G-20: Global Issues and Challenges

The Group 20 is a group of economies comprising of developed and emerging economies. It is vital economic forum to deal with global issues that the world is facing. It also provides or creates a consensus on the emerging issues that may have far reaching sequences and impacts on the development of world economy. The Group also suggests new ways and means to solve global issues and challenges. The latest 15th meeting at Seoul, South Korea, discussed the emerging issues, namely- trade imbalances between cash-rich exporting economies, European debt crisis and debt burdened importers. The meeting also discussed currency war due to foreign exchange rates especially between the US and China. It also discussed other vital issues, such as the Millennium Development Goals (MDG) and Doha Development round (DDR), which are affecting the global economy. This paper discusses the major issues concerned and how these issues should be handled appropriately by the Group-20 countries.