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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 am not sure why Brazil, India or China will turn down a seat at the G8 if offered; just my 2-cents worth; i mean sure they are friends with Russia but still, there are no real friends in international relations.
It won't grow and all of the members will like to keep it that way.
The benefit of being in an exclusive club is precisely that.........it's exclusive.
Remember the G& is not just the largest advanced economies in the world but also the chief banking centres as well. Banks run this planet and they are overwhelmingly represented by these few countries. All have a lot of old wealth and the power and influence that goes along with it.
The more countries they allow in the less it's relevance will be. The G20 certainly represents a lot more people, a much larger GDP base, and the emerging economies but that's one of the reasons the G& will remain..........it is a place to reinforce and implement the powerful interests of the old wealth economies. It's a way to hinder the rising importance of other countries especially the BRICS.
The G7 may technically be an economic forum but it has evolved far beyond that. All of these countries have relatively similar political and foreign views and the 4 BRIC countries would throw a wrench in that. All of these countries have military pacts with the US so again having a country that doesn't would inhibit those countries ability to dictate world economic, political, social, and military policy.
People say it has diminished value but at the same time there is not a single country on the planet that would refuse an offer of joining i9t will speaks volumes of it's potent influence.
Russia leave the G8, and i think may be did not return.
Without chainging G8 itself.
I think so too; G8 would just become less important.
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