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Old 02-06-2015, 11:49 PM
 
Location: Taipei, Taiwan
6,549 posts, read 4,678,598 times
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Quote:
Originally Posted by LINative View Post
Now that Russia is out for now, I would hope that in the future the G7/G8 would stay exclusively as Democracies.

Nothing against a fellow Anglo country like Australia, but I think INDIA, South Korea and Brazil should come first because of their larger size.
Australia's economy size is not much smaller than India's and is considerably larger than South Korea's.
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Old 02-06-2015, 11:57 PM
 
Location: Toronto
12,581 posts, read 10,430,934 times
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Quote:
Originally Posted by Greysholic View Post
Australia's economy size is not much smaller than India's and is considerably larger than South Korea's.
I don't think you can say that - particularly if you are referring to nominal GDP numbers... The gap between India and Australia is larger than between South Korea and Australia.

http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal)
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Old 02-07-2015, 12:36 AM
 
Location: Taipei, Taiwan
6,549 posts, read 4,678,598 times
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Quote:
Originally Posted by fusion2 View Post
I don't think you can say that - particularly if you are referring to nominal GDP numbers... The gap between India and Australia is larger than between South Korea and Australia.

http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal)
Oh yeah, I wasn't right, but my point was that the economy size of Australia isn't small by any means.
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Old 02-07-2015, 12:52 AM
 
2,143 posts, read 1,040,079 times
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Quote:
Originally Posted by Irene-cd View Post

wow the G8 is truly representative of the world HAHPHAHAAHAHAHAHAHA

Another western organization full of thieves, and war mongering countries funding wars on foreign soil to benefit!
You need to wake up. Bush has said in the G20 meeting at Washington that G20 replaced G8 as the main forum for discussing with global economic affairs.

What is with your sentiment with the G8 or G7? G7 is meant to represent developed economies only.
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Old 02-07-2015, 12:54 AM
 
2,143 posts, read 1,040,079 times
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Quote:
Originally Posted by Greysholic View Post
Oh yeah, I wasn't right, but my point was that the economy size of Australia isn't small by any means.
With the depreciation of AUD, South Korea's economy will surely surpass that of Australia's. Even Mexico is getting close and will surely overtake Australia's as a matter of time.
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Old 02-07-2015, 03:27 AM
 
893 posts, read 540,090 times
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Quote:
Originally Posted by Daywalk View Post
With the depreciation of AUD, South Korea's economy will surely surpass that of Australia's. Even Mexico is getting close and will surely overtake Australia's as a matter of time.
Currency devaluation will also hit Canadian nominal GDP. Both currencies have pretty much followed the same trajectory over the last few years, but that includes increases against the Euro over the last year.
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Old 02-07-2015, 04:07 AM
 
Location: Russia
303 posts, read 193,629 times
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Quote:
Originally Posted by LINative View Post
Now that Russia is out for now, I would hope that in the future the G7/G8 would stay exclusively as Democracies.
Russia is a democratic country)

Quote:
Originally Posted by Daywalk View Post
What is with your sentiment with the G8 or G7? G7 is meant to represent developed economies only.
I would say for sure - not the "developed" countries, but stopped in development. "Developing" countries are characterized by the fact that their economies are growing rapidly. "Developed" countries could be called so, when their economy was stronger, then we could talk about a limit of development, but now "developing" countries, the economy is much better developed than the "developed" countries, and continues to evolve further. So G7 at the moment is nothing. Even Russia's representation is not enough, that would be the format of G earned. There must be both China and India, as a minimum.


ps. sorry fo taftoligy.
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Old 02-07-2015, 04:39 AM
 
Location: Taipei, Taiwan
6,549 posts, read 4,678,598 times
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Quote:
Originally Posted by Amok View Post
Russia is a democratic country)
Joke of the year. Lol.

Last edited by Greysholic; 02-07-2015 at 04:49 AM..
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Old 02-07-2015, 05:22 AM
 
Location: Russia
303 posts, read 193,629 times
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Quote:
Originally Posted by Greysholic View Post
Joke of the year. Lol.
Oh, realy? underachiever of the year, lol.
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Old 02-07-2015, 08:38 AM
 
Location: On the Great South Bay
6,810 posts, read 9,368,651 times
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Quote:
Originally Posted by Greysholic View Post
Australia's economy size is not much smaller than India's and is considerably larger than South Korea's.
Quote:
Originally Posted by fusion2 View Post
I don't think you can say that - particularly if you are referring to nominal GDP numbers... The gap between India and Australia is larger than between South Korea and Australia.

http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal)
For how much longer?

Fusion is right. India is growing by leaps and bounds. And with a population of over one billion people (compared to Australia with about 20+million) will probably rapidly leave Australia in the dust. I am not thinking of just now but also what the situation will be like 10 or 20 years from now.

I see nothing wrong with letting India, Korea, Australia and even Brazil in. The only requirement should be that they have a major economy and they should be a Democracy. The G20 in contrast could be open to all.
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