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G 20 and the consequences

Is the Super G 20 summit solving global problems and needs - or is it rather working on the establishment of a global dictatorship? 

July 2014
Prof. Dr. Hans J. Bocker 

For the casual observer the term "G 20" seems to be massively overused in the mainstream media, and very few people are concerned about the frequent routine reports from the meetings. Readers give to them as much thought as to the quarterly reports of the local rabbit breeders association.
What exactly is actually "G 20"?   Easy enough to explain: It is the informal grouping or congregation of a group. It consists of the twenty most important industrial and emerging countries, thus the global “heavyweights”, more precisely, the high ranking representatives of 19 States and the EU, who view themselves as the center of the world and the linchpin of world history.
In fact, the "G 20" and its great meetings have more than the full attention of the media. It has been regularly given an almost religious significance and is presented as a kind of "saving the world”- organization of the highest degree. Great expectations and significance are tied to the meetings. The group enjoys somewhat of a demi-God status and is considered as some kind of holy configuration that has only the salvation and well being of humanity in mind.  
 

But is all this justified? And what is the meaning and purpose of it all? The establishment documents and the founder protocols provide here some basic information. The core and essence of the group’s activities: cooperation, consultation and agreements in all aspects of the international financial system.

Who attends the meetings?

Only members of the highest ranking classes from the world of international finance and of the political power elite from the top floors of power have access. First of all, of course, there are the powerful central bankers and finance ministers of the G-8, which shrank recently to G-7, since “evil Russia” was shut out of the Round Table.

Also on board are the leaders of the member countries and the EU Presidency, but the latter only if, at the time of the meeting, none of the EU-countries holds the chairmanship of the whole group, otherwise Brussels would be considered “overrepresented”. Chairmanship and with it, the president-position, of course, are revolving. Furthermore, the President of the ECB, the Managing Director of the IMF, the World Bank President and the respective chairmen of the

a) Development Committee of the IMF and World Bank

and from the

b) International Monetary and Financial Committee   are attending too. Economically speaking, the group is a heavy weight.

The 20 underlying economies generate about 82 % of all global trade, produce around 90 % of the total annual GDP generated by all of humanity, so almost the full economic power of the world congregates at the meetings. Furthermore, the 20 countries represent approximately 67 % of the planet’s population. The 20 members are listed quickly - which are: USA, China, EU (excluding the four economically strongest members), Japan, Germany, France, Brazil, England, Italy, Russia, Canada, India, Australia, Mexico, South Korea, Indonesia, Turkey, Saudi Arabia, Argentina, and finally South Africa, the only country from the earth’s second largest continent with its 51 nations, that made it to this round.

The organization, whose establishment was decided during the "World Financial Summit" in 1997, changed its face and composition a few times. For the first time, the group came together in April 1998 in Washington D.C, as the "G-22". In 1999 the group swelled to 33 members (“G-33”). But since December 1999 a shrinking process took hold. The final result was "G-20" as we know it today. Since then, membership remained constant to this day. However, since February 2013, Switzerland has been granted an “observer status”. A proper and formal membership has so far not been awarded, though economic and financial power of the Alpine country is larger than those of Argentina or South Africa. For 2014 is Australia the "Chair Country" and for 2015 Turkey will hold the chairmanship. Each country holding the Presidency and chair decides on invitations to a meeting, and ultimately also on the acceptance of new members.

So much for the background, composition and structure of the group.

  

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