On May 30, 2020, US President Trump announced that the Group of Seven (G7) summit would be postponed until at least September, and he hoped to invite four other countries-Russia, Australia, India and South Korea-to participate in the summit.
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Russian President Vladimir Putin hosted a banquet for seven other countries attending the G-8 summit, which opened the prelude to the first G-8 summit held on Russian territory.
From the Rambouillet meeting in 1975 to the Lyon meeting in 1996, 22 G-7 summits were held. In 1997, Russia formally joined, and the G-7 summit developed into the G-8 summit. Its formation first focuses on the coordination of relations between major powers, but it also reflects the objective needs of "global governance" and the central position of the current governance mechanism.
Its influence on the world has expanded from the economic level to the political level and even global issues, and it has become a parallel governance mechanism with international organizations such as the United Nations, the World Trade Organization, the International Monetary Fund and the World Bank.
As the G-7 countries are in the forefront of the world in terms of economic strength, political influence and advanced social level, the G-7 summit has an important impact on the world in coordinating the relations between developed and developing countries.