Group of Seven


The Group of Seven (G7) is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Its members are the world's largest IMF-advanced economies and wealthiest liberal democracies;[1][2] the group is officially organized around shared values of pluralism and representative government.[3] As of 2018, the G7 accounts for close to 60% of global net wealth ($317 trillion),[4] 32–46% of global gross domestic product (GDP)[n 1] and for about 770 million people or 10% of the world's population.[5] Most members are great powers in global affairs and maintain mutually close economic, military, and diplomatic relations.

G7
Group of Seven
and the European Union

Logo of the 2021 47th G7 summit
G7 leaders during the emergency meeting about the 2014 Russian annexation of Crimea, hosted by the Netherlands
The G7-nations (blue) and the European Union (teal)

Member states and key leaders:


 United StatesPresident Joe Biden
 United Kingdom (2021 host)Prime Minister Boris Johnson
 CanadaPrime Minister Justin Trudeau
 FrancePresident Emmanuel Macron
 GermanyChancellor Angela Merkel
 ItalyPrime Minister Mario Draghi
 JapanPrime Minister Suga Yoshihide
 European UnionCommission President Ursula von der Leyen
Council President Charles Michel

AbbreviationG7
PredecessorGroup of Eight (G8) (reversion)
Formation25 March 1973 ("Library Group")
1st G6 summit: 15 November 1975
Founder"Library Group":
George Shultz
Helmut Schmidt (also 1st G6 summit)
Valéry Giscard d'Estaing (also 1st G6 summit)
Anthony Barber
(Richard Nixon)
(Willy Brandt)
(Georges Pompidou)
(Edward Heath)
1st G6 summit:
Gerald Ford
Harold Wilson
Aldo Moro
Miki Takeo
Founded atWashington, D.C. ("Library Group")
Rambouillet (1st G6 summit)
TypeInformal club
PurposePolitical
FieldsInternational politics
Membership (2021)
7 (and the EU)
FundingMember states
Formerly called
G5
G6
G8

Originating from an ad hoc gathering of finance ministers in 1973, the G7 has since become a formal, high-profile venue for discussing and coordinating solutions to major global issues, namely in the areas of trade, security, economics, and climate change.[6] Each member state's head of government, along with representatives of the European Union, meet annually at the "G7 Summit"; other high-ranking officials of the G7 and the EU meet throughout the year. Representatives of other nations and international organizations are often invited as guests, with Russia having been a formal member from 1997 until 2014.

The G7 is not based on a treaty and has no permanent secretariat or office; its presidency rotates annually among the members, with the presiding nation setting the group's priorities, and hosting and organizing its summit. While lacking a legal or institutional basis, the G7 is considered to wield significant international influence;[7] it has catalyzed or spearheaded several major global initiatives, including efforts to combat the HIV/AIDS pandemic, provide financial aid to developing countries, and address climate change through the 2015 Paris Agreement.[7][3][8] The group has been criticized for its allegedly outdated and limited membership, narrow global representation, and ineffectualness;[9] it is also opposed by anti-globalization groups, which often protest at summits.

History


Flags of G7 members as seen on University Avenue, Toronto

Origins

The concept of a forum for the world's major industrialized countries emerged before the 1973 oil crisis. On 25 March 1973, the U.S. Secretary of the Treasury, George Shultz, convened an informal gathering of finance ministers from West Germany (Helmut Schmidt), France (Valéry Giscard d'Estaing), and the United Kingdom (Anthony Barber) before an upcoming meeting in Washington, D.C. U.S. President Richard Nixon offered the White House as a venue, and the meeting was subsequently held in its library on the ground floor;[10] the original group of four consequently became known as the "Library Group".[11] In mid-1973, at the Spring Meetings of the International Monetary Fund and the World Bank, Shultz proposed the addition of Japan, which all members accepted.[10] The informal gathering of senior financial officials from the U.S., U.K., West Germany, Japan, and France became known as the "Group of Five".[12]

In 1974, all five nations endured sudden and often troubled changes in leadership. French President Georges Pompidou abruptly died, leading to two rounds of presidential elections in a single year that were closely won by Valéry Giscard d'Estaing. West German Chancellor Willy Brandt, American President Richard Nixon, and Japanese Prime Minister Kakuei Tanaka all resigned due to scandals. In the United Kingdom, a hung election led to a minority government whose subsequent instability prompted another election the same year. Consequently, Nixon's successor, Gerald Ford, proposed a retreat the following year for the group's new leaders to learn about one another.

First summit and expansion

At the initiative of Giscard d'Estaing and his German counterpart, Helmut Schmidt, France hosted a three-day summit in November 1975, inviting the Group of Five plus Italy, forming the "Group of Six" (G6).[13] Taking place at the Château de Rambouillet, the meeting focused on several major economic issues, including the oil crisis, the collapse of the Bretton-Woods system, and the ongoing global recession.[14] The result was the 15-point "Declaration of Rambouillet", which, among other positions, announced the group's united commitment to promoting free trade, multilateralism, cooperation with the developing world, and rapprochement with the Eastern Bloc.[15] The members also established plans for future gatherings to take place regularly every year.

In 1976, British Prime Minister Harold Wilson, who had participated in the first G6 summit, resigned from office; Schmidt and Ford believed the group needed an English speaker with more political experience, and advocated for inviting Pierre Trudeau, who had been Prime Minister of Canada for eight years  significantly longer than any G6 leader. Canada was also the next largest advanced economy after the G6 members.[16] The summit in Dorado, Puerto Rico later that year became the first of the current Group of Seven (G7).[14]

In 1977, the United Kingdom, which hosted that year's summit, invited the European Economic Community to join all G7 summits; beginning in 1981, it had attended every gathering through the president of the European Commission and the leader of the country holding the presidency of the Council of the European Union.[17] Since 2009, the then-newly established Council President of the EU, who serves as the Union's principal foreign representative, also regularly attends the summits.

Rising profile

Until the 1985 Plaza Accord, meetings between the seven nations' finance ministers were not public knowledge. The Accord, which involved only the original Group of Five, was announced the day before it was finalized, with a communiqué issued afterwards.[18] The 1980s also marked the G7's expanded concerns beyond macroeconomic issues, namely with respect to international security and conflict; for example, it sought to address the ongoing conflicts between Iran and Iraq and between the Soviet Union and Afghanistan.

Following the 1994 summit in Naples, Russian officials held separate meetings with leaders of the G7. This informal arrangement was dubbed the "Political 8" (P8), colloquially the G7+1. At the invitation of the G7 leaders, Russian President Boris Yeltsin was invited first as a guest observer, later as a full participant. After the 1997 meeting, Russia was formally invited to the next meeting and formally joined the group in 1998, resulting in the Group of Eight (G8).[14] Russia was an outlier in the group, as it lacked the national wealth and financial weight of other members, had never been a major advanced economy, and was not yet an established liberal democracy.[19][20] Its invitation, made during a difficult transition to a post-communist economy, is believed to have been motivated by a desire to encourage its political and economic reforms and international engagement.

Russia's membership was suspended in March 2014 in response to its annexation of Crimea.[21] Members stopped short of permanently ejecting the country,[22] and in subsequent years expressed an openness or express desire to reinstate Russian participation. Nevertheless, Russia announced its permanent departure in 2017; the following year, the G7 announced further sanctions on the country for its intervention in Ukraine. In 2020, U.S. President Donald Trump, backed by Italian Prime Minister Giuseppe Conte, advocated for Russia's return; all other members rejected the proposal, and Russia expressed no interest.[23]

Renewed calls for expanded membership

There have been various proposals to expand the G7. Under Trump, the U.S. signaled support for the inclusion of Australia, India and South Korea,[24] which is also favored by various think tanks and British leader Boris Johnson.[25] French jurist and consultant Eric Garner de Béville, a member of the Cercle Montesquieu, also proposed Spain's membership to the G7.[26]

Since 2014, the U.S.-based Atlantic Council has held the "D-10 Strategy Forum" involving representatives from what it calls "leading democracies" that support a "rules-based democratic order": Australia, Canada, France, Germany, Italy, Japan, South Korea, the United Kingdom, and the United States, plus the European Union. Several democratic nations  including India, Indonesia, Poland, and Spain  have participated as observers.[25] Centered around a similar mandate as the G7, the D-10 is considered by some analysts as an alternative to the group;[27] the U.K. has signaled its support for the forum, with Johnson inviting its members Australia and South Korea to the June 2021 G7 summit.[27] India was also invited to this most recent summit, so as to "deepen the expertise and experience around the table" along with the other guests, according to a U.K. government statement.[28]

Activities and initiatives


Host venues of G7 summits in North America
Host venues of G7 summits in Japan

The G7 was founded primarily to facilitate shared macroeconomic initiatives in response to contemporary economic problems; the first gathering was centered around the Nixon shock, the 1970s energy crisis, and the ensuing global recession.[29] Since 1975, the group has met annually at summits organized and hosted by whichever nation occupies the annually-rotating presidency;[30] since 1987, the G7 Finance Ministers have met at least semi-annually, and up to four times a year at stand-alone meetings.[31]

Beginning in the 1980s, the G7 broadened its areas of concern to include issues of international security, human rights, and global security; for example, during this period, the G7 concerned itself with the ongoing Iran-Iraq War and Soviet occupation of Afghanistan.[30] In the 1990s, it launched a debt-relief program for the 42 heavily indebted poor countries (HIPC);[32] provided $300 million to help build the Shelter Structure over the damaged reactor at Chernobyl;[33] and established the Financial Stability Forum to help in "managing the international monetary system".[34]

At the turn of the 21st century, the G7 began emphasizing engagement with the developing world. At the 1999 summit, the group helped launch the G20, a similar forum made up of the G7 and the next 13 largest economies (including the European Union), in order to "promote dialogue between major industrial and emerging market countries";[34] the G20 has been touted by some of its members as a replacement for the G7.[35] Having previously announced a plan to cancel 90% of bilateral debt for the HIPC, totaling $100 billion, in 2005 the G7 announced debt reductions of "up to 100%" to be negotiated on a "case by case" basis.[36]

Following the global financial crisis of 2007–2008, which was the worst of its kind since the 1970s,[37] the G7 met twice in Washington, D.C. in 2008 and in Rome the following February.[38][39] News media reported that much of the world was looking to the group for leadership and solutions.[40] G7 finance ministers pledged to take "all necessary steps" to stem the crisis,[41] devising an "aggressive action plan" that including providing publicly-funded capital infusions to banks in danger of failing.[42] Some analysts criticized the group for seemingly advocating that individual nations develop their own responses to the recession, rather than cohere around a united effort.[43]

In subsequent years, the G7 has faced several geopolitical challenges that have led some international analysts to question its credibility,[44] or propose its replacement by the G20.[45] On 2 March 2014, the G7 condemned the Russian Federation for its "violation of the sovereignty and territorial integrity of Ukraine" through its military intervention.[46] The group also announced its commitment to "mobilize rapid technical assistance to support Ukraine in addressing its macroeconomic, regulatory and anti-corruption challenges", while adding that the International Monetary Fund (IMF) was best suited to stabilizing the country's finances and economy.[46]

In response to Russia's subsequent annexation of Crimea, on 24 March the G7 convened an emergency meeting at the official residence of the Prime Minister of the Netherlands, the Catshuis in The Hague; this location was chosen because all G7 leaders were already present to attend the 2014 Nuclear Security Summit hosted by the Netherlands. This was the first G7 meeting neither taking place in a member nation nor having the host leader participating in the meeting.[47] The upcoming G8 summit in Sochi, Russia was moved to Brussels, where, on 5 June 2014 the G7 condemned Moscow for its "continuing violation" of Ukraine's sovereignty and stated they were prepared to impose further sanctions on Russia.[48] This meeting was the first since Russia was suspended from the G8,[48] and subsequently it has not been involved in any G7 summit.

The G7 has continued to take a strong stance against Russia's "destabilising behaviour and malign activities" in Ukraine and elsewhere around the world, following the joint communique from the June 2021 summit in the U.K.[49] The group also called on Russia to address international cybercrime attacks launched from within its borders, and to investigate the use of chemical weapons on Russian opposition leader Alexei Navalny.[49] The June 2021 summit also saw the G7 commit to helping the world recover from the global COVID-19 pandemic (including plans to help vaccinate the entire world); encourage further action against climate change and biodiversity loss; and promote "shared values" of pluralism and democracy.[28]

Summit organization

The annual G7 summit is attended by each member's head of government.[50] The member country holding the G7 presidency is responsible for organizing and hosting the year's summit. The serial annual summits can be parsed chronologically in arguably distinct ways, including as the sequence of host countries for the summits has recurred over time and series.[51] Generally every country hosts the summit once every seven years.[52]

List of summits


# DateHostHost figureLocation heldNotes (previous)

Links (future)

1st15–17 November 1975 FranceValéry Giscard d'EstaingChâteau de Rambouillet, YvelinesG6 Summit
2nd27–28 June 1976 United StatesGerald R. FordDorado, Puerto Rico[53]Also called "Rambouillet II". Canada joined the group, forming the G7.[53]
3rd7–8 May 1977 United KingdomJames CallaghanLondon, EnglandThe President of the European Commission was invited to join the annual G7 summits.
4th16–17 July 1978 West GermanyHelmut SchmidtBonn, North Rhine-Westphalia
5th28–29 June 1979 JapanMasayoshi ŌhiraTokyo
6th22–23 June 1980 ItalyFrancesco CossigaVenice, VenetoPrime Minister Ōhira died in office on 12 June; Foreign Minister Saburō Ōkita led the delegation that represented Japan.
7th20–21 July 1981 CanadaPierre E. TrudeauMontebello, Québec
8th4–6 June 1982 FranceFrançois MitterrandVersailles, Yvelines
9th28–30 May 1983 United StatesRonald ReaganWilliamsburg, Virginia
10th7–9 June 1984 United KingdomMargaret ThatcherLondon, England
11th2–4 May 1985 West GermanyHelmut KohlBonn, North Rhine-Westphalia
12th4–6 May 1986 JapanYasuhiro NakasoneTokyo
13th8–10 June 1987 ItalyAmintore FanfaniVenice, Veneto
14th19–21 June 1988 CanadaBrian MulroneyToronto, Ontario
15th14–16 July 1989 FranceFrançois MitterrandParis, Paris
16th9–11 July 1990 United StatesGeorge H. W. BushHouston, Texas
17th15–17 July 1991 United KingdomJohn MajorLondon, England
18th6–8 July 1992 GermanyHelmut KohlMunich, Bavaria
19th7–9 July 1993 JapanKiichi MiyazawaTokyo
20th8–10 July 1994 ItalySilvio BerlusconiNaples, Campania
21st15–17 June 1995 CanadaJean ChrétienHalifax, Nova Scotia
22nd27–29 June 1996 FranceJacques ChiracLyon, RhôneThe first summit to debut international organizations, namely the United Nations, World Bank, International Monetary Fund and the World Trade Organization.[54]
23rd20–22 June 1997 United StatesBill ClintonDenver, ColoradoRussia joins the group, forming G8.
24th15–17 May 1998 United KingdomTony BlairBirmingham, West Midlands
25th18–20 June 1999 GermanyGerhard SchröderCologne, North Rhine-WestphaliaFirst Summit of the G-20 major economies at Berlin.
26th21–23 July 2000 JapanYoshirō MoriNago, OkinawaFormation of the G8+5 starts, when South Africa was invited. Until the 38th G8 summit in 2012, it has been invited to the Summit annually without interruption. Also, with permission from a G8 leader, other nations were invited to the Summit on a periodical basis for the first time. Nigeria, Algeria and Senegal accepted their invitations here. The World Health Organization was also invited for the first time.[54]
27th21–22 July 2001 ItalySilvio BerlusconiGenoa, LiguriaLeaders from Bangladesh, Mali and El Salvador accepted their invitations here.[54] Demonstrator Carlo Giuliani is shot and killed by the Carabinieri during a violent demonstration. One of the largest and most violent anti-globalization movement protests occurred for the 27th G8 summit.[55] Following those events and the September 11 attacks two months later in 2001, the G8 have met at more remote locations.
28th26–27 June 2002 CanadaJean ChrétienKananaskis, AlbertaRussia gains permission to officially host a G8 Summit.
29th1–3 June 2003 FranceJacques ChiracÉvian-les-Bains, Haute-SavoieThe G8+5 was unofficially made, when China, India, Brazil, and Mexico were invited to this Summit for the first time. South Africa has joined the G8 Summit, since 2000, until the 2012 edition. Other first-time nations that were invited by the French president included: Egypt, Morocco, Saudi Arabia, Malaysia and Switzerland.[54]
30th8–10 June 2004 United StatesGeorge W. BushSea Island, GeorgiaA record number of leaders from 12 different nations accepted their invitations here. Amongst a couple of veteran nations, the others were: Ghana, Afghanistan, Bahrain, Iraq, Jordan, Turkey, Yemen and Uganda.[54] Also, the state funeral of former President Ronald Reagan took place in Washington during the summit. All of G8 participants attended this funeral, along with 20 more heads of state.
31st6–8 July 2005 United KingdomTony BlairGleneagles, ScotlandThe G8+5 was officially formed. On the second day of the meeting, suicide bombers killed 52 people on the London Underground and a bus. Nations that were invited for the first time were Ethiopia and Tanzania. The African Union and the International Energy Agency made their debut here.[54] During the 31st G8 summit in United Kingdom, 225,000 people took to the streets of Edinburgh as part of the Make Poverty History campaign calling for Trade Justice, Debt Relief and Better Aid. Numerous other demonstrations also took place challenging the legitimacy of the G8.[56]
32nd15–17 July 2006 Russia (only G8 member, not G7)[19]Vladimir PutinStrelna, Saint PetersburgFirst G8 Summit on Russian Federation soil. Also, the International Atomic Energy Agency and UNESCO made their debut here.[54]
33rd6–8 June 2007 GermanyAngela MerkelHeiligendamm, Mecklenburg-VorpommernSeven different international organizations accepted their invitations to this Summit. The Organisation for Economic Co-operation and Development and the Commonwealth of Independent States made their debut here.[54]
34th7–9 July 2008 JapanYasuo FukudaTōyako, HokkaidōNations that accepted their G8 Summit invitations for the first time are: Australia, Indonesia and South Korea.[54]
35th8–10 July 2009 ItalySilvio BerlusconiLa Maddalena, Sardinia (cancelled)
L'Aquila, Abruzzo
(re-located)[57]
This G8 Summit was originally planned to be in La Maddalena (Sardinia), but was moved to L'Aquila as a way of showing Prime Minister Berlusconi's desire to help the region after the 2009 L'Aquila earthquake. It was the most heavily attended summit in the history of the group (with 15 invited countries). Nations that accepted their invitations for the first time were: Angola, Denmark, Netherlands and Spain.[58] Also, a record of 11 international organizations were represented in this G8 Summit. For the first time, the Food and Agriculture Organization, the International Fund for Agricultural Development, the World Food Programme, and the International Labour Organization accepted their invitations.[59]
36th25–26 June 2010[60] CanadaStephen HarperHuntsville, Ontario[61]Malawi, Colombia, Haiti, and Jamaica accepted their invitations for the first time.[62]
37th26–27 May 2011 FranceNicolas SarkozyDeauville,[63][64] CalvadosGuinea, Niger, Côte d'Ivoire and Tunisia accepted their invitations for the first time. Also, the League of Arab States made its debut to the meeting.[65]
38th18–19 May 2012 United StatesBarack ObamaChicago, Illinois (cancelled)
Camp David, Maryland (re-located)[66]
The summit was originally planned for Chicago, along with the NATO summit, but it was announced officially on 5 March 2012, that the G8 summit will be held at the more private location of Camp David and at one day earlier than previously scheduled.[67] Also, this is the second G8 summit, in which one of the leaders, Vladimir Putin, declined to participate. This G8 summit concentrated on the core leaders only; no non-G8 leaders or international organizations were invited.
39th17–18 June 2013 United KingdomDavid CameronLough Erne, County Fermanagh, Northern Ireland[68]As in 2012, only the core members of the G8 attended this meeting. The four main topics that were discussed here were trade, government transparency, tackling tax evasion, and the ongoing Syrian crisis.[69]
40th4–5 June 2014 European UnionHerman Van Rompuy
José Manuel Barroso
Brussels, Belgium (re-located from Sochi, Russia)G7 summit as an alternative meeting without Russia in 2014 due to association with Crimean crisis.[70] The 2014 G8 summit in Sochi was cancelled and re-located to Brussels, Belgium without Russia.[71] Emergency meeting in March 2014 in The Hague.
41st7–8 June 2015 GermanyAngela MerkelSchloss Elmau, Bavaria[72]Summit dedicated to focus on the global economy as well as on key issues regarding foreign, security and development policy.[73] The Global Apollo Programme was also on the agenda.[74]
42nd26–27 May 2016[75][76] JapanShinzō AbeShima, Mie Prefecture[77]The G7 leaders aim to address challenges affecting the growth of the world economy, like slowdowns in emerging markets and drops in price of oil. The G7 also issued a warning to the United Kingdom that "a UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create and is a further serious risk to growth".[78] Commitment to an EU–Japan Free Trade Agreement.
43rd26–27 May 2017[79] ItalyPaolo GentiloniTaormina, Sicily[80]G7 leaders emphasized common endeavours: to end the Syrian crisis, to fulfill the UN mission in Libya and reducing the presence of ISIS, ISIL and Da'esh in Syria and Iraq. North Korea was urged to comply with UN resolutions, Russian responsibility was stressed for Ukrainian conflict. Supporting economic activity and ensuring price stability was demanded while inequalities in trade and gender were called to be challenged. It was agreed to help countries in creating conditions that address the drivers of migration: ending hunger, increasing competitiveness and advancing global health security.[81]
44th8–9 June 2018 Canada[82]Justin TrudeauLa Malbaie, QuébecIt took place at the Manoir Richelieu. Prime Minister Trudeau announced five themes for Canada's G7 presidency which began in January 2018. Climate, along with commerce trades, was one of the main themes. "Working together on climate change, oceans and clean energy".[83] The G7 members' final statement contains 28 points. US President Donald Trump did not agree to the economic section of the final statement.[84] The G7 members also announced to recall sanctions and to be ready to take further restrictive measures against Russian Federation for the failure of Minsk Agreement's complete implementation.[85]
45th24–26 August 2019 France[86]Emmanuel MacronBiarritz, Pyrénées-AtlantiquesIt was agreed at the summit that the World Trade Organization, "with regard to intellectual property protection, to settle disputes more swiftly and to eliminate unfair trade practices", "to simplify regulatory barriers and modernize international taxation within the framework of the OECD", "to ensure that Iran never acquires nuclear weapons and to foster peace and stability in the region.", "to support a truce in Libya that will lead to a long-term ceasefire" and addressed the Russian military intervention in Ukraine and the 2019 Hong Kong anti-extradition bill protests.[87][88][89][90]
46thCancelled United States (planned host)[86]Donald Trump (planned host figure)Camp David, Maryland (cancelled)This meeting was originally scheduled to be held in Camp David, Maryland, but that meeting was officially postponed on 19 March 2020 due to the concerns over the worldwide coronavirus pandemic and was planned to be replaced by a global videoconference.[91] But no such meeting has been held.
47th11–13 June 2021 United Kingdom[92]Boris JohnsonCarbis Bay, St Ives, Cornwall, England[93]Provisional agreement reached on global minimum corporate tax rate of 15%.[94]
48thTBD, 2022 Germany[92]TBDTBD
49thTBD, 2023 Japan[92]TBDTBD
50thTBD, 2024 Italy[92]TBDTBD

Country leaders and EU representatives (as of 2021)


Current leaders

Member Representative(s) Minister of Finance Central Bank Governor
Canada Prime Minister Justin Trudeau Minister of Finance Chrystia Freeland Governor Tiff Macklem
France President Emmanuel Macron Minister of the Economy and Finance Bruno Le Maire Governor François Villeroy de Galhau
Germany Chancellor Angela Merkel Minister of Finance Olaf Scholz President Jens Weidmann
Italy Prime Minister Mario Draghi Minister of Economy and Finance Daniele Franco Governor Ignazio Visco
Japan Prime Minister Yoshihide Suga Minister of Finance Tarō Asō Governor Haruhiko Kuroda
United Kingdom Prime Minister Boris Johnson Chancellor of the Exchequer Rishi Sunak Governor Andrew Bailey
United States President Joe Biden Secretary of the Treasury Janet Yellen Chair Jerome Powell
European Union Council President[95] Charles Michel Commissioner for Economy Paolo Gentiloni President Christine Lagarde
Commission President[95] Ursula von der Leyen

Member country data

The G7 is composed of the seven wealthiest advanced countries. The People's Republic of China, according to its data, would be the second-largest with 16.4% of the world net wealth,[4] but is excluded because the IMF and other main global institutions do not consider China an advanced country [citation needed] and because of its relatively low net wealth per adult and Human Development Index.[96][19] As of 2017, Crédit Suisse reports the G7 (without the European Union) represents above 62% of the global net wealth;.[97] including the EU, the G7 accounts for over 70% of the global net wealth.[98]

Member Trade mil. USD (2014) Nom. GDP mil. USD (2019)[99] PPP GDP mil. USD (2019)[99] Nom. GDP per capita USD (2019)[99] PPP GDP per capita USD (2019)[99] HDI (2017) Population (2014) Permanent members of UN Security Council DAC OECD Economic classification (IMF)[100]
Canada 947,200 1,736,426 1,920,997 46,271 51,190 0.926 35,467,000 N Y Y Advanced
France 1,212,300 2,715,818 3,228,039 41,896 49,798 0.901 63,951,000 Y Y Y Advanced
Germany 2,866,600 3,861,550 4,672,006 46,472 56,226 0.936 80,940,000 N Y Y Advanced
Italy 948,600 2,001,466 2,665,524 33,159 44,160 0.880 60,665,551 N Y Y Advanced
Japan 1,522,400 5,079,916 5,450,654 40,255 43,193 0.909 127,061,000 N Y Y Advanced
United Kingdom 1,189,400 2,830,764 3,254,845 42,378 48,727 0.922 64,511,000 Y Y Y Advanced
United States 3,944,000 21,433,225 21,433,225 65,253 65,253 0.924 318,523,000 Y Y Y Advanced
European Union (2014) 4,485,000 18,527,116 18,640,411 36,645 36,869 0.899 505,570,700 N/A Y N/A Emerging and Developing / Advanced[101]

Member facts

Criticism and controversy


2014 suspension and subsequent exclusion of Russia

In March 2014 Russia was suspended by G7 members from the political forum G8 following the annexation of Crimea. In January 2017, Russia announced it would permanently leave the G8, which came into effect June 2018.[112][113][114][115][116]

2015 protests

About 7,500 protesters led by the group 'Stop-G7' demonstrated during the summit. About 300 of those managed to reach the 3 m high and 7 km long security fence surrounding the summit location despite Germany's immense efforts to prevent it and despite its remote location – the luxury hotel Schloss Elmau at the foot of the Wetterstein mountains (altitude of 1,008 m (3,307 ft) above sea level). The protesters questioned the legitimacy of the G7 to make decisions that could affect the whole world. Authorities had banned demonstrations in the closer area of the summit location and 20,000 police were on duty in Southern Bavaria to keep activists and protesters from interfering with the summit.[117][118]

2018 Trump conflict over tariffs and Russia

The 2018 meeting in Charlevoix, Canada, was marred by fractious negotiations concerning tariffs and Donald Trump's position that Russia should be reinstated to the G7. The Trump administration had just imposed steel and aluminum tariffs on many countries, including European countries that are fellow members of the G7, and Canada, the host country for the 2018 meeting. Trump expressed dismay at Canadian Prime Minister Trudeau for holding a press conference in which Canada restated its position on tariffs (a public criticism of Trump's economic policy), and directed his representatives at the meeting to not sign the economic section of the joint communiqué that is typically issued at the conclusion of the meeting. German Chancellor Angela Merkel described Trump's behavior as a "depressing withdrawal," while French President Emmanuel Macron invited him "to be serious."[119] In the final statement signed by all members except the US, G7 announced its intention to recall sanctions and to be ready to take further restrictive measures within the next months against the Russian Federation for its failure to completely implement the Minsk Agreement.[85]

Trump repeated calls for Russia to be re-admitted to the group in the 2019 meeting in Biarritz, saying it should be included in discussions relating to Iran, Syria, and North Korea. The Italian Prime Minister Giuseppe Conte supported Trump's proposal, Shinzo Abe of Japan was neutral, and the rest of the G7 pushed back against the suggestion, after which the atmosphere allegedly became "tense".

2019 Amazon rainforest fires and Brazil

U.S. President Donald Trump's reiteration that Russia should be readmitted to the group (see above), instigation of a trade war with China, increased tensions in Iran, Trump's alleged reluctance to attend the conference and a number of international crises made the 2019 G7 meeting in Biarritz, France the most divided since its inception. Following Trump's previous rescinding of his signature to a joint communiqué agreed in 2018 due to an alleged slight from Canadian Prime Minister Justin Trudeau (see above), French President Emmanuel Macron agreed that the group would not issue a joint communiqué at the Biarritz conference.[120]

The G7 nations pledged US$20 million to help Brazil and other countries in South America to fight the wildfires. This money was welcomed, although it was widely seen as "relatively small amount" given the scale of the problem.[121] Macron threatened to block a major trade deal between European Union and Brazil (Mercosur) that would benefit the agricultural interests accused of driving deforestation.[122]

See also


Notes


  1. Depending on whether nominal values or purchasing power parity is used.

References


  1. "Report for Selected Countries and Subjects". www.imf.org.
  2. "World Economic Outlook Database". International Monetary Fund. imf.org. October 2017. Major Advanced Economies (G7).
  3. "What is the G7?". G7 UK Presidency 2021. Retrieved 12 June 2021.
  4. Research Institute – Global Wealth Databook 2018[permanent dead link]
  5. "The G7: Frequently Asked Questions". France Diplomacy – Ministry for Europe and Foreign Affairs. 26 August 2019. Retrieved 12 June 2021.
  6. CNN, Paul LeBlanc. "What is the G7, and what power does it hold?". CNN. Retrieved 12 June 2021.
  7. Shear, Michael D. (11 June 2021). "G7 News: A Return to Face-to-Face Diplomacy". The New York Times. ISSN 0362-4331. Retrieved 12 June 2021.
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