Friday, December 31, 2010
End of G8/G7
When Hu Jintao, President of China, left Italy on July 7, in order to respond to civil unrest in Xingjiang, negotiators from G8/G7 (the United States, Britain, France, Japan, Germany, Russia, Canada, and Italy) realized that hopes had evaporated for any major diplomatic breakthroughs at the summit. In L’Aquila Summit, little agreement has been achieved, except some 25 billion agricultural investment initiative to help small farmers in Africa. The effect of G8/G7 has ended since the financial crisis in November 2008.