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Fri 8 Jul, 2005 11:55 am
Hi,
i have some query
1) is G-8 is a part of G-20 ? I know G-8 is UK,Germany,France..in total 8 countries.
similarly, G-20 is also a collection of 20 countries.
does G-8 has any relationship with G-20 ? if so, why they have chosen to get separate names if they belong to same forum ! i just confuse about this two different naming.
2) You know, Uruguay has just taken the membership of 21 st member of G-20 group..... but still, the group is not called G-21....why ?....is not it peculiar ?
You can find a lot of info (and the answers, I think, to your questions) at the
G20 - website.
(Giving the link is easier than doing a summary :wink: )
Lot of bureaucratic language on there, but this is probably the bit you wanted to know (at least re: question 1):
Quote:G-7 membership is limited to the world's seven largest western economies (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States). Emerging-market countries are not involved in this dialogue. But without the emerging-market countries the G-7's legitimacy and influence are constrained when dealing with issues which relate to development in the overall international economic and financial system. [..] The creation of the G-20 was designed to meet the need for closer cooperation between industrial and emerging-market countries.
So the G-7 would be the largest western economies, but they set up a larger group, the G-20, so they could also sometimes discuss things with all the countries in the second tier, 13 more countries that are up and coming now.
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