economic output.

I would add a representative for AFrica,central america as well as former soviet states.

That will make it agroup of 23 and would represent 90 plus percent of the world output.

The G-20 is made up of the finance ministers and central bank governors of 19 countries:

Saudi Arabia
South Africa
South Korea
United Kingdom
United States of America
And twentieth member is europeon union with rotating membership


Unlike international institutions such as the Organization for Economic Co-operation and Development (OECD), IMF or World Bank, the G-20 (like the G-7) has no permanent staff of its own. The G-20 chair rotates between members, and is selected from a different regional grouping of countries each year. In 2009 the G-20 chair is the United Kingdom, and in 2010 it will be South Korea. The chair is part of a revolving three-member management Troika of past, present and future chairs. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The role of the Troika is to ensure continuity in the G-20's work and management across host years.

NYT says G 20 agrees on Far-Reaching economic PLan.

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