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The G7, or G-7, is a group consisting of the finance ministers of seven developed nations: the U.S., U.K., France, Germany, Italy, Canada and Japan. They are the seven wealthiest developed nations on Earth by global net wealth. The G7 represents more than the 63% of net global wealth ($241 trillions), according to Credit Suisse Global Wealth Report October 2013.1 The last meeting of the G7 took place in May 2013 in Aylesbury in the United Kingdom. Other meetings of the G7 are already planned.
The G7 began in 1975 as the Group of Six and included the countries of France, West Germany, Italy, Japan, United Kingdom, and United States and was joined by Canada the following year.2 Collectively, the G7 nations comprised 50.4% of global nominal GDP and 39.3% of global GDP (PPP). This group meets several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 finance disputes.3