By: Daniela Fernandez
This year, the G20 Summit was held on November 30 – December 1 in Buenos Aires, Argentina. The G20 summit has been going on since 1999. The summit is where the world’s countries, that lead in the economy, meet every year. Heads of state, or governments, attend the summits to discuss ways to help the world’s economy stabilize. They also talk about financial markets, trade, and development. There are 19 countries, and the EU, that participate in the G20 summit according to G20 Argentina 2018. These countries are Argentina, United States, Canada, United Kingdom, Brazil, South Korea, Turkey, South Africa, Germany, China, India, Indonesia, France, Japan, Mexico, Russia, Saudi Arabia, Italy, and Australia.
This year, they discussed technology, and how they could guarantee that everyone has access to technology. Also, how technology helps to resolve problems in the world, and to make sure that technology won’t create a backlash in the world.
They also talked about finances, and ways that they can guarantee that money is shared with everyone. This included ways to ensure that the IMF and the WB have enough resources to help countries, and prevent economic loss.
They also discussed agriculture, and the loss of sustainable land because of global warming, and unfair access to land.
Another topic they discussed was international trade, access to markets, globalization, and fair trade.
The final topic they discussed was anti corruption, and helping developing countries fight governmental and industrial corruption, according to G20 Argentina 2018.
This year, at the G20 summit, the US, Canada, and Mexico signed the updated NAFTA agreement. This agreement is about including more products in the free trade market, and guaranteeing that the US won’t force tariffs. This agreement has Canada open its milk market to the United States.
The new agreement says that starting in 2020, to have no tariffs, cars and trucks have to be made with 75% of its parts from the United States, Mexico, and Canada. It is currently at 62.5% parts made from the US, Mexico, and Canada. The new agreement won’t take action until 2020 according to the Washington Post.