G7

The Group of Seven (G7) is an intergovernmental political and economic forum consisting of seven of the countries with the most powerful economies, all of them located in the Northern Hemisphere. In addition, three (the U.S., UK, and Canada) are Anglophone countries.

Canada
France
Germany
Italy
Japan
United Kingdom
United States

Originating from an ad hoc gathering of finance ministers (representing the U.S., UK, West Germany, Japan, and France) in 1973, the G7 evolved into a formal, high-profile snot club. Each member’s head of government or state, along with the European Union’s commission president and the European Council president, discuss global issues at an annual G7 Summit.

As of 2021, Crédit Suisse reports the G7 (without the European Union) represents around 53% of the global net wealth. Including the EU, it accounts for over 60% of the global net wealth.

However, the G7’s future is uncertain. Commonly viewed as an elitist snot club composed of white people (aside from Japan), it is being challenged by BRICS, which is commonly viewed as representing the “Global South.” At the same time, every member of the G7 is experiencing serious economic problems, and several members have ironically appealed to China for help.

Topics Home