All posts filed under: Global Governance

The Group of Seven (G7)

Taken from CFR Backgrounders   Introduction The Group of Seven (G7) is an informal bloc of industrialized democracies–the United States, Canada France, Germany, Italy, Japan, and the United Kingdom–that meets annually to discuss issues such as global economic governance, international security, and energy policy. Proponents say the forum’s small and relatively homogenous membership promotes collective decision making, but critics note that it often lacks follow through and excludes important emerging powers.   Russia belonged to the forum from 1998 through 2014–then the Group of Eight (G8)–but was suspended after its annexation of Crimea in March of that year. With tensions over Ukraine deepening, concerns over the eurozone’s economic future growing, and the larger G20 serving as an alternative forum, the future of the G7 bloc is unclear.