The President of the USA recently announced his intentions to host the 46th G7 summit in-person, in contradiction to previous plans of conducting it remotely via videoconference. The summit, an annual event scheduled for June 10-12, 2020, at Camp David, United States, serves as a platform for seven of the world’s most industrialized democracies to discuss critical subjects. These include global economic governance, international security, and energy policy.
Group of Seven – A Closer Look
The Group of Seven (G-7) is a block consisting of France, Germany, Italy, the United Kingdom, Japan, the United States, and Canada. These countries are classified as advanced economies due to their high levels of wealth per capita, a feature that distinguishes them from countries like China, the world’s most populated nation and second-largest economy, which is not a member of this group.
Coming into existence in 1975, G-7 was briefly renamed G8 following Russia’s inclusion in 1997. However, after Russia’s expulsion in 2014 over the annexation of Crimea in Ukraine, the cluster reverted to its original moniker, G7.
Summit Participation
Summits under the G7 umbrella are held annually and hosted on a rotational basis by member nations. The hosting country is also responsible for setting the year’s agenda. The essential groundwork for these summits, including agenda-setting and follow-up meetings, are managed by sherpas, who usually are personal representatives or members of diplomatic staff.
Participants at G7 summits also include leaders from significant international organizations, such as the European Union, IMF, World Bank, and the United Nations.
Challenges and Criticism
While the G7 has proven influential, it isn’t without its challenges. Internally, disagreements persist, with the USA at odds with other members over import taxes and action on climate change. Criticism is also rife about G7 not accurately reflecting the present state of international politics and economics.
Notably missing from the G7 are any members from Africa, Latin America, or the southern hemisphere. Adding to these challenges is the rise of rapidly emerging economies like India and Brazil, neither of which are included in the G7.
India and the G7
India’s presence at the 45th summit in Biarritz, France, signifies its deepening strategic partnership with the G7 members and acknowledges its status as a major economic power. Despite having struggled with diplomatic relations with the European Union, India is seeing a better relationship emerge as part of its policy priority within the G7.
This association enables India to discuss core sovereign concerns such as trade, the Kashmir issue, and its relations with Russia and Iran. Furthermore, at these meetings, India has taken opportunities to express its stance on contentious issues like climate change, demonstrating a growing willingness to lead.
The Way Forward
For the G7 to maintain relevance, it must concentrate on key international problems such as terrorism, climate change, global trade, and internal conflicts between countries. Beyond providing a platform for discussion, the G7 should actively seek solutions for pressing global issues like poverty and disease eradication. This could include supporting economies at a global level and helping establish equal standards for each nation.
