Tag: gdp

The first G6 meeing in 1975 was preceded by several less formal meetings. These first summits’ prelude was the oil crisis and economic recession of the early 70s. Big industrial countries first came together to discuss solutions to those. The wealth of the 8 wealthiest countries of the world are taken into account by their net wealth instead of GDPs. If we check recent figures of several economic indicators we find that the G8 doesn’t represent the wealthiest nations adequatly anymore.                  Still notable that the summed GDPs of the G8 countries add…