Observe. Think. Chat. Do. Trade. Repeat…
Elbert Hubbard – was an American writer, publisher, artist, and philosopher. He was a travelling salesman.
Hubbard is best known as the founder of the Roycroft artisan community in New York, an influential exponent of the Arts and Crafts movement.
No, nor me – never heard of him, but I really like this quote.
The G20 summit will be held in New Delhi on 9th and 10th September 2023. This is the first time that India has hosted such a prestigious event, which brings together the leaders of the world’s 20 major economies with the exception of Russia.
India has invited several other countries and organisations to attend the summit, to include Bangladesh, Egypt, Spain, Netherlands, Nigeria, Mauritius, Singapore, Oman, UAE, UN, IMF, WHO, WTO, ILO, OECD, ISA, CDRI and ADB.
The summit will cover a range of issues, such as global health and pandemic response, economic recovery and resilience, climate change and environment, digital transformation and innovation, and gender equality and women empowerment. India has also proposed three new agenda items for the summit: reformed multilateralism, physical and social infrastructure for rapid inclusive development, and media and entertainment.
India hopes that the G20 summit will cement its role as a major global player and showcase its achievements and aspirations to the world. However, the summit also faces some challenges and uncertainties, such as the absence of China’s Xi Jinping and Russia’s Vladimir Putin, the possibility of failing to agree on a joint communique, and the criticism of India’s beautification efforts that have displaced many poor people and animals.
India’s economy is expected to grow significantly in the coming years. For example, some economists predict that India’s annual gross domestic product growth (GDP) will average 6.3% through 2030. Others estimate that India’s GDP is likely to more than double from current levels by 2031. The OECD also forecasts that India will grow by 6% in 2023–24 and by 7% in 2024–25.
Some of the factors that may contribute to India’s economic growth are its strong emphasis on physical infrastructure development, ease of doing business, improved global conditions, and increased public spending on health care. However, there are also some challenges and risks that India may face, such as inflationary pressures, global uncertainties, environmental issues, and the labour market.
The G20 is a group of 20 major economies that meet annually to discuss global issues such as economic growth, trade, development, health, climate change and energy.
Members of the G20
The European Union is represented by the European Commission and the European Central Bank. The G20 accounts for around 80% of gross world product, 75% of international trade, two-thirds of the global population, and 60% of the world’s land area.
The G20 was founded in 1999 in response to several world economic crises and has become the primary venue for international economic and financial cooperation.
There is a possibility that the summit could be overshadowed by India and Modi, who has given the event ‘major’ attention.
Update
African Union made permanent member of G20 ‘family’ of countries at the India hosted summit 2023.
He was an anti-colonial nationalist, Indian lawyer and political ethicist who employed nonviolent methods to lead the successful campaign for India’s independence from British rule.
Gandhi, who led a major nonviolent protest against the British rule in India by marching to the sea to make salt. He was also known as Mahatma Gandhi, meaning ‘great soul’ in Sanskrit.
He inspired millions of Indians to join his campaign of civil disobedience, or satyagraha, which means ‘truth force’ or ‘soul force’ in Sanskrit.
He was arrested several times by the British authorities, but he never gave up his fight for India’s independence. He is widely regarded as the father of the Indian nation and a global symbol of peace and justice.
According to a report by Henley & Partners, a professional consultancy firm, there are 22 people who have crypto holdings worth at least $1 billion as of September 2023. Six of them hold their investments in Bitcoin, the first and largest cryptocurrency by market capitalization.
There are also likely to be some anonymous Bitcoin billionaires who have not disclosed their identities or holdings to the public.
One of them could be Satoshi Nakamoto, the mysterious ‘likely’ creator of Bitcoin, who is estimated to have mined over one million Bitcoins in the early days of the network.
If he still owns them, his fortune would be worth over $40 billion at current prices. However, there is no conclusive evidence that he is still alive or in control of his bitcoins, or even that he was the originator of Bitcoin.