Who is more powerful in G7 and G20, why Russia got out – know here

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Prime Minister Narendra Modi has gone to Hirashima to attend the G-7 (Group of 7 countries) meeting. Modi has gone there on the invitation of the PM of Japan. India has been invited by Japan as a guest in the G-7 group meeting. Japan is the current chair of this group and is hosting its summit. It is most interesting to know what is G-7 and G 20 and what is its threat on the global economy.

Why was the G7 made?

7 rich countries of the world together formed this group in 1975. During that time there was a crisis in front of the powerful countries, so the big political leaders took the initiative to make it by talking about opinions. Its main task is to investigate the issues related to political changes, economy and security happening in the world and to know how those changes affect the global economy. Whenever its meeting is held, top leaders and foreign ministers of powerful countries participate in it and make strategies by discussing the latest situation in the world. The ongoing war between Russia and Ukraine is a big issue on the agenda this time.

Who’s who in the group

According to the Global Policy Forum, the G7 includes the US, Japan, Germany, the UK, France, Italy and Canada. In 1998, Russia was also included in it, making this group G8. However, in 2014, Russia was again separated and this group remained as G7.

How powerful is the G 20

There was a big recession in Asia in 1999, then G 20 was formed. The main objective of this group is to give representation to the emerging economy. This is such a powerful group, which includes 20 emerging economies around the world. Its members include Argentina, Australia, Brazil, Canada, Germany, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States and the European Union. 85 percent of the world’s economy is included in this group.

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