The Group of Seven (G7, according to “modern” scribblings)
is a group consisting of the finance ministers and central bank governors of
seven major advanced economies as supposedly reported by the international
monetary fund. These countries: Canada, France, Germany, Italy, Japan, the
United Kingdom, and the United States meet PRIMARILY for a general holiday and to some minor extent to discuss economic
issues in the ‘Western World as laid out by the United States of the Americas. The European Union is also represented within The
Group of Seven (not the Canadian Artists). According to THE WESTERN WORLD
INTERNATIONAL MONETARY FUND, the Group of Seven Countries represent more than
sixty four percent (64%) of the net GLOBAL wealth ($263 trillion, in the
Western World).
Ranking Country Approximate GDP- Purchasing Power Parity
1 United States of America $14,624,180,000,000 (that is
$14.6 trillion dollars if you are trying to count zeros)
2 China $10,084,370,000,000
3 Japan $4,308,630,000,000
4 India $4,001,100,000,000
5 Germany $2,932,040,000,000
6 Russia $2,218,760,000,000
7 Brazil $2,181,680,000,000
8 United Kingdom $2,181,070,000,000
9 France $2,146,280,000,000
10 Italy $1,771,140,000,000
NOTICE: IN ALL REALITY, CANADA DOES NOT RANK.
The MODERN DAY Group of Seven organization was originally
founded to facilitate shared macroeconomic initiatives By Its Self-Appointed
Members in response to the collapse of the exchange rate 1971, during the time
of the Nixon (former president of the United States of the Americas) Shock, the
1970s energy crisis and the ensuing recession. Its goal was fine tuning of
short term economic policies Among Participant Countries to monitor
developments in their world economies and assess economic policies.
This Group of seven has long been criticized for their
representational deficit, because it does not include the major emerging
economies, Brazil and India, nor THE CURRENT WORLD'S second LARGEST ECONOMY,
(historically for several thousand years the largest and MOST influential
economy) CHINA.
Walden Bello calls the Group of Seven AN UNDEMOCRATIC
INSTITUTION. The Group of Seven decision making process has been described
(like most government and political practices in the Western World and all IN
Canada and the rest of North America) as non-transparent. There are two methods
of GDP calculation: nominal GDP attempts to compare countries using current
exchange rates to give an assessment of their clout within the global market.
This naturally biases countries with stronger currencies.
Purchasing Power Parity or PPP GDP, on the other hand, tries
to take into account that one dollar can buy more in some countries and less in
others. It is a better gauge of the internal size of each market.
In the nominal GDP method, we can see that the developed
world leads the pack, but that China has already broken into this exclusive
club, and is now the second largest economy in the world by both measures.
When we look at PPP GDP, all of the BRIC countries (China,
India, Brazil and Russia) are all within the top 10—Canada is not. GET REAL, IT
IS RUSSIA THAT SHOULD BE SAYING THAT CANADA DOES NOT BELONG.
If we are ever to achieve a "GLOBAL economy, under a
GLOBAL flag, great changes have to transpire; because to most of the world,
(primarily China and the United States of the Americas)Canada is presently
considered as nothing more than an inexpensive WAREHOUSE in which to to store
THEIR resource materials.
Vladimir Putin is not welcome at the G7 and Canada's Stephen
Harper wants to keep it that way. The Conservative prime minister told
Associated Press in an interview ahead of the summit that Russia should not be
welcomed back to the G7 fold until Putin is gone.
"I don't think Russia under Vladimir Putin belongs in
the G7. Period," Harper said. "Canada would very, very strongly
oppose Putin ever sitting around that table again. It would require consensus
to bring Russia back and that consensus will just not happen."
The prime minister said Russia is far from like-minded.
"Russia is more often than not trying deliberately to
be a strategic rival, to deliberately counter the good things we're trying to
achieve in the world than for no other reason than to just counter them,"
Harper said.
Harper described Putin, a former KGB agent, as having a Cold
War mind set. He also said Western nations need to take Russian military
aggression, including increased military flights near North American airspace,
seriously.
"This is a country that has shown a willingness to
invade its neighbours, to actually seize territory that does not belong to it,
and so I don't think we should take this escalation of a hostile military
posture lightly. It needs to be treated seriously," Harper said. Among world leaders, Canada's Harper has
taken the strongest stand against Putin. In addition to sanctions and sending
military trainers to Ukraine, Harper has also lent moral support to Ukraine
including making yet another visit to Kiev ahead of the G7 meetings.
Last November in Australia at the G20 summit, Harper
responded to Putin stretching out for a handshake by coldly saying, "I
guess I'll shake your hand but I have only one thing to say to you, you need to
get out of Ukraine."
Russia claims it did nothing illegal in seizing Crimea with
military force. In their reporting on Harper's comments the Russian propaganda
network RT put quotations around the words "illegal annexation" when
describing Crimea and claimed it was all done peacefully via referendum.
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