The Group of Eight (G8) refers to eight highly industrialized nations - France, Germany, Italy, the UK, Japan, the US, Canada, and Russia. There are no formal membership criteria, but members are expected to be democracies with highly developed economies. The G8 aims to identify and address issues related to security, economies, climate change, and geopolitics. It comprises over half of global GDP but represents only 14% of the world's population. Criticisms of the G8 include that it focuses only on industrialized nations and is increasingly outdated. The Group of 20 (G20) includes 19 countries and the EU, representing about two-thirds of the global population and 85% of
The Group of Eight (G8) refers to eight highly industrialized nations - France, Germany, Italy, the UK, Japan, the US, Canada, and Russia. There are no formal membership criteria, but members are expected to be democracies with highly developed economies. The G8 aims to identify and address issues related to security, economies, climate change, and geopolitics. It comprises over half of global GDP but represents only 14% of the world's population. Criticisms of the G8 include that it focuses only on industrialized nations and is increasingly outdated. The Group of 20 (G20) includes 19 countries and the EU, representing about two-thirds of the global population and 85% of
The Group of Eight (G8) refers to eight highly industrialized nations - France, Germany, Italy, the UK, Japan, the US, Canada, and Russia. There are no formal membership criteria, but members are expected to be democracies with highly developed economies. The G8 aims to identify and address issues related to security, economies, climate change, and geopolitics. It comprises over half of global GDP but represents only 14% of the world's population. Criticisms of the G8 include that it focuses only on industrialized nations and is increasingly outdated. The Group of 20 (G20) includes 19 countries and the EU, representing about two-thirds of the global population and 85% of
ABPOLSCI 4A ■ The Group of Eight (G8) refers to the group of eight highly industrialized nations— France, Germany, Italy, the United Kingdom, Japan, the United States, Canada, and Russia. MEMBERSHIP
There are no formal criteria for membership,
member states are expected to be democracies and have highly developed economies. The G8, unlike the United Nations, is not a formal institution, and there is no charter or secretariat. Objectives of G8
■ To identify and work together on issues
pertaining to security, economies, climate change, Peace and geopolitical issues. ■ Develop framework for regulation for the above issues. The G8’s efficacy and influence
■ The G8 nations constituted, 55 percent of global gross domestic product.
■ The G8 nations comprise 53.0% of global nominal GDP and 42.5% of global GDP. ■ G8 ministers also meet throughout the year ■ Together the eight countries making up the G8 represent about 14% of the world population, but they represent about 60% of the Gross World product as measured by gross domestic product. ■ All eight countries being within the top 12 countries Criticism of the G8
■ Focus only on the needs of industrial rather
than developing countries. ■ G8 is increasingly an anachronism. ■ Lacks an administrative structure. GROUP OF 20 Ramon D. Villanueva Jr. ABPOLSCI 4A ■ The Group of 20 (G20) is an international forum that brings together the world's leading industrialized and emerging economies. Membership
The G20 membership comprises a mix of the
world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85 percent of global gross domestic product and over 75 percent of global trade. Which countries are members of the G20?
■ Argentina ■ Indonesia ■ Turkey
■ Australia ■ Italy ■ United ■ Brazil ■ Japan Kingdom ■ Canada ■ Mexico ■ United States of America ■ France ■ Russia ■ China ■ Germany ■ Saudi Arabia ■ South Africa ■ India ■ South Korea Objectives
■ Coordinated macro-economic actions to revive
the global economy, stimulate growth and employment. ■ Reform and improve financial sectors and systems. ■ Deal with Financial instability and lack of growth, the loss of trade, the loss of jobs that are hurting every continent. Impact of G20
■ World leaders discuss their work.
■ G20 economic growth improve lives of the poorest. ■ Disproportionate impact of the global crisis on the poor and vulnerable. ■ Dealing with jobs and employment Criticisms of G20
■ The G20 is more representative of the world as a whole and
accountability for decisions is less concentrated ■ Companies move to countries with lighter restrictions or protectionism. ■ It is a very odd organization. It doesn’t have any constitutional powers. ■ It is difficult enough to try and pass an idea to the entire government and public of a single nation where there are 20 nations. THANKYOU