"How the G8 became the G-20 in the 21st century?"

In this post, you will learn about the G8 (The group of eight established nations from Europe, North America, and Asia). This group was formed in the late 1970s and 1980s (during the end of the 20th century), and the eight original members were the United States, Japan, United Kingdom, Germany, Italy, France, Canada, and Russia. This group of nations would send their prime minister (president, or premier) to a yearly summit meeting, in order, to discuss the current situation of the world economy.

Each calendar year, the responsibility of hosting the summit would rotate through the member states in a certain, specific order. The holder of the presidency would set the agenda, host the yearly summit, and determine the ministerial meetings which will happen. From 1993-2000, Bill Clinton (the great U.S. president) and other worldly leaders met in various cities on different continents to discuss the world economy (and how it could expand further).

With the world economy growing (in terms of gross domestic product in developing nations), the G8 grew from eight original members to twenty members (which boast some of the strongest world economies ever) in 2009. The twenty members which comprise the G-20 are the European Union & the following countries: South Africa, Canada, Mexico, United States, Argentina, Brazil, China, Japan, South Korea, India, Indonesia, Saudi Arabia, Russia, Turkey, France, Germany, Italy, United Kingdom, and Australia. The G-20 has countries from six of the seven continents. The G-20 is a collection of the largest, (most populous) civilized (developing economies) world powers (countries) which meet semi-annually, starting since 2008.

The goal of the G-20 is to preserve the international finance system, and to consult (plus collaborate) amongst each member nation on international policy issues. Each country sends its finance ministers, president (prime minister, or premier), plus secretary of state (or other cabinet positions) to conduct the meetings and to oversee ideas which help to improve the world economy. Finally, the future of the G-20 will continue to look bright if each member (nation) provides strong input on how the world economy can grow and prosper. The world recovery started back in the 3rd quarter of 2009, and it's up to the G-20 to assure the world that the recovery will stay for many years to come.