What is the Difference Between G20 and G8?

The G20 and G8 are both forums for international cooperation and discussion, but they differ in their membership, scope, and focus.

The G8, or "Group of Eight," consists of the most economically powerful countries in the world, including France, Germany, Italy, Japan, the United Kingdom, the United States, Canada, and Russia (until its annexation of Crimea in 2014). It was founded in 1975 and primarily focuses on political, economic, and security issues.

On the other hand, the G20, or "Group of Twenty," is a more inclusive forum that brings together 20 major economies in the world, including both developed and emerging economies. It was founded in 1997 and focuses primarily on financial matters and economic issues. The G20 members represent 85% of global economic output.

In summary, the main differences between the G8 and G20 are:

• Membership: The G8 consists of the most economically powerful countries, while the G20 includes major economies from both developed and developing regions.
• Focus: The G8 primarily focuses on political, economic, and security issues, while the G20 is centered on financial matters and economic issues.
• Inclusiveness: The G20 is more inclusive and representative of the global economy than the G8.

Comparative Table: G20 vs G8

The G20 and G8 are both summits of industrialized and developed countries, but they have some key differences. Here is a table comparing the two:

The G8 focuses more on politics and development, while the G20 primarily deals with global finance and economics. The G8 has fewer members and is an informal group of nations, whereas the G20 is a symposium of G8 nations along with 12 other countries, representing 85% of global economic output. Both summits have annual meetings where leaders discuss relevant global issues and coordinate policies.