G7 countries used to focus on economic issues in all the summits they held since 1975, however, recently whatever hot-button issue that is on the agenda has overtaken economic issues to become the main theme of the group's summits of late.
After Russia joined the Group of Seven in 1998, this group became known as the Group of Eight. However, with Russia's annexation of Ukraine, Russia was again excluded from the group, and this group reverted back to being the G7 again.
As in the G-20 countries, this group acts as a non-executive initiative. When the Group of Seven, which consists of seven rich countries, is compared with the group formed by the G20 countries, it becomes clear that the Group of Seven is not as diverse as the Group of Twenty, and does not represent all groups of countries and continents.
Who are the member countries of the Group of Seven?
While Germany, France, Britain, Italy, Japan, Canada, and the United States are among the G7 countries, the European Union is also represented in the G7. It is worth noting that the member countries of this group control about half of the world's gross domestic product.
In short, the Group of Seven is referred to as the Group of Seven rich nations.
China, which has the world's second largest GDP, was unable to become a member of the G7 because they claimed that it has a relatively low per capita income due to its large population.
The G7 summit and its agenda
The G7 summit will be held from June 26 to 28 in Munich, Germany; Because Germany took over the presidency of the group this year.
There are very important issues that will be discussed at the G7 summit to be held in Germany. The summit is expected to address many important issues, particularly the Russian invasion of Ukraine, and the energy and food crisis caused by the Russian-Ukrainian war.
The G7 countries were at the fore in implementing many sanctions against Russia with the start of the Russian invasion of Ukraine. All member states of the group acted together in unison on economic sanctions against Russia, and the new decisions that the group will take, are critical to Ukraine's future.
With Germany taking over the group presidency this year, issues of security of energy supplies for European countries, Russia's use of energy as a threat against European countries, steps to be taken in the event of a halt in natural gas supplies, and a new roadmap in the fight against climate change are among The most important issues on the summit agenda.
Configurations and global issues
The main issue that comes to the fore when looking at the countries that form the group is economic wealth. In addition to economic affluence, it is important to consider other factors such as political influence, geographic wealth, and military power.
Therefore, representation from different groups of countries, different continents, different cultures, and different religions is crucial in order to overcome many global problems and issues.
It is clear that any initiative, or group that can provide representation with broad participation, will play a leading role in solving global financial problems, tackling climate change and poverty, and in short, making the world safer and more vibrant.