Role of the G8

Role of the G8



Executive Summary

Formed in 1975, G8 consist on 8 members and these countries are quite strong on political as well as financial basis. Collective G8 nation comprise over 50% of the global Gross Domestic Product (GDP). Basic aim of G8 is to create peace in the world and make global policy. Association aims to reduce global food crisis and promise to contribute $20 billion in which 20% has been delivered. Another objective of G8 is to over global warming and energy issue. However, some criticism occurs that the association is not successfully able to achieve global warning, food and AIDS issues. Reason was considered that there are a number of conflicts occurs among members whenever G8 summit conference held. Currently, this association does not leave much impact on but there is a need to revised them to focus on a single objective and aim.

Executive Summary2

Introduction4

Discussion4

Role of G8 powers in determining global policy4

Analysis of difficulties in agreeing global commitments in these areas5

Critical evaluation of the economic decisions of G86

Just Talk Shows6

Fails to Set World Climate6

Fail to Resolve Africa Issue7

Analysis of potential problems in generating policies to deal with problems7

The G8 itself8

Limited Membership8

Secretive Meetings8

Aid solution9

Too Narrow9

Global Economy9

Global Health10

Africa Issue10

Lack of consultation10

HIV11

Structural adjustment11

Conclusion11

References12

Role of the G8

Introduction

The G8 made up of the eight most powerful economies of the world which include (UK, US, France, Germany, Canada, Italy, Japan) and Russia joined them in 1988 (Hajnal, 2013). They actually most influential and powerful countries since all of them almost possess more than 50% of the votes in at World Bank and IMF. The first summit held in year 1975 in which only 6 participants involved. Major purpose of the members is to resolve conflicts as promote peace between the member countries. They also aim to enforce the global economy policy and promote cooperation between member's countries on the issues of economy, finance and trade. However, their annual summits attract a number of criticism which increasingly now in the mainstream for failing poverty in the world. Issues that currently discuss in G8 summit conference are including energy crisis, activities related to terrorist and the war in Afghanistan and Iraq. Issue of Iraq and Iran create some major disagreement between the member countries (Pearce, et.al, 2012). It is unofficially indicates that United States considered being dominant member of G8 , because of its economical and political power.

Discussion

Role of G8 powers in determining global policy

The leader of G8 involved in the meeting once in a year in order to discuss existing issues and formulating the global policy to resolve  them. Annual meeting known as the G8 summit which is held in the different member country every year. These countries have possess some significance power in both International monetary fund (IMF) and world trade organization (WTO). It is though that these G8 nations decision making over the global economy may convert into the reality.Because of their economical and political power, G8 members show clear dominance throughout history in order to set global ...