G20 Country United States: Economic Superpower Shaping Global Policy
The $26,854-billion US financial system plays a pivotal role in the global economy, and as a G20 member, it engages in discussions about international financial stability and regulation.
President: Joe Biden
- Joseph Robinette Biden, or Joe Biden, is the 47th US President who took over in 2021, defeating Donald Trump in the elections.
The United States is one of the biggest members of the Group of Twenty, or G20, which comprises major economies of the world. As one of the world's largest and most influential countries, the United States plays a crucial role in shaping discussions, policies, and decisions within the G20. The US hosted the first G20 Summit in 2008 in Washington DC.
The United States has often played a leading role in shaping the global economy within the G20. Its government, particularly the Department of Treasury, often spearheads initiatives on issues such as financial regulation, trade, taxation, and monetary policy.
The US at the New Delhi G20 summit will push for "increasing the capacity of multilateral development banks, including the World Bank, to better fight poverty, including by addressing global challenges".
The $26,854 billion US financial system plays a pivotal role in the global economy, and as a G20 member, it engages in discussions about international financial stability and regulation. The decisions made in these forums can have a direct impact on the stability of financial markets worldwide.
Beyond economic matters, the United States wields substantial geopolitical influence within the G20. Its foreign policy decisions, security concerns, and alliances with other G20 members can significantly affect global political dynamics. The US recently expressed support for "India’s G20 priorities to provide action-oriented solutions to global challenges, including strengthening food, health, energy, and women’s security, countering terrorism and counternarcotics, and deepening cooperation on renewable energy and sustainable development".
At the 2023 G20 summit, the US will raise the issue of the Russian invasion of Ukraine. In a statement earlier this year, the US said: "The United States will continue to engage with G20 and other international partners to address the immense humanitarian challenges stemming from Russia’s full-scale invasion of Ukraine, especially the damaging effect the Kremlin’s war of aggression has had on global food and energy security. The G20 must hold Russia accountable now for its failure to respond to UN efforts to reopen the sea lanes for grain delivery."
While the US seeks to isolate Russia, it is likely to face major opposition from nations like China and Brazil. The US and China are also navigating troubled waters as the two lock horns over the issue of Taiwan.
Trending News
Top Headlines
