G8

Article

May 29, 2022

The summit of eight major countries, or Group of Eight (abbreviated as G8), is a conference of eight major countries (USA, Japan, Germany, UK, France, Italy, Canada, Russia) leading the world's politics and economy. It was a meeting. Also, every year, the heads of state met to discuss political and economic issues. The meeting is chaired by each country every year, and the summit is held in the chair country. France established the G5 Summit in 1975, and it was launched as a gathering of five advanced countries, including the United States, Japan, West Germany, the United Kingdom, and France. was held After the 1990s, with the dissolution of the Cold War structure, Russia, the largest country in the world, began to participate in the form of an observer. However, in 2014, due to the annexation of Ukraine and Crimea, Russia was deprived of its duties and was expelled from the G8 meeting and was renamed the G7 again.

History

The G8 meeting began in 1973 during the first oil crisis and the global recession that followed. In the winter of 1973, U.S. Treasury Secretary George Schultz invited the finance ministers of future G6 countries to a social gathering by the fireplace in the White House. The following year, they had a meeting at the same place, and among the members, French President Valerie Giscardestin and West Germany's Helmut Schmidt, who became their heads of state, did not forget this atmosphere and proposed a regular meeting in 1975. The participating countries agreed to the proposal and agreed to hold an annual meeting, taking turns serving as the chairperson. The first meeting was held in Rambouille, France in 1975, and the name of the meeting was marked as G6 (Group of Six), which symbolizes six advanced countries, and the founding members were the United States, West Germany, England, Italy, Japan, and France. The following year, the meeting held in Puerto Rico in 1976 was changed to G7 (Group of Seven) as Canada participated at the invitation of US President Gerald Ford. At first, under the atmosphere of détente, only economic issues were dealt with in order not to provoke the communist bloc and the Soviet Union, but when the Soviet-Afghan war broke out, the Italian summit in 1980 discussed the unity of the West to face the Soviet Union. Politics expanded the field of the agenda. From this point on, the initial social atmosphere disappeared and changed to business meetings. In 1991, as the Cold War structure was resolved, the Soviet Union (now Russia) began to participate in the meetings held after the G7 meeting. Since the 1994 Naples Conference in Italy, this gathering has been called the 'P8 (Political 8)' or 'G7+1' meeting. Russia officially participated in the Denver Conference in 1997, and the G8 was formed. Since the Cold War structure has been dismantled, the meaning of the word ‘Western’ has become ambiguous, and it is difficult to see Russia as an economically advanced country, so from then on, the name of the Summit of Western Developed Countries will not be used, and Russia will be excluded from the Finance Ministers’ Meeting due to Russia’s economic situation. Today, the G7 is also used as a term to refer to this meeting of finance ministers. In addition to the official member countries, the chairman of the European Commission has been participating every year since the G7 on behalf of the European Union, and recently major countries such as Brazil, India and China have been invited to participate as observers. At the 2008 conference in Japan, Korea, Australia and Indonesia from the Asia-Pacific region were invited, and in 2009, Italy