It basically means that but they are formal, static groups. The group composition doesn't change based on rankings. Russia was invited into the G7 in the late 90s (and it became the G8) then formally expelled when they invaded Crimea in 2014.
Thanks for that clarification.
However, I'm still not quite sure how they came up with the "We're the top <insert number here> most powerful countries" claim, since it has always been so arrogant to me.
Also, how do they even choose which countries would be included in the club? For example, would Indonesia or the Philippines be part of a hypothetical G50? Why?
There's no objective metric at all. It was really just the most important economic allies of the US in 1975.
The G20 was partially founded in response to criticism that 7 countries were making economic decisions for the world. The G7 chose who was invited to join. Indonesia and the Philippines are both kind of members (permanent invitees) through ASEAN.
Thanks for your various additional info and clarifications on the topic!
Hey, thanks for this. I'm Filipino but I've got no idea about that.
That it was an invitation only club was entirely the point.
It basically means that but they are formal, static groups. The group composition doesn't change based on rankings. Russia was invited into the G7 in the late 90s (and it became the G8) then formally expelled when they invaded Crimea in 2014.
Thanks for that clarification.
However, I'm still not quite sure how they came up with the "We're the top <insert number here> most powerful countries" claim, since it has always been so arrogant to me.
Also, how do they even choose which countries would be included in the club? For example, would Indonesia or the Philippines be part of a hypothetical G50? Why?
There's no objective metric at all. It was really just the most important economic allies of the US in 1975.
The G20 was partially founded in response to criticism that 7 countries were making economic decisions for the world. The G7 chose who was invited to join. Indonesia and the Philippines are both kind of members (permanent invitees) through ASEAN.
Thanks for your various additional info and clarifications on the topic!
Hey, thanks for this. I'm Filipino but I've got no idea about that.
That it was an invitation only club was entirely the point.