(Kajal Singh intern journalist): The G-7 is the elite club of seven developed countries in the world. Members of the G7 are Canada, France, Germany, Japan, Britain, Italy, and the United States.
US President Donald Trump has said two big things about the economically strong group of seven countries G-7. The first is that Trump has advised India, Russia, Australia, and South Korea to join this group. The second trump has announced to postpone the meeting of the G-7 countries by September.
Earlier this meeting was to be held from 10 to 12 June but in view of Corona, the meeting has been postponed. At present, the G7 countries include Britain, France, Canada, Germany, Italy, and Japan in addition to the US.
US President Donald Trump said, “I am postponing the G7 Summit because I do not think that it represents what is going on in the world.” This has become a very old group of countries. India, Russia, South Korea, and Australia should also be in this.
Know everything about G-7
Who are the members of G7?
Please tell that the members of G7 are Canada, France, Germany, Japan, Britain, Italy, and America. The G-7 is the elite club of seven developed countries in the world. Which determines the direction of the world economy. These countries occupy 40 percent of the world’s GDP.
Why the need for G-7 group arose
In the 70s, many countries were facing economic problems. First – the oil crisis and second – the break down of the system of fixed currency exchange rates.
The first meeting of the G7 was held in 1975, where possible solutions to these economic problems were considered. Member countries reached agreement on international economic policy and worked out solutions to deal with the global economic slowdown.
China is not part of it,
China is part of the G20, but not included in the G7. China is the world’s second-largest economy, yet not part of the G7. The reason for this is that China has the largest population and the per capita income wealth is much lower than that of G7 countries. In such a situation, China is not considered an advanced or developed economy.