Group of 8 nations made the mess, so why are 12 poorer countries so eager to help them clean up?

• In an effort to diversify the group and include the perspectives of increasingly powerful economies like those of India and China, the Group of 7 (recently a Group of 8) has decided to permanently expand to become the Group of 20.
• The financial crisis made it clear that global economic decision-making power could not be concentrated in the hands of a small group of relatively similar, largely Western economies.
• It’s not clear whether the new, larger economic forum will actually address issues of concern to the less wealthy new members (notably around international trade issues), or continue to focus on the crises and economic issues most relevant to the “old boys’ club.”

Facts & Figures

• The Group of 7 was comprised of the United States, Britain, Canada, France, Germany, Italy and Japan for more than 30 years. The addition of Russia in the 1990s made it a Group of 8.
• The new Group of 20 is actually made up of 19 countries plus the European Union.
• Besides the EU, the new member nations are: Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea, and Turkey.

Best Quote

“Leaders of the G-20 nations have an opportunity to clarify that legitimate government actions, like trade enforcement, are not acts of protectionism.” – Sherrod Brown, Democratic Ohio Senator