If Manmohan Singh chose to travel to Germany to meet up with George W. Bush trying to slavage the nuclear co-operation deal India agreed with the US, then that's one thing. If, however, Singh decided to travel all the way to Germany primarily to attend the G8, then why did he bother? In today's world the G8 is a costly irrelevance (compared with when it all started as the G7, way back in 1975 as a fire-side chat between the leaders of what then were then the seven economically most powerful countries in the world). For a start, how can India's PM accept India being reduced in status to a mere "outreach" country while Russia, an economically far less powerful country than any of the G8's other seven members as well as China and India, enjoys full membership status? And why is the PM so keen on attending a get-together where European powers, whose global economic influence has been steadily declining since the early 1990s, are clearly overrepresented?
RE:Dr. manmohan Singh's G8 attendance
by Shantih on Jun 09, 2007 08:44 PM Permalink
your point is very valid. europe is in decline. and russia's gdp is lesser than even india's. but this is the highest table that there is in the world - the most exclusive club. the usa and japan are there, the two biggest economies. it is worth it, going there.
RE:Dr. manmohan Singh's G8 attendance
by Murthy on Jun 09, 2007 09:16 PM Permalink
GDP may be lesser, but international impact is based on international trade . In both Exports and Imports, Russia is way ahead.
A domestic economy however huge it may be, if it is not international in impact, will have low visibility in the world.
Eg Pakistan economy (GDP) is larger than Switzerland, but we all know Switzerland is ahead in every development parameters as well as export and imports in the world market.
Key word is global impact.
European Union exports are 1500 billion, more than any other in the world, not really decline, and Europe sells mostly high end luxury products, I see a future when new rich people in china and India buying even more luxury goods like Mercedes makign Europe's exports even higher in the future.
