Business School 101: G7 and G20

Which countries are part of the G7?

• Canada, France, Germany, Italy, Japan, UK, USA

• Norway, Sweden, Denmark, Finland, Iceland, Netherlands, Belgium

• China, India, Brazil, Russia, South Africa, Mexico, Argentina

• Australia, South Korea, Indonesia, Saudi Arabia, Turkey, Spain, EU

Why was Russia excluded from the G8?

• For not attending the annual summit

• Because of its low GDP

• For its takeover of Crimea

• Due to its economic instability

What was the original purpose of the G7?

• To create a new financial system

• To establish a global trade agreement

• To coordinate macroeconomic initiatives

• To promote cultural exchange

Which organization is a permanent guest at the G20?

• New Zealand

• Switzerland

• Norway

• Spain

How is the G20 presidency determined?

• By the United Nations

• By rotation among its members

• By the World Bank

• By election among member countries

What are the main topics discussed by the G20?

• Local governance, municipal services, urban planning

• Tourism, fashion industry, culinary arts

• Space exploration, cultural heritage, sports events

• Sovereign debt, global financial stability, economic growth

What was a focus of the 2022 Indonesian G20 presidency?

• Local governance, municipal services, urban planning

• Tourism, fashion industry, culinary arts

• Space exploration, cultural heritage, sports events

• Global Health architecture, digital transformation, sustainable energy transition

What is a criticism of the G20?

• It focuses only on economic issues

• It has too many members

• It is unable to solve global disputes

• It lacks a permanent secretariat

Why is the G20 considered inconsistent?

• It only meets once every five years

• It has a fixed agenda every year

• Different host countries add new topics to the agenda

• It changes its members frequently

What is a benefit of G20 summits despite criticisms?

• They focus solely on economic issues

• They always result in binding agreements

• They exclude non-member countries

• They offer opportunities to develop personal relationships among leaders