GROUP 20 (FIFTH) AND GLOBAL ISSUES AND CHALLENGES

Abstract

Group 20 is a group of economies, comprising of developed and emerging economies, is a vital economic forum to deal with global issues, that the world has been facing. The Forum also provides or creates a consensus on the emerging issues that may have
far reaching sequences, implications and impact on the growth and development of world economy. The group also suggests new ways and means to solve global issues and challenges. The latest meeting i.e. fifth at Seoul (South Korea) has also discussed the
emerging issues namely- trade imbalances between cash-rich exporting economies and debt burdened importers and currency war due to foreign exchange rates especially between the US and China . The group has also discussed some other vital issues namely- Millennium Development Goals (MDG) and Doha Development round (DDR) affecting the growth and development of global economy. Informal gathering in China has also provided a basis and forum to developed and developing nations to discuss the critical issues formally in coming year. The present paper analyses the major issues of concern for the world and how these issues and challenges should be dealt and met by the Group-20 countries.