G7 Health Ministers’ Meeting
The concept of a forum for the major industrialized countries of the capitalist world emerged before the 1973 oil crisis. On March 25, 1973, the United States Secretary of the Treasury, George Shultz, met with the finance ministers of West Germany (Helmut Schmidt), France (Valéry Giscard d’Estaing), and the United Kingdom (Anthony Barber) ahead of the upcoming meeting. meeting. meeting. meeting. Meeting in Washington, DC. Called an informal meeting.
The Group of Seven (G7) is an intergovernmental political and economic forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; Additionally, the European Union (EU) is a “non-counting member”. It is organized around shared values of pluralism, liberal democracy, and representative government.
The G-7 is not based on any treaty and has no permanent secretariat or office. It is organized through a presidency that rotates annually among the member states, in which the chairing state sets the group’s priorities and hosts the summit; Italy will hold the presidency for 2024. Despite lacking a legal or institutional basis, the G-7 is widely considered to have significant international influence;
The total population of the G7 countries is about 780 million (or about 10% of the world population), accounting for about 50% of the world’s nominal net wealth and about 30% of the world GDP by 2024.
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