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G8 and G20

G8 and G20. Max, Connor, Loyan and Wilhelm International Business 2013 Mr. Clark. The G8. Founded in 1975, Rambouillet , France established as G6 Canada joined in 1976, Russia in 1998 and was named G8 G8 consists of all members meeting once a year on a rotational basis

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G8 and G20

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  1. G8 and G20 Max, Connor, Loyan and Wilhelm International Business 2013 Mr. Clark

  2. The G8 • Founded in 1975, Rambouillet, France established as G6 • Canada joined in 1976, Russia in 1998 and was named G8 • G8 consists of all members meeting once a year on a rotational basis • Original members: France, Germany, Italy, Japan, UK, US • Canada has hosted 5 G8 summits

  3. The G20 • There are 43 countries in the G20, however only 20 members • G20 encompasses 90% of the world’s gross national product, 80% of international trade and 66% of the globes population. • Canada has hosted 3 G20 summits • Costs nearly $1,000,000,000 to host a summit due to security needed to relieve violence and riots • 90% of the cost is put toward paying security for the duration of the summit

  4. Advantages/Disadvantages • - Allows world leaders to assemble to discuss world economic issues in a similar matter and come to a general consensus (PRO) - Allows for leaders to make decisions to help their respected economies (PRO) • - G8 & G20 are very expensive to operate, and usually cost the host country $1,000,000,000. 90% of this cost is a result of hiring many security personnel and officers to protect the world leaders. (CON) • Usually the G8 & G20 are a main influence leading to violence and riots in the host country, which is the reason for lots of security (CON)

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