G8 and G77: Membership and Global Impact

G8 AND G27
     G8 stands for “the group of eight” most industrialized, developed and richest countries in the world. In other words, it is an inter-governmental organization composed of the eight wealthiest developed countries on earth. The eight countries are: Canada, France, Germany, Italy, Japan, Britain, Russia and the United States. Russia is suspended from the organization in 2014 till date (when this research is being conducted) due to her roles in Ukrainian crisis with led to the annexation of Crimea by Russia which violates the sovereignty of Ukraine. Presently, G8 is made of 7 countries which made some analysts to refer to it as G7, but since Russia is not expelled from the group, the suspension will be lifted in due time.

       The G8 was originally known as the G6, later as the G7 before it metamorphosed into G8 (Obi, Ozor, and Nwokoye 2008:141). According to Bird (cited in Obi, Ozor and Nwokoye, 2008) the G8 formerly the G6 and the G7, is a forum created by France, Germany, Italy , Japan, the United Kingdom and the USA, but when Canada joined the group in 1976 it became G7. In the same vein, it changed from G7 to G8 when Russia joined the group in 1997. The member states usually meet once a year unless it is on extra-ordinary session to discuss economic issues and policies as they affect member countries specifically and the world at large.

Membership and Impact
        In terms of membership, G8, if not the smallest is one of the smallest inter-governmental in organization the world. As we have stated, it has only 8 member countries out of more than 194 countries in the world. In terms of impact, it is one of the most powerful inter-governmental organizations in the world. G8 represents the popular maxim of Vladimir Lenin that “fewer the better.”  What matters for them is not the number, but the quality of a country. The member states are the leading nations in areas of economic and political development in the world. According to Obi, Ozor and Nwokoye (2008; 144) G8 represents about 14% of the world population, but they represent about 60% of the Gross World Product as measured by Gross Domestic Product. Apart from China, all member states of the United Nations Security Council which is commonly known as Big 5 are members of G8. Also, with the exception of China, all the World Power countries which are known as Big 5+1 (i.e. five permanent members of the UN Security Council plus Germany) are members of G8. (see the UN and World Power).

G77
      G77- stands for the “Group of seventy-seven” developing countries. It is the direct opposite of G8 in terms of economic and political development. While G8 stands for the group of eight richest, industrialized and developed countries in the world, G77 represents the group of poor, underdeveloped and developing countries. The organization was established in 1964 by Seventy-Seven developing countries who signed the declaration that established it. The declaration is formally known as the “Joint Declaration of the Seventy-Seven Countries” after the convention of the United Nations Conference on Trade and Development (UNCTAD).

     The aim of the inter-governmental organization is to serve as a forum where mostly third world countries can use to promote their economic and political interests in the international arena.
Note: the member states of the G77 have increased up to 132 countries but its name remains G77 unlike G8 whose name varies when its members change.