What makes the G-20 different from the G-7 or G-8?
The G-7 and G-8 are similar, in that both consist of the richest nations (Canada, France, Germany, Italy, Japan, the UK and the US) and the G-8 also includes Russia. The G-7 does not hold annual meetings, whereas the G-8 does. This is a meeting of the heads of states of the aforementioned nation-states. “The G20 was set up after the Asian crisis in the 1990s led world leaders to conclude that there ought to be a forum for economic debate including a wider range of countries. It had its first meeting in 1999.” [link] Critics point out that expanding the group to 20 doesn’t change the problems with these exclusive gatherings. “The G20 does not have a charter and its debates are not public, making it an “undemocratic institution.” The alternative could allegedly be represented by an Economic Security Council within the United Nations where members should be elected by the General Assembly on their importance in the world economy but also to the contribution they are willing to provide to
