Group of eight (G-8),
Definition of Group of eight (G-8):
In 2014, Russia was suspended indefinitely from the group after annexing Crimea, an autonomous republic of Ukraine. As a result, the G-8 is now referred to as the G-7.
The Group of Eight (G-8) was an assembly of the world's largest developed economies that have established a position as pacesetters for the industrialized world. Leaders of member countries, the United States, the United Kingdom, Canada, Germany, Japan, Italy, France and, until recently, Russia, meet periodically to address international economic and monetary issues.
Forum of governmental leaders of eight large and industrialized nations. These eight nations are: US, Japan, Germany, France, Britain, Italy, Canada, and Russia. G-8 was known as G-6 until Canada joined in 1976, and after that was known as G-7. However, when Russia was invited to join in 1997, the group became known as G8. The group meets once per year at a special summit meeting in one of the eight countries. Responsibility for hosting summit meetings is determined through a rotation of member countries. This rotation occurs in the following order: France, United States, United Kingdom, Russia, Germany, Japan, Italy and Canada. In 2009, the host country will be Italy and in 2010, the host country will be Canada. In 2011, France will become the host country as the rotation starts over again.
The eight leading industrial nations (the US, Japan, Germany, France, the UK, Italy, Canada, and Russia), whose heads of government meet regularly.
How to use Group of eight (G-8) in a sentence?
- The Group of Eight (G-8) is an intergovernmental organization that meets periodically to address international economic and monetary issues.
- The G-8 is not an official, formal entity and, therefore, has no legislative or authoritative power to enforce the recommended policies and plans it compiles.
- The G-8 is now referred to as the G-7 because Russia, one of the original eight, was suspended from the group in 2014 after annexing Crimea.
Meaning of Group of eight (G-8) & Group of eight (G-8) Definition