G 8 countries

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G- 8 Countries

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G 8 countries

  1. 1. G 8 Countries
  2. 2. What is G-8 <ul><li>It is a group of industrialised countries formed at the initiative of France in 1975 . </li></ul><ul><li>To address the first issue of oil crises in 1975. </li></ul><ul><li>The Group of Eight (G8) refers to the group of eight highly industrialized nations--France, Germany, Italy, Great Britain , Japan, United States, Canada, and Russia--which hold a yearly meeting, the G8 Summit . </li></ul><ul><li>The main industrialized countries taking part in this process are known as the Group of Eight (G8). </li></ul>
  3. 3. Introduction :- <ul><li>An annual Summit at which the Heads of State and Government of the member countries hold talks with a view to finding solutions of the main world issues. </li></ul><ul><li>France, the United States and Russia are represented by their Heads of State, whereas the United Kingdom, Germany, Japan, Italy and Canada are represented by their respective Heads of Government. </li></ul><ul><li>The eight members meet once a year at Heads of State and Government level. </li></ul><ul><li>Meetings are intended to foster consensus on global issues such as economic growth and crisis management, global security, energy, and terrorism. </li></ul>
  4. 4. Membership <ul><li>The Group of Eight ( formerly the G6) is a forum, created by France in 1975, for the government of six major countries ie is </li></ul><ul><li>France, Germany, Italy, Japan, the United Kingdom and the United States. </li></ul><ul><li>In 1976, Canada joined the group (thus creating the G7). </li></ul><ul><li>In 1997, the group added Russia thus becoming the G8. </li></ul><ul><li>Member nations are generally expected to have highly-developed economies and be democracies. </li></ul><ul><li>The G8, unlike the United Nations, is not an organization or institution, and there is no formal charter or secretariat. </li></ul>
  5. 5. Presidency & Summit <ul><li>The G8 is chaired on rotational basis for a period of one year in the order of France, United States, United Kingdom, Russia, Germany, Japan, Italy and Canada. </li></ul><ul><li>The European Union participates in the G8 as an observer; it is represented at the Summit by the President of the European Council and the President of the European Commission. </li></ul><ul><li>The country that has the presidency organizes and hosts the Summit. </li></ul><ul><li>France has hosted the summit on six occasions, in 2011 also it had hosted the summit . </li></ul>
  6. 6. Summit <ul><li>It is the meeting of the representatives of the member countries organized on annual basis. </li></ul><ul><li>It provides an opportunity for direct and informal discussion among the leaders on key issues. </li></ul><ul><li>It results in the adoption of a political statement, possibly accompanied by additional statements, sectoral action plans. </li></ul><ul><li>For the last few years G8 had been inviting rep. of African and other countries. </li></ul>
  7. 7. Member facts <ul><li>All G8 countries are amongst the thirteen top-ranked leading export countries. </li></ul><ul><li>The USA, Germany, Italy, France, Russia and Japan are among the top 10 countries with the largest gold reserves. </li></ul><ul><li>Acc. IMF, G-8 countries are represented in the top eleven economies (by nominal GDP) of the world. </li></ul><ul><li>  World's 10 largest oil producers (Russia, USA, and Canada) </li></ul><ul><li>The third and eighth largest oil reserves (Canada and Russia respectively). </li></ul><ul><li>  Nine largest nuclear energy producers are in the G8 (USA, France, Japan, Russia, Germany, Canada, UK). </li></ul><ul><li>All of the G8  countries are ranked by the amount of voting power and Special Drawing Rights (SDRs) in the IMF organization. </li></ul>
  8. 8. Objectives of G8 <ul><li>To identify and work together on issues pertaining to security ,economies , climate change , Peace, geo political issues. </li></ul><ul><li>Develop framework for regulation for the above issues. </li></ul><ul><li>It is not a legal entity and does not take binding measures. </li></ul>
  9. 9. The G8's Efficacy and Influence <ul><li>The G8 nations constituted 55 percent of global gross domestic product (GDP); by 2004, this figure had decreased to 44 percent. </li></ul><ul><li>The G8 nations comprise 53.0% of global nominal GDP and 42.5% of global GDP (PPP). </li></ul><ul><li>G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers. </li></ul><ul><li>Together the eight countries making up the G8 represent about 14% of the world population, but they represent about 60% of the Gross World Product as measured by gross domestic product. </li></ul><ul><li>All eight nations being within the top 12 countries according to the  CIA World Factbook - ( Central Intelligence Agency ) </li></ul>
  10. 10. Criticism of the G8 <ul><li>Focus only on the needs of industrial rather than developing countries. </li></ul><ul><li>G8 is increasingly an anachronism. </li></ul><ul><li>Lacks an administrative structure – does not have a permanent secretariat, or offices for its members. </li></ul>
  11. 11. Expanding the G8 <ul><li>China and India, up-and-coming economic powers, are notable omissions from the G8. </li></ul><ul><li>As Richard Haass, President Council on foreign research argues, &quot;the G8 needs to become the G10. Both China and India deserve a seat.“ </li></ul><ul><li>China's inclusion, of course, would clearly mean the end of the G8 as a forum for leading democracies. </li></ul><ul><li>China and India do belong to the G-20, a forum of finance ministers and central bank governors created by the then-G7. </li></ul>
  12. 12. Highlights of 37 th G8 summit 2011-France <ul><li>Held between 26-27 May 2011 in Deauville , France </li></ul><ul><li>African countries Guinea, Niger, Côte d'Ivoire and Tunisia accepted their invitations for the first time. </li></ul><ul><li>League of Arab States made its debut to the meeting. </li></ul><ul><li>Key issues on the agenda : </li></ul><ul><ul><li>Fukushima nuclear accident </li></ul></ul><ul><ul><li>European sovereign debt crisis, </li></ul></ul><ul><ul><li>Conflict in Libya </li></ul></ul><ul><ul><li>Iran’s nuclear programme, </li></ul></ul><ul><ul><li>Syria’s crackdown on pro-democracy protests </li></ul></ul><ul><ul><li>Selection of a new managing director for IMF </li></ul></ul>
  13. 13. Highlights of 37 th G8 summit 2011-France <ul><li>$ 20 bn marked for Tunisia and Egyptian reforms affected by Arab spring. </li></ul><ul><li>OECD engagement in MENA countries. </li></ul><ul><li>Fight against corruption. </li></ul><ul><li>Renewed commitment to democratic reforms </li></ul><ul><li>Commitment to NPT. </li></ul>

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