G7 lauds global economy

Here is the news from Swissinfo

April 14, 2007 – 1:13 AM
By Sumeet Desai and Yoko Nishikawa

WASHINGTON (Reuters) – Finance chiefs from the world’s rich nations on Friday heralded the strongest sustained global economic growth in three decades, despite ongoing risks, and they kept up pressure on China to allow its currency to move more freely.

The U.S. economy remained solid, even as domestic demand moderated in the midst of a housing slump, and the euro area was showing a healthy upswing, finance ministers and central bankers from the Group of Seven said in a communique released following an afternoon meeting.

Click here for article: Swissinfo

Here is the link for those wishing to know more about this group: Global Policy.org

Since 1975, the annual G7/G8 Summit brings together leaders of the world’s richest nations – United States, Japan, Germany, United Kingdom, France, Italy and Canada. While not a full member, Russia has attended the meetings since 1994. The meetings consider economic policy issues as well as political and security matters. Though not an “institution,” the G7/G8 represents an important global policy making process at the highest level. In addition to the annual meeting of heads of state and governments, there are also annual meetings of foreign ministers and other ad hoc ministerial meetings. For many years, protests and alternative events have criticized the summit for defending the interests of the rich and powerful at the expense of most of the world’s people.


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