For the first time, Japan will host the G20 Summit. The G20 Summit is a yearly economic meeting for some of the world’s biggest countries. G20 stands for Group of 20. It is made up of 19 different nations and the European Union. On June 28-29, leaders from these nations will arrive in Osaka, Japan. They will discuss the world’s economy [the system for trading goods and services].
The G20 Summit was created to solve economic concerns around the world. Over the years, leaders at the summit have discussed many issues. The first G20 Summit took place in 2008. The summit happened during an economic crisis [very difficult time]. Millions of people were losing their jobs. At the time, leaders gathered at the summit to find ways to help the economy. They also wanted to stop another crisis from happening in the future.
This year, leaders at the G20 Summit will discuss the trade disagreement between the United States and China. Each country thinks the other country is trading goods unfairly. Japan’s prime minister also hopes to discuss ways to protect the Earth’s oceans and improve people’s lives.
What Do You Think? Why is it important countries talk to each other about trade and other economic issues?
Photo Credit: Official White House Photo by Shealah Craighead