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G8: a little old and elitist perhaps?

I can see Obama's point in wanting to include the other G20 countries in the debate on solving global economic and other problems, and those powers that oppose such a model do seem keen on preserving an outdated elitist model of world governance. 'Elitist' - because that is how I see the G8 discussing behind closed doors issues that are directly relevant to the emerging and developing nations that are affected by them.

What about you, would you keep the status quo, or adopt the 'single format' of G14 or G20 nations, as was proposed in Italy?
Leaders Say G8 Losing Its Currency
13 July 2009
By Anatoly Medetsky / The Moscow Times

Against a growing chorus to expand the Group of Eight, President Dmitry Medvedev spoke on Friday in favor of keeping the G8 format as a useful tool for international policymaking.

Medvedev, speaking at a news conference at the end of a three-day G8 summit, also said Russia would continue with its individual bid to join the World Trade Organization, even though Prime Minister Vladimir Putin said June 9 that the country would suspend its bid and seek to join with Belarus and Kazakhstan as a customs union.

Leaders of the G8 rich nations — Britain, Canada, France, Germany, Italy, Japan, Russia and the United States — met alone on Wednesday in L’Aquila, Italy. On Thursday, they had sessions with six other countries, forming the so-called G14, and on the closing day they invited a number of additional states from the developing world.

The major global economies are also working together to combat the crisis as the G20.
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