China has successfully hosted the G20 summit in Hangzhou.
The G20 is an international meeting for the governments from 20 major economies. Members include Australia, China, France, South Africa, UK and USA. New Zealand is not part of the G20.
This year members discussed fragile state of the global economy and the need for a wide range of policies to fix it.
There was even a joint announcement by China and United States that they would validate the Paris climate change agreement, a significant step for the world’s two biggest emitters of greenhouse gases.
What is economy?
Economy is the system of how money is made and used within a particular country.
For example, when you choose whether to buy lollies or a toy with your pocket money, that’s Economy!
Similarly countries also must decide the best possible way to use their resources and money.