Financial Regulation and G20

The London summit of 2009 was the first major attempt by the global community to tackle the global economic downturn, and $1.1 trillion was injected into the global economy for low- and middle-income countries. The framework for “strong sustainable and balanced growth” was launched, and the medium-term policy frameworks were set out at the Pittsburgh summit in 2009. The major purpose of the Toronto summit in 2010 was to act as a transitional summit to check on the progress of the upcoming agendas in the Seoul summit and to diversify the G20 agendas from being financial decision driven to accommodating development. The Antalya summit in 2015 focused on three is: “inclusiveness, implementation, and investment for growth.” The Chinese presidency in 2016 focused on the four major agendas of sustainable growth: strengthening the G20 growth for catalysing new drivers of growth; by coordinated fiscal, monetary policies; an open world economy by rejecting protectionism; and inclusive growth. This chapter discusses the evolution of the agenda on financial regulation in the G20. The common threads between the G20 emerging economies’ presidencies in terms of the Finance Track themes that leaders considered have been those of global imbalances and/or rebalancing; financial inclusion; exchange rates; infrastructure and/or infrastructure investment; and structural reforms, besides the four core themes of financial sector regulation and reform; reform of international financial institutions; global growth and monetary and fiscal policies; and international taxation.