China to host G20 Summit of the emerging economies in 2016

Nov 17, 2014 16:07 IST

China will play host to the Group of Twenty (G20) Summit of the emerging economies in 2016. The decision was announced by Australian Prime Minister Tony Abbott on 16 November 2014 in Brisbane.

In 2014, G20 Summit was hosted by Australia. Turkey took over the presidency from Australia and will host the event in Antalya in 2015. With China being selected for the 2016 presidency, the G20 troika would now consist of Turkey, Australia and China.

The leaders of the Group of 20 also announced a plan to boost global growth by more than 2 trillion US dollars over five years.

G20 Summit
The G20 is a major platform for dialogue and coordination between developed and developing big countries. Unlike some other international organizations, the G20 has no permanent staff of its own.

The G20 chair rotates between members and is selected from a different regional grouping of countries each year. The chair is part of a revolving three-member management troika of past, present and future chairs.

The incumbent chair establishes a temporary secretariat for the duration of its term which coordinates the group's operations and organizes its meetings. The role of the troika is to ensure continuity in the G20 work and management across host years.

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Read more Current Affairs on: China , G20 Summit , Turkey , Australia , Group of Twenty Summit

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