FinancePoliticsWorld Events

G7 Summit 2016 – Is the G7 Obsolete?

The Group of Seven (G7) is an informal alliance between the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom who meet annually to discuss global economic governance, international security, and global energy concerns.

Japan is hosting the meetings this year. with various foreign ministers from each country meeting at various locations and dates, as listed below:

  • April 23-24 – G7 Agriculture Ministers (Niigata)
  • April 29-30 – G7 ICT Ministers (Takamatsu City)
  • May 1-2 – G7 Energy Ministers (Kitakyushu)
  • May 14-15 – G7 Education Ministers (Okayama)
  • May 15-16 – G7 Environment Ministers (Toyama)
  • May 15-17 – G7 Science & Technology Ministers (Tsukuba, Ibaraki)
  • May 20-21 – G7 Finance Ministers & Central Bank Governors (Sendai)
  • May 26-27 – G7 Summit (Ise-Shima)
  • September 11-12 – G7 Health Ministers (Kobe City)
  • September 24-25 – G7 Transport Ministers (Karuizawa Town)

Why is any of this relevant?

The G7 morphed into the G8, briefly including Russia from 1998 to 2014, and then returning to its original G7.  Although they boast a great agenda, as indicated above, they have become largely ineffectual, according to the Council on Foreign Relations.

Today, the more inclusive G20 is seen by some as the “premier forum for global economic coordination.”  And, coordinate they do…policies, regulations, guidelines…meddling intentionally outside the construct of the elected representatives within their respective governments.

In part, their decision making efforts can be witnessed by the coordination of monetary policy among central banks since the 2008 economic crisis.  But, that only tells part of the story.

Although we still have the illusion of sovereignty among nations, true world power has been consolidated with the help of a select few, and many seats of the true power brokers may be visited in Switzerland (See here).

Every topic of discussion listed in the meeting agendas referenced above can be cross-referenced to agencies situated in Switzerland, and with a little effort, it is easy to connect to dots to all their counterparts throughout the world.

We are truly connected in ways most people cannot fathom.

The world is changing as borders and timelines are blurred, in great part due to technological advances in communications (i.e. The Internet).

Financial Markets churn results 24/7, as do news outlets.  Events happen in real time across the globe, and everyone has access.

With virtually instant access to world events, it becomes more and more difficult for the power brokers to shape the message.

Be prepared for global efforts to limit the free exchange of information.

 

Tell us (and others) what you think.

This is what others think

Help us improve the quality of our content by offering an honest rating and leaving a comment below.

User Rating: 5 ( 1 votes)
Show More

Related Articles

2 Comments

  1. The rest of the world never does appear to have our best interests included, does it? I think the big world players in economies considers the USA to have little to offer. We have a leader who is now asserting otherwise. Thank god, in so many ways.

    1. I agree. Thank God! As for those who want to endlessly bash President Trump, their comments are on the record. I personally believe he is the Cyrus of our day. God used Cyrus (of all ironies a Persian, as in Iran) to defeat Babylonian rule so Jerusalem and the Temple could be rebuilt. He can also use President Trump for His purposes.

Leave a Reply

Your email address will not be published. Required fields are marked *

Close
Close