Italy aims to expand G8 to include China, India, Brazil

[Marshal]

Italy aims to expand G8 to include China, India, Brazil
Italy aims to expand G8 to include China, India, Brazil | Business News | Reuters

ROME (Reuters) - Italy will champion the expansion of the Group of Eight leading industrial nations to include countries such as China, India and Brazil when it assumes the G8 presidency next year, its economy minister said.

"We can no longer wait ... to transform the G8 into the G14, to let China enter, to let India enter, to let South Africa, Mexico and Brazil enter," Giulio Tremonti said.

Tremonti earlier this month also said Italy aims to use its G8 presidency to spearhead new rules to avoid financial crisis such as the current one. He singled out tax havens and false accounting as two areas where tighter regulations were needed.

 

[Vinod2070]

To leave out these countries from the policy making of the world is a futile attempt.

Good that some countries are realizing that. The world has changed in the years since the world war. The decision making institutes need to reflect this change or risk being left redundant.

 

[maqsad]

The G8 is supposed to be a consortium of rich countries, meaning countries with a big PER CAPITA GDP due to their being heavily industrialized and highly educated. China and especially India do not have such high per capitas even though the size of their economies is big. The G8 is all about running developed economies and exploiting underdeveloped economies so I really do not see where India or even China and Brazil would fit in.

 

[Vinod2070]

You are presuming to speak for them, when the G8 countries themselves have realized quite the opposite.

The G8 does presume to set the economic agenda for the world, not just for themselves. They just can't do it any longer all by themselves and they know that.

You should be thinking of how to make Pakistan influential enough to be part of the decision makers of the world than trying to ridicule others.

It just appears the case of sour grapes otherwise.

 

[nitesh]

good move indeed, G 8 should be converted to G 14 so that more countries can participate constructively in various matters.

 

[Vinod2070]

This change is indeed painful for some countries who fear losing their place to the new upstarts (for them).

It is unavoidable though. The world balance of power is changing under our feet. Those who don't embrace the change will be left behind.

How long can a small cabal of countries who happened to emerge victorious from a war 63 years ago keep on deciding for the world?

 

[nitesh]

good point vinod, yes the world is changing. Slowly but surely. It is good to see Italy coming out from the old mentality. Same should be done with UN security council too. It should be extended to accommodate more members.

 

[Vinod2070]

The UN is becoming ineffectual for precisely the same reason. It is just so out of date.

It needs to represent the reality of the world as it exists now. Else it will be consigned to the dustbin.

Anyway its structure is imperfect. An African or Arab tinpot dictator of a tiny country has the same vote as a country of a billion people! The nations need to have representation in accordance with their population/economy etc.

 

[Marshal]

The G8 is supposed to be a consortium of rich countries, meaning countries with a big PER CAPITA GDP due to their being heavily industrialized and highly educated. China and especially India do not have such high per capitas even though the size of their economies is big. The G8 is all about running developed economies and exploiting underdeveloped economies so I really do not see where India or even China and Brazil would fit in.

where did you get this defination of G8??? any link..??
G8 is a group of 8 most industrialised nations......
Russia was inducted in to the G8 in 1998, at this point of time the Russian economy was completely collapsed and in chaose. their per capita was also on a lower site. and according to your defination Russia should not be inducted in G8.
Today India Brazil china Maxico all are included in the group of the top 15 highly industrialised states in the world....whose having a certain degree of influense in the global economy.. and some of these countries will soon overtake the bigger economies like UK france Italy canada and Germany within next 7 or 8 years and these are the main reason why all the G8 nation are advocating for the expanssion of the G8....

If you want some information regarding the back ground of G8 then refer to this linkUofT G8 Information Centre: What is the G8?

 

[Contrarian]

The UN is becoming ineffectual for precisely the same reason. It is just so out of date.

It needs to represent the reality of the world as it exists now. Else it will be consigned to the dustbin.

Anyway its structure is imperfect. An African or Arab tinpot dictator of a tiny country has the same vote as a country of a billion people! The nations need to have representation in accordance with their population/economy etc.

So if tomorrow South Africa wants to run over some small country, and it has to be (assume) approved in the UN, south africa would get 2 votes instead of the one enjoyed by xyz nation.

Thats just flawed mate. Even in India, do we give more than one vote to a person who has a high education and high income, or who's net worth is more than the rest?
The poorest of poor have one vote and the richest of rich in India also have one vote. Do you think its unfair?

 

[nitesh]

So if tomorrow South Africa wants to run over some small country, and it has to be (assume) approved in the UN, south africa would get 2 votes instead of the one enjoyed by xyz nation.

Thats just flawed mate. Even in India, do we give more than one vote to a person who has a high education and high income, or who's net worth is more than the rest?
The poorest of poor have one vote and the richest of rich in India also have one vote. Do you think its unfair?

malay, I think you have have got his point in correctly, he was saying that the countries should get preference according to there size, there economy and all. So some countries should be in UN security council permanently and others can be in general council where every one has equal voice.

 

[Vinod2070]

So if tomorrow South Africa wants to run over some small country, and it has to be (assume) approved in the UN, south africa would get 2 votes instead of the one enjoyed by xyz nation.

Thats just flawed mate. Even in India, do we give more than one vote to a person who has a high education and high income, or who's net worth is more than the rest?
The poorest of poor have one vote and the richest of rich in India also have one vote. Do you think its unfair?

That's the very point. One person, one vote. That is what I am advocating here.

Nations representing larger populations need to have a larger say than others. That is only democratic.

 

[Contrarian]

Roger....!

 

[maqsad]

You are presuming to speak for them, when the G8 countries themselves have realized quite the opposite.

They have not realized the opposite. Everyone knows that the per capita GDP of India is among the lowest in the world which means the proportion of poor, uneducated, unskilled workers is the highest in the world. I am familiar with the G8 charter and they were originally set up to only have rich capitalist countries which were heavily industrialized. The original charter has been changed but nobody has "realized the opposite" because everyone still knows that despite the size of the Indian economy it is still largely an underindustrialized economy when you count all billion people.

The G8 does presume to set the economic agenda for the world, not just for themselves. They just can't do it any longer all by themselves and they know that.

India really does not have anywhere near as much power in the world economy as China does. Not even half the power. Look at it's trade, totally dependent on western economies. I can see why China was invited but there is no point in inviting Brazil and India because their impact on global trade is neglible. There is something else going on with this G8 deal and I am not sure what it is.

You should be thinking of how to make Pakistan influential enough to be part of the decision makers of the world than trying to ridicule others.

It just appears the case of sour grapes otherwise.

Pakistan with only 160 million people does not need to be a world decision maker to justify itself. The world has more than 6 billion people so it is countries like China and India which should have been recognized as economic powerhouses long before ago. Especially India, the so called capitalist country which is also the largest democracy in the world. It's ridiculous to hold Pakistan up to the same standards with it's small population. The only decisions Pakistan should be concerned with are those for it's own welfare, such as setting it's own terms for trade.

 

[Vinod2070]

Well only if you were taking those decisions. You are not, so there.

The ones who are seem to know more, that's why they are where they are.

Pakistan is a small country only in relation to its two giant neighbors. Else it is the sixth largest by population in the world.

I can't imagine, I have to remind you of that.

P.S. There is only one member in the current G8 with more population than Pakistan.