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Old 06-09-2018, 03:20 PM
 
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I've read they now represents only 30% of world's GDP, is this true? Should US remain in, or withdraw and make it a G6?
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Old 06-09-2018, 03:51 PM
 
Location: Kansas/China
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They represent 32-42% of gdp. 60% of the worlds wealth. It’s a powerful group of friendly countries.
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Old 06-09-2018, 03:56 PM
 
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Well, people in many fields have useless conferences every year.. just to do social networking and have fun.
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Old 06-09-2018, 08:00 PM
 
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The smart thing would be to invite Russia back into it, regardless of differences. It is an important regional player. I disagree with most of Trump's policies, but he hit the mark there. Let's go back to having a G8.

Or we could scrap it altogether and stick with the G20. There are a number of rising economies that deserve some representation.
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Old 06-10-2018, 12:15 AM
 
Location: White Rock BC
161 posts, read 351,822 times
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Quote:
Originally Posted by 6oo9 View Post
I've read they now represents only 30% of world's GDP, is this true? Should US remain in, or withdraw and make it a G6?
It's already the G6..............Trump's latest Trudeau bashing episode took care of that.
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Old 06-10-2018, 12:24 AM
 
Location: White Rock BC
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Russia was kicked out of the G7 because it invaded Crimea. Also I am unsure if it should really be there any ways. The G7 is a group of democratic nations and relatively free economies while Russia is a de-facto dictatorship and the largest corporations are basically run and/or owned by the Kremlin.

As far as dissolving the G7 and just having the G20, that will never happen. It's akin to getting rid of the 5 permanent seats at the UN........why would the US/RU/Fr/Ch/UK give up that kind of power? Same for the G7. With the permanent UN Security Council, it is the most exclusive club in town. Just as the UN sets world political policy, the G7 effectively dictates world economic policy. Countries are like people, once they attain power they are loath to give it up.
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Old 06-10-2018, 12:46 AM
 
1,955 posts, read 650,153 times
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Originally Posted by ssiguy View Post
Russia was kicked out of the G7 because it invaded Crimea. Also I am unsure if it should really be there any ways. The G7 is a group of democratic nations and relatively free economies while Russia is a de-facto dictatorship and the largest corporations are basically run and/or owned by the Kremlin.

As far as dissolving the G7 and just having the G20, that will never happen. It's akin to getting rid of the 5 permanent seats at the UN........why would the US/RU/Fr/Ch/UK give up that kind of power? Same for the G7. With the permanent UN Security Council, it is the most exclusive club in town. Just as the UN sets world political policy, the G7 effectively dictates world economic policy. Countries are like people, once they attain power they are loath to give it up.
I'm no fan of Russia's policies and have criticized many of them on CD, both internal and external ones. However, they remain an important player on the world stage. Isolating them further is counterproductive.

You're right. I don't expect countries to willingly surrender power as it would only weaken them on the global stage.
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Old 06-10-2018, 02:26 AM
 
Location: Seattle WA, USA
3,424 posts, read 1,653,702 times
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Quote:
Originally Posted by Milky Way Resident View Post
I'm no fan of Russia's policies and have criticized many of them on CD, both internal and external ones. However, they remain an important player on the world stage. Isolating them further is counterproductive.

You're right. I don't expect countries to willingly surrender power as it would only weaken them on the global stage.
But if Russia was allowed to join the G7 why wasn’t China? China’s economy is way larger and way more important on a global scale.
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Old 06-10-2018, 02:43 AM
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Location: Ontario
6,266 posts, read 3,566,760 times
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Quote:
Originally Posted by Milky Way Resident View Post
I'm no fan of Russia's policies and have criticized many of them on CD, both internal and external ones. However, they remain an important player on the world stage. Isolating them further is counterproductive.

You're right. I don't expect countries to willingly surrender power as it would only weaken them on the global stage.
Nope. Trump is wrong.

G7 started as G6 in 1974. Remember, Soviet Union was the evil commie empire back then.

Canada was invited to join in 1977 making it the G7.

Russia became a side participant in 1994....G7 +1

Russia was invited to join in 1998, making it the G8.

Russia invaded Crimea, so was kicked out, now back to G7.

Trump wanting Russia to rejoin is a combo of usual Trump “stirring the pot” BS,
and maybe there IS some truth to Russian collusion
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Old 06-10-2018, 03:49 AM
 
1,955 posts, read 650,153 times
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Quote:
Originally Posted by grega94 View Post
But if Russia was allowed to join the G7 why wasn’t China? China’s economy is way larger and way more important on a global scale.
That's actually a fair point. I was only going by the original list, but China should be there as well as it's an even bigger player than Russia.
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