The G20 membership is comprised of 10 industrialized nations and 10 emerging market economies. The industrialized nations are the G7, plus Australia, Russia and the European Union president. The 10 emerging market economies include Argentina, Brazil, China, Saudi Arabia and Mexico.Continue Reading
Founded in 1999, the G20 was the creation of German finance minister, Hans Eichel. As of 2015, the G20 nations represent two-thirds of the world's population, 85 percent of the world's gross domestic product and 75 percent of global trade. At each annual G20 meeting, several non-member nations receive invitations to participate in various capacities. The invitees to the 2015 G20 summit are Spain as a permanent invitee; Malaysia, Zimbabwe and Senegal as representatives of other economic and political organizations; and Azerbaijan and Singapore.
The presidency of the G20 rotates annually between member nations. In 2015, the G20 president nation is Turkey. The nation that most recently held the presidency, as well as the nation next in line to assume the position, are tasked with assisting the G20 president in leadership of the organization. In 2015, those positions are held by Australia and China, respectively. The G20 is also assisted by outside organizations in its task of identifying policy problems and solutions, including the International Monetary Fund, the United Nations and the World Bank.Learn more about International Orgs