G8 Agenda

By THIS IS MONEY
Updated:

 

The Daily Mail's City team explain the G8 Agenda...

What's up?

The Group of Eight (G8) nations - UK, US, Canada, France, Germany, Italy, Japan and Russia - have a rather puffed up idea of their own importance.

But holding annual summits to discuss the world's problems don't really work if you forget to invite leaders from Asia or Africa.

So the G8 deigned to ask seven African leaders to join the opening day of their three-day summit in Japan yesterday.

Chit chat or action?

Probably the former. Surging food and oil prices are hot topics, as is the issue of African poverty and global warming.

US president George Bush has pledged to push for action to curb food and energy costs, but it is hard to see what he can do about it.

And rich nations aren't feeling quite so flush at the moment, so the likelihood of them finding extra aid for Africa is fading with every gloomy economic headline.

End result?

Today's talks turn towards broader economic and political problems. There could be a strongly worded statement on Robert Mugabe's rule in Zimbabwe and grumblings about North Korea's nuclear programme.

On oil and food, world leaders probably won't tell us anything we don't know already.

If all else fails, the G8 at least provides an opportunity for a smiling photocall and lots of handshakes.

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