G7

The G7 Countries

Fig. 2 – The G7 Countries.

There are seven countries within the Group of Seven, hence the title. These countries are:

• The United States

• The United Kingdom

• Italy

• France

• Germany

• Canada

• Japan

Members of the G7

The Group started with six members before eventually growing to include eight. The Russian Federation joined the Group in 1998 but was suspended in 2014 after the annexation of Crimea. Since then, Russia has formally left the grouping.

Origins of the G7

The history of the G7 goes back to the early 1970s, when the leaders of the United States, United Kingdom, France, Japan, and West Germany, met in Paris to discuss the oil crisis and the global economic recession. After this, the French President of the time, Valery Giscard d'Estaing, decided to invite all the leaders of those countries and Italy to Rambouillet.

This second meeting took place in 1975³, including Italy making up a Group of Six. Subsequent summits also created a format for meetings between the countries' finance ministers in the grouping.

The G20

Fig. 3 – G20 Leaders video conference in 2020.

The Group of 20, known as G20, is an expansion of the G7 formed in 1999. It includes 19 countries and the European Union. These countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom (UK), and the United States, with Spain as a permanent guest.

The G20 grouping is designed to bring together the world's largest economies (including India and China) and the most populous countries on the planet. Between them, the G20 members represent two-thirds of the world's population.

G7 leaders

The leaders of the G7 are the heads of government of the seven member countries. The following table states the current G7 leaders:

^{Table 1 – G7 Leaders.}

As all the G7 countries are advanced democracies, the composition of the G7 leaders often changes as new heads of government are elected. The leader who has served the G7 grouping the longest is Justin Trudeau, who has been in office since 2015⁴.

The presidency of the G7

The G7 presidency is a temporary role given to the country's leader to host the next G7 Leaders' Summit. The President acts as the host for around a year. This presidency then rotates among the members annually following the order set down during the Group's initial formation:

1. France

2. The United States of America

3. The United Kingdom

4. Germany

5. Japan

6. Italy

7. Canada

The G7 Summit

The G7 Summit is an annual event where leaders meet to discuss fundamental global challenges and possible ways to tackle them.

The last meeting of the G7 occurred in Elmau, Germany, between the 26th and 28th of June, 2022. The G7 leaders addressed the following points in a joint declaration⁶:

• Condemning the Russian invasion of Ukraine, emphasising the need for financial and military aid for Ukraine. The G7 members also promised to continue economic sanctions against Russia and support Ukraine as much as possible.

• Helping to stabilise and transform the global economy whilst also tackling inflation and the rising cost of living.

• Taking immediate coordinated actions to stop the surge in the price of oil and other commodities caused by "extraordinary market conditions".

• Creating a Climate Club by the end of 2022, focusing on tackling climate change and furthering the transition to greener energy sources.

• Mobilising over 600 billion USD through the Partnership for Global Infrastructure and Investment to tackle the global investment gap.

• Promote human rights, address disinformation and achieve gender equality.