Question

Institutionally, the G-7, long a developed market stronghold, has expanded into the G-20, thereby giving new members like China, India, Brazil, Mexico, and South Korea greater say in global governance.

These new stakeholders advocate, PICK EITHER: similar OR different, views of trade promotion and investment regulation.

Answer 1

G7 (Group of Seven)

The Group of Seven (G7) is an international forum consisting of the seven nations with the largest advanced economies – Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States – and the European Union.

Group of Seven may also refer to:

• Group of Eight, the name used by the G7 forum before the expulsion of Russia
• Group of Seven (artists), a group of Canadian landscape painters 1920 to 1933, originally including Franklin Carmichael, Lawren Harris, A. Y. Jackson, Frank Johnston, Arthur Lismer, J. E. H. MacDonald, and Frederick Varley
• Group of Seven, or Metcalf Chateau, a group of American artists with ties to Honolulu, including Satoru Abe, Bumpei Akaji, Edmund Chung, Tetsuo Ochikubo, Jerry T. Okimoto, James Park, and Tadashi Sato

G20 (Group of Twenty)

The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU). Founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability,the G20 has expanded its agenda since 2008 and heads of government or heads of state, as well as finance ministersand foreign ministers, have periodically conferred at summits ever since. It seeks to address issues that go beyond the responsibilities of any one organization.

Formation :-26 September 1999; 20 years ago
2008 (heads-of-state/heads of government summits)

Purpose :-Bring together systemically important industrialized and developing economiesto discuss key issues in the global economy.

Membership of the G20 consists of 19 individual countries plus the European Union. The EU is represented by the European Commission and by the European Central Bank. Collectively, the G20 economies account for around 90% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population,and approximately half of the world land area.

With the G20 growing in stature after its inaugural leaders' summit in 2008, its leaders announced on 25 September 2009 that the group would replace the G8 as the main economic council of wealthy nations. Since its inception, the G20's membership policies have been criticized by some intellectuals, and its summits have been a focus for major protests by left-wing groups and anarchists.

The heads of the G20 nations held summitstwice in 2009 and twice in 2010. Since the November 2011 Cannes summit, G20 summits have been held annually.

Trade Promotion

In business and marketing, “trade” refers to the relationship between manufacturers and retailers.Trade Promotion refers to marketing activities that are executed in retailbetween these two partners. Trade Promotion is a marketing technique aimed at increasing demand for products in retail stores based on special pricing, display fixtures, demonstrations, value-added bonuses, no-obligation gifts, and more.

Trade Promotions can offer several benefits to businesses. Retail stores can be an extremely competitive environment; trade promotions can help companies differentiate their products from the competition. Companies can utilize Trade Promotions to increase product visibility and brand awareness with consumers. Trade Promotions can also increase a product's consumption rate, or the average quantity of a product used by consumers in a given time period. Furthermore, effective Trade Promotions can enlarge a product's market segment penetration, or the product's total sales in proportion to the category's competition. Moreover, companies use Trade Promotions to improve distribution of their product(s) at retailers and strengthen relationships with retailers. Lastly, Trade Promotions can be leveraged to introduce new product launches into retail stores.