Why was the G7 formed, and how does it work?

Why was the G7 formed, and how does it work?
The Group of Seven (G7) has been a forum to coordinate global policy for fifty years, but experts are increasingly questioning the group’s relevance.
The G7 is an informal bloc of industrialized democracies-the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom (UK)-that meets annually to discuss issues such as global economic governance, international security, and, most recently, artificial intelligence (AI). Proponents say the forum’s small and relatively homogenous membership promotes collective decision-making, but critics note that it often lacks follow-through and excludes emerging powers.
Russia belonged to the forum from 1998 through 2014, when the bloc was known as the Group of Eight (G8), but the country was suspended following its annexation of Ukraine’s Crimea region. The G7’s future has recently been challenged by continued tensions with Russia and, increasingly, China, as well as by internal disagreements over trade and climate policies. But responding to Moscow and Beijing has also brought the bloc together. In a sign of renewed cooperation, the G7 has imposed coordinated sanctions on Russia over its war in Ukraine and launched a major global infrastructure investment program to counter China’s Belt and Road Initiative. The bloc’s fiftieth summit, held in southern Italy in 2024, is set to focus on the conflicts in the Gaza Strip and Ukraine, migration, climate change, and AI.
Source www.cfr.org
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