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G7 Countries 2021 What is the G7′ Purpose?

by Financial Economy

G7, the Group of Seven, is an association of the world’s seven largest economies. The seven members of the group are the USA, France, Germany, Italy, Japan, Canada and the UK. G7 member countries account for 64 percent of global wealth. Do G7 countries include China, G7 countries 2021 What is the G7 and you can find what you wonder about the G7 in the rest of the article. The information is given about, what is G7, G7 establishment, G7 countries and G7 purpose, G7 countries studies in this article.

G7 Countries 2021 What is the G7′ Purpose?

In 1975, 6 countries, France, West Germany, Japan, USA, United Kingdom and Italy came together and the G6 Group was formed. In 1976, Canada joined the G6 Group, which was established unofficially in the first place and brought the oil crisis to the agenda, which was an important problematic of the period, and after this date it was called the G7 Group. The G7 Group is the 7 developed and major economies determined by the International Monetary Fund (IMF). The European Union is also represented in this group.You can browse here for Belgium Brussels Stock Exchange BEL20 companies.

The main characteristics of being among the G7 member countries are the very high national human development index and net national income. G7 countries represent 46 percent of global gross domestic product. In addition, G7 countries constitute 64 percent of international wealth. When the EU is included in this calculation, the ratio exceeds 70 percent. Although the People’s Republic of China is the third richest country in the world, it is not included in the G7 group. The reason for this is that the IMF and other important international organizations do not see China as a developed country. The aim of the G7 Group is to direct the country’s economy and evaluate its economic policies by making arrangements in short-term economic policies among the member countries.

G7 Countries Studies

Since its establishment, G7 countries have been meeting once a year to evaluate economic policies. The G7 countries launched an initiative in 1996 aimed at 42 poor countries in the world. In 1999, the G7 Group decided to take an active role in the management of the international monetary system. Again, in 1999, he started a project to erase the debts of heavily indebted countries to other countries. The G7 Group expresses its opinion on important economic and non-economic issues occurring all over the world and takes action when deemed necessary.

For details: https://en.wikipedia.org/wiki/Group_of_Seven

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