G7 and G8

• The G7 is a powerful group of HICs - USA, France, Germany, Italy, the UK, Japan, and Canada.
• They meet annually to discuss matters of global importance and concern.
• They were joined by Russia in 1998 to form the G8. However, Russia was suspended following its activities in Ukraine.
• The G7 is not a formal institution.
• The G7 was formed as a group of non-communist countries concerned about the rise in oil prices.
• Without Russia, the G7 represents a smaller proportion of the world's population
• Without China, it cannot claim to be a truly global organization.