groups - 6

The Group of Seven (7)

serves as a forum for highly industrialized democracies to coordinate economic security, and energy policy.

The Group of Seven (7)

• There is no formal criteria for membership, but the participants are all developed democracies.

50, 70

• The aggregate gross domestic product (GDP) of G7 member states makes up nearly _ percent of the global economy in nominal terms, down from nearly _ percent three decades ago.

international economic exchanges

The group of seven or these countries determine the rules of _

G8

On 24 March, 2014, the G7 members cancelled the planned _ summit that was to be held in June of that year in the Russian city of Sochi

annexation of Crimea

The group of seven suspended Russia's membership of the group, due to Russia's _; nevertheless, they stopped short of outright permanent expulsion.

Sergei Lavrov

Russian foreign minister _ downplayed the importance of the decision by the U.S. and its allies, and pointed out that major international decisions were made by the G20 countries.

Rise of the G20

• It is a forum for finance ministers and central bank governors from nineteen of the world's largest countries as well as the EU, has surpassed that of the G7.

G20

• Emerging powers such as Brazil, China, India, Mexico, and South Africa, whose absence from the G7 was often noted, all belong to the _

80

• The group's member states represent about _ percent of global GDP and two-thirds of the world's population.

G20

• (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union) are members of _