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We Must Harness the G20's Potential

Pedestrians pass signage advertising the G20 summit in Hangzhou, China on Monday, Aug. 29, 2016. This weekend the leaders of 20 of the world’s major economies gather in China to talk about issues ranging from the global economy to the threat of terrorism. Photographer: Qilai Shen/Bloomberg
The two-day G20 summit in Hangzhou, China starts on Sunday.
  • Why it matters

    Why it matters

    The world faces a plethora of societal, economic and political problems, and the G20 apparatus offers an opportunity to try to solve them.

  • Facts


    • The leaders of the top 20 global economies will meet September 4-5 in Hangzhou, China.
    • Germany is to take over the G20’s presidency on December 1, 2016.
    • In June, Germany’s three top business associations appointed Jürgen Heraeus as the next chairman of the G20-affiliated Business 20 coalition.
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The heads of state and government of the world’s top 20 leading economies, the Group of 20 or G20, will meet in the Chinese coastal city of Hangzhou on September 4-5.

The G20 proved its importance during the financial and economic crisis from 2008 to 2011. Today, the global economy is still facing huge challenges: terrorist attacks, violent political conflicts, the refugee crisis, the consequences of the British referendum, the further stabilization of the euro zone, climate change and volatility in emerging countries and economies, to name just a few of the challenges.

On December 1, Germany will be assuming the presidency of the G20 for the first time. This is the chance to further develop the G20 from being a crisis management group to a player in global economic policy acting strategically with long-term goals. At a time when more and more countries are turning inward and nationalist tendencies are gaining ground, the G20 must counter such developments.

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