Compare that with an over growth rate forecast of 1.9% for the Group of Seven nations.
But shouldn't the leaders of the Group of Seven nations be concerned about the slowdown of the U.S. economy?
The G8 is a forum between the world's seven leading industrialized democracies -- the Group of Seven -- and Russia.
By next year, Japan will have replaced Italy as the most indebted nation in the Group of Seven rich countries.
Finance officials from the Group of Seven industrialized nations are set to meet Friday in Washington to address the financial meltdown.
Finance ministers and members of the Group of Seven nations are due to meet in Washington over the next three days.
The claustrophobic growth squeeze remains healthy amongst the Group of Seven (G7).
In fact, the Group of Seven finance ministers wrapped up their latest meeting yesterday, and the Japanese walked away Scot-free on the currency issue.
The Group of Seven (G7) issued a statement to dampen the discussions of a global currency war so fervently covered by the mainstream news.
Japan, more than perhaps any other member of the Group of Seven, or G-7 summit countries, has been properly circumspect regarding developments in Soviet society.
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Pluzhnikov, the majority owner of the nation's main TV channel, Inter, was well connected to "The Group of Seven, " a circle of influential Ukrainian businessmen.
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Washington also pledges to support Russia's increased participation in major international economic organizations like the World Trade Organization and the Group of Seven industrialized nations.
It was during those years that Italy experienced the boom that established it as one of Europe's leading economies and a member of the Group of Seven.
Finance officials from the Group of Seven industrial countries issued a joint statement Sunday evening stating they would remain in close contact and work together to ensure stability.
On the upside, the Organization for Economic Cooperation and Development separately raised its first-quarter GDP forecast for countries in the Group of Seven industrialized nations to 1.9% from 1.5%.
Investors were encouraged by the fact that a meeting of the Group of Seven leading nations didn't lead to criticism of Japan's easing policies or their effect on the yen.
The Group of Seven nations on Tuesday issued a statement that said their central banks were not attempting to devalue their currencies, but instead trying to boost their economic growth rates.
Some hoped the meetings would be a prelude to an eventual invitation for Beijing to join the Group of Seven, but China evinced little interest in being part of the elite club.
So there is hope that the meeting of finance ministers from the Group of Seven nations in Washington on Friday will have a bit more effect, and investors are taking notice.
As the sick man of the Group of Seven (G7) rich nations, Japan could count on the forbearance of other members as it waded into the foreign-exchange markets to manipulate its currency.
But already the commission has been frozen out of one meeting this year of the Group of Seven rich countries because the Americans complained that there were just too many Europeans at the table.
More brainstorming is needed, especially within the Asia-Pacific Economic Cooperation forum and at an imminent meeting of the Group of Seven industrialized nations, whose banks hold much of the Indonesian debt at the root of the crisis.
In 2007, when most other countries were nearing the end of a boom driven by excess credit, Germany had the highest unemployment rate (8.7% of the workforce on a harmonised basis) of the group of seven leading industrialised countries.
Foreign ministers from the Group of Seven nations discussed the situation in Georgia in a conference call on Monday and expressed support for mediation efforts led by French Foreign Minister Bernard Kouchner and Finnish Foreign Minister Alexander Stubb, a U.S. State Department spokesman said.
The Center for Security Policy today issued a critical appraisal of the priorities of the Group of Seven industrialized countries in placing the economic and financial needs of the Warsaw Pact countries increasingly ahead of those of the Latin American debtor nations in certain areas.
Brown's government is limited in how much it can stimulate the economy: Prior to the global financial crisis, Britain's private sector and public sector already experienced growth that was above the norms of the Group of Seven industrialized countries, and unemployment looked unaturally low at 3.6% in 2000.
In letters delivered to the finance ministers of the Group of Seven countries, the principal Latin American debtor nations, the IMF and the World Bank, the Center calls attention to the growing inequities in the industrialized West's approach to funding Mr. Gorbachev's perestroika and the financial requirements of the flegling democratic governments of Latin America.
An emergency G-7 meeting that has the effect of supplanting Japanese leadership of the Group of Seven prior to the Tokyo summit and that will likely be used as a forum for demanding that Japan abandon its position on the Northern Territories will serve neither the long-term interests of the Russian people nor those of the industrialized world.
Published on Monday in the journal Proceedings of the National Academy of Sciences, the study was written by a group of seven academics from Harvard, Stanford and the University of California at San Diego who work in the fields of psychology, business and public policy.
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The BRICs and the original group of seven rich countries (G7) form natural blocks within the G20.
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