G20 Country Japan: Economic Giant Navigating Complex Global Challenges
Head of Government: Fumio Kishida
Since its establishment in 1999, Japan has been a valued member of the G20, a major global platform for economic cooperation. Renowned for its vibrant cultural legacy, groundbreaking technological advancements, and impressive economic strength, Japan has taken on a crucial role in shaping worldwide economic strategies and promoting international cooperation.
Japan, the third largest economy in the world, is known for its advanced infrastructure, thriving services industry, and strong manufacturing sector. This island country in the Pacific Ocean excels in technology and innovation, making it a frontrunner in molding the digital economy. Being a part of the G20 nations, Japan holds a crucial position in discussions regarding trade, economic progression, and financial stability.
In 2019, Japan took on the leadership role of the group of countries that make up 85 percent of the total global GDP, comprise two-thirds of the world's population, and contribute to 75 percent of the world's trade.
According to the Japanese foreign ministry, due to the concerns and unhappiness caused by the changes that came with globalization, the world as a whole and especially the other member states began looking towards Japan for guidance and leadership.
According to the official statement released by Japan, they assumed the role of Presidency and led the way in making sure the G20 conveyed a powerful statement to the international community through the G20 Osaka Leaders' Declaration. This declaration covered a wide range of topics, including driving worldwide economic expansion by fostering free trade and innovation, tackling inequalities, and actively participating in finding solutions for environmental and global issues.
From its inception during the disastrous financial turmoil that engulfed East Asia and Southeast Asia in 1997, Japan has remained resolute in fulfilling the mission of the G20. This entails tackling significant challenges afflicting the worldwide economy, such as ensuring fiscal stability and combatting climate change, while also forging a path for a brighter future.
The gathering held in Osaka on June 28 and 29, 2019, called together the G20 nations, alongside the European Union (EU), as well as eight specially invited countries such as Egypt, Chile, the Netherlands, Senegal, Singapore, Spain, Thailand, and Vietnam.
The gathering, which additionally featured participation from 9 international establishments, was not just the first G20 Summit in Japan but also its largest-ever assembly of global policymakers and representatives in one setting.
Outlining the main goals of Japan's leadership in the G20 and the Osaka Summit, the Ministry of Foreign Affairs emphasized its dedication to enhancing the worldwide framework for trade that is both open and fair. Moreover, it aimed to establish the "Osaka Track," a global platform aimed at governing data globally by prioritizing the transparent movement of data with trust. Additionally, the Japanese presidency sought to utilize groundbreaking innovations to confront major environmental issues on a global scale.
Fast forward to this year, Prime Minister Fumio Kishida will spearhead a group of Japanese leaders and representatives at the G20 Summit, organized in the Indian capital, New Delhi, on September 9 and 10. Centered around the theme of 'Vasudhaiva Kutumbakam' or 'One Earth, One Family, One Future', this year's gathering will bring together member-states and invited nations to discuss and address the urgent global issues of our era.
