Why is Canada a member of G8?

[Blackleaf]

I'm not saying Canada shouldn't be. I just thought I'd post something that I found.


BELOW, THE BIG BOY CLUB

GDP Economic Rank G8 Attendee $ Millions 2004 GDP/Capita Representative Title Status

1 United States 11,667,515 $37,800 George W. Bush President Member G6
2 Japan 4,623,398 $28,200 Junichiro Koizumi Prime Minister Member G6
3 Germany 2,714,418 $27,600 Gerhard Schroder Chancellor Member G6
4 United Kingdom 2,140,898 $27,700 Tony Blair Prime Minister Member G6
5 France 2,002,582 $27,600 Jacques Chirac President Member G6
6 Italy 1,672,302 $26,700 Silvio Burlesconi President Member G6
7 China 1,649,329 $5,000 Hu Jintao President outreach attendee
8 Spain 991,442 $22,000 WILL NEVER BE INVITED
9 Canada 979,764 $29,800 Paul Martin Prime Minister Member G7 invited by Ford
10 India 691,876 $2,900 Manmohan Singh Prime Minister outreach attendee
11 Korea 679,674 $17,800 NOT INVITED
12 Mexico 676,497 $9,000 Vicente Fox President outreach attendee
13 Australia 631,256 $29,000 SHOULD BE INVITED
14 Brazil 604,855 $7,600 Luis Inacio Lula da Silva President outreach attendee
15 Russia 582,395 $8,900 Vladimir Putin President Member G8 invited by Clinton
……
27 South Africa 210,938 $10,700 Thabo Mbeki President outreach attendee
IMF Rodrigo de Rato Managing Director Spain
World Bank Paul Wolfowitz President United States
International Energy Agency Claude Mandil Executive Director France
WTO Supachai Panitchpakdi Director General Thailand
UN Kofi Annan Secretary General Ghana
EU Jose Manuel Barroso President Portugal

 

[Toro]

RE: Why is Canada a membe

Canada was invited, I think in 1975, after the first G-6 summitt. It was, as much as the Leftists hate to know this, the United States who invited Canada. The US was sitting around the table with five European countries and wanted another North American country at the table, and at the time, Canada was the seventh largest economy.

 

[Numure]

Re: RE: Why is Canada a membe

Canada was invited, I think in 1975, after the first G-6 summitt. It was, as much as the Leftists hate to know this, the United States who invited Canada. The US was sitting around the table with five European countries and wanted another North American country at the table, and at the time, Canada was the seventh largest economy.

Im a leftist, and it was a good move for the US. Still is today.

 

[Numure]

RE: Why is Canada a membe

Up to now, for 2005. In millions of Dollards

1 United States 12,438,873
2 Japan 4,799,061
3 Germany 2,906,658
4 United Kingdom 2,295,039
5 France 2,216,273
6 People's Republic of China (Mainland) 1,843,117
7 Italy 1,836,407
8 Spain 1,120,312
9 Canada 1,098,446
10 Russia 755,437
11 India 749,443
12 Brazil 732,078
13 South Korea 720,772


Remember one thing though, Spain has 42 million population, while Canada has 32 million. And overall, Spain is still considered as a country of little influence in the world. Though with the EU, it has grown considerably.

 

[bluealberta]

Re: RE: Why is Canada a membe

Up to now, for 2005. In millions of Dollards

1 United States 12,438,873
2 Japan 4,799,061
3 Germany 2,906,658
4 United Kingdom 2,295,039
5 France 2,216,273
6 People's Republic of China (Mainland) 1,843,117
7 Italy 1,836,407
8 Spain 1,120,312
9 Canada 1,098,446
10 Russia 755,437
11 India 749,443
12 Brazil 732,078
13 South Korea 720,772


Remember one thing though, Spain has 42 million population, while Canada has 32 million. And overall, Spain is still considered as a country of little influence in the world. Though with the EU, it has grown considerably.

And I fear that Canada's influence is dropping rapidly. Which is a shame, and something this country should work on. We cannot pretend to be a world power with influence with figures like that, in addition to other indicators that reflect our irrlevance, such as military capability, debt ratio (remember the IMF got involved with Canada in the 90's), liberal immigration and security procedures, although this has improved, to give credit where credit is due.

 

[Toro]

RE: Why is Canada a membe

Within the next 10-15 years, those four beneath Canada will probably pass Canada, with the exception of maybe Russia.

 

[Said1]

Re: RE: Why is Canada a membe

Within the next 10-15 years, those four beneath Canada will probably pass Canada, with the exception of maybe Russia.

I disagree, I think Russia will too.

 

[bluealberta]

Re: RE: Why is Canada a membe

Within the next 10-15 years, those four beneath Canada will probably pass Canada, with the exception of maybe Russia.

I disagree, I think Russia will too.

So, if we can accept the premise we are going the wrong direction, what needs to be done to correct this? Surely we as a nation will not become lemmings allowing this to happen? Surely this is not what our soldiers had in mind when they fought in both WW's?

 

[Said1]

Re: RE: Why is Canada a membe

Within the next 10-15 years, those four beneath Canada will probably pass Canada, with the exception of maybe Russia.

I disagree, I think Russia will too.

So, if we can accept the premise we are going the wrong direction, what needs to be done to correct this? Surely we as a nation will not become lemmings allowing this to happen? Surely this is not what our soldiers had in mind when they fought in both WW's?

Don't aske me, geography is my specialty, not economics.

 

[Toro]

RE: Why is Canada a membe

Russia has enormous potential. It might not be a bad idea to put a bit of money into a Russian mutual fund. (But just a bit.) Russian stocks are, I think, fairly cheap. Having said that, the problem with Russia is that the rule of law is still questionable. The expropriation of Yukos and some questionable court decisions against BP are a few examples of hurdles companies face. The Russian state doesn't seem to have a problem with changing the rules mid-stream. Its still somewhat of a kleptocracy.

As for Canada, I don't think there's much Canada can do. Its a testiment to Canada that such a country with 5% of the world's population can become the seventh largest economy in the world. As much larger countries get their house in order, its only a matter of time before Canada slips down the ladder. What we cannot do is follow some of the advice from the fringe Left that we see here.

 

[Jo Canadian]

Re: RE: Why is Canada a membe

What we cannot do is follow some of the advice from the fringe Left that we see here.

Eh?

 

[unspoken]

The real problem with Russia is that hardly anybody feels safe enough to do business there because of the prosperity and influence of organized crime on business and politics. If Russia wants their economy to grow, they need to drastically reduce the presence of the mob to encourage both domestic and foreign investment.

 

[Said1]

Re: RE: Why is Canada a membe

Russia has enormous potential. It might not be a bad idea to put a bit of money into a Russian mutual fund. (But just a bit.) Russian stocks are, I think, fairly cheap. Having said that, the problem with Russia is that the rule of law is still questionable. The expropriation of Yukos and some questionable court decisions against BP are a few examples of hurdles companies face. The Russian state doesn't seem to have a problem with changing the rules mid-stream. Its still somewhat of a kleptocracy.

As for Canada, I don't think there's much Canada can do. Its a testiment to Canada that such a country with 5% of the world's population can become the seventh largest economy in the world. As much larger countries get their house in order, its only a matter of time before Canada slips down the ladder. What we cannot do is follow some of the advice from the fringe Left that we see here.

For your econogeek reading pleasure. :glasses3:

http://www.iet.ru/publication.php?folder-id=44&category-id=115&lang=en

I'll expect a detailed analysis by midnight, so get cracking, this ain't no disco!

 

[Numure]

Re: RE: Why is Canada a membe

And I fear that Canada's influence is dropping rapidly. Which is a shame, and something this country should work on. We cannot pretend to be a world power with influence with figures like that, in addition to other indicators that reflect our irrlevance, such as military capability, debt ratio (remember the IMF got involved with Canada in the 90's), liberal immigration and security procedures, although this has improved, to give credit where credit is due.

With Figures like that? Our country has a population of 32 million. The lowest by far in the top 15 countries per GDP. I think we are doing quite good for ourselves. Btw, Canada has a triple AAA dept rating. That thanks to the liberals. As much as I dislike them, they've done more good for Canada's economy then the conservative have ever done, and can ever espire to do.

During the world wide resention, Canada was the only country with a continued growth, and budget surplus in the G8. We arnt spliping, the other countries are catching up. Its as simple as that.

 

[mrmom2]

Question for you guys who's the only G8 country that has actually paid down some of its debt ?Canada So if were falling down the ladder why are we wasting our tax dollars paying down the debt? :? Nobody else is and they all seem to be doing fine

 

[no1important]

RE: Why is Canada a membe

Numure wrote:
Up to now, for 2005. In millions of Dollards

1 United States 12,438,873
2 Japan 4,799,061
3 Germany 2,906,658
4 United Kingdom 2,295,039
5 France 2,216,273
6 People's Republic of China (Mainland) 1,843,117
7 Italy 1,836,407
8 Spain 1,120,312
9 Canada 1,098,446
10 Russia 755,437
11 India 749,443
12 Brazil 732,078
13 South Korea 720,772


Remember one thing though, Spain has 42 million population, while Canada has 32 million. And overall, Spain is still considered as a country of little influence in the world. Though with the EU, it has grown considerably.

What about China? Where would they be on the list?

 

[Toro]

RE: Why is Canada a membe

They're #6, no1.

 

[Toro]

Question for you guys who's the only G8 country that has actually paid down some of its debt ?Canada So if were falling down the ladder why are we wasting our tax dollars paying down the debt? :? Nobody else is and they all seem to be doing fine

It doesn't really have anything to do with where we are on the ladder. What matters is the percentage of debt to GDP - for any country regardless of whether they are in the G8 or not. At the end of 2004, the percentage of debt to GDP was higher in Canada at 66% than the US which was at 64%, even though Canada has been in surplus for a decade. That's because in the mid-90s, debt was up to 100% in Canada and never got much higher than 75% in the US. In the OECD, Canada ranks 13th of 27 nations in terms of federal indebtedness to GDP versus 14th for the US. Sometime this or next year, the US will surpass Canada. Canada has done a good job at getting its fiscal health in order. Japan is first at around 150%. I think Italy is second at 105%.

The reason why its important is because the less debt you have, the less money that is sucked out of the system in taxes to pay interest charges and the more that can be used for more productive uses. The fact that an economy is doing okay now, even if its debt level is rising, does not mean it will do so in the future. When the economy turns soft, as it inevitably will, countries with high debt and deficit levels have a more difficult time cushioning the impact of the downturn. Finally, higher external debt usually means a lower currency and a lower standard of living.

There's nothing wrong with governments going into debt, as long as the borrowing is not excessive, the debt is used to fund capital improvements, and debt used for consumption in bad times is paid off during good times.

 

[Numure]

Re: RE: Why is Canada a membe

Numure wrote:
Up to now, for 2005. In millions of Dollards

1 United States 12,438,873
2 Japan 4,799,061
3 Germany 2,906,658
4 United Kingdom 2,295,039
5 France 2,216,273
6 People's Republic of China (Mainland) 1,843,117
7 Italy 1,836,407
8 Spain 1,120,312
9 Canada 1,098,446
10 Russia 755,437
11 India 749,443
12 Brazil 732,078
13 South Korea 720,772


Remember one thing though, Spain has 42 million population, while Canada has 32 million. And overall, Spain is still considered as a country of little influence in the world. Though with the EU, it has grown considerably.

What about China? Where would they be on the list?

6th, if you looked properly.

 

[no1important]

Re: RE: Why is Canada a membe

They're #6, no1.

Sorry I guess I am going blind or something.