G7; what is it?
Posted: 18 May 2023, 16:31
I understand it as Group of 7, but the selections of those 7 is unclear. Which criteria (criterion) is used to select the members to the exclusive club?
Is it economic criteria, I doubt. The second largest economy of the world is left out of the club.
Is it military strength? I doubt, I think Russia is the second largest military power on earth but left out of the club.
Is it population size? I doubt, the world's two largest populations are left out.
Is it Geography? I doubt, it spans 3 continents thousands of miles apart, while those in next-door neighbours are left out.
What qualifies one to such an exclusive club, which also engages itself in discussions and deliberations of issues pertinent to the whole world? It represents just 10% of the world's population. It doesn't account for even half of the world's aggregated GDP. Still it has approportionated the world's wealth, for whatever reason. GDP less than 50% but wealth more than 50%, how is that possible?
Is it economic criteria, I doubt. The second largest economy of the world is left out of the club.
Is it military strength? I doubt, I think Russia is the second largest military power on earth but left out of the club.
Is it population size? I doubt, the world's two largest populations are left out.
Is it Geography? I doubt, it spans 3 continents thousands of miles apart, while those in next-door neighbours are left out.
What qualifies one to such an exclusive club, which also engages itself in discussions and deliberations of issues pertinent to the whole world? It represents just 10% of the world's population. It doesn't account for even half of the world's aggregated GDP. Still it has approportionated the world's wealth, for whatever reason. GDP less than 50% but wealth more than 50%, how is that possible?
The Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member." It is officially organized around shared values of pluralism and representative government,[1] with members making up the world's largest IMF advanced economies and liberal democracies.[2][3] As of 2020, G7 members account for over half of global net wealth (at over $200 trillion),[4] 30 to 43 percent of global gross domestic product,[n 1] and 10 percent of the world's population (770 million people).[5] Members are great powers in global affairs and maintain mutually close political, economic, diplomatic, and military relations.