Challenges for G20 Countries
There are certain challenges for G20 countries, including the African Union, and some of them include:
- Impact of Russia-Ukraine War: Impact of Russia-Ukraine War has not only created geopolitical upheaval but also spiked global inflation. This has reduced the purchasing power of the countries and is hence downgrading the development.
- Impact of Rising Inflation: In response to high inflation, central banks across countries have raised interest rates which has dampened economic activity further.
- Slowdown of Major Economies: Many of the major engines for global growth like China are having a sharp slowdown in regard to its struggle in the real estate crisis.
- Rising Geopolitical Rifts: The increased conflicts between the US and China are leading to significant disturbances. The reduction of trading activities between European countries and the UK is due to the Brexit decision.
G-20 summit 2023
G-20 summit 2023: The G-20 is an international forum where 19 different sovereign nations, the Northern and African Union come together to address major issues related to the global economy, such as international financial stability, poverty rates, climate change, etc. As the world goes through various difficulties and challenges, the G-20 comes together to address pressing global issues, promote sustainable development, and advance economic stability throughout the whole world. The outcomes and decisions made in this summit decide the final move towards the issue from all nations.
In this article, we will read about the G-20 Summit 2023, countries, the India Presidency, Challenges, etc.
Table of Content
- About G-20 Summit
- G20 India Presidency
- G20 Leaders’ Summit 2023
- Key Takeaways From the G20 Summit 2022
- Challenges for G20 Countries
- Indian Presidency in 2023
- History of the G20
- Number of Countries in G20+
- List of G-20 Summits from 2008 to 2023
- What is the G20+?
- What did India do at the G20 2023 Summit?