Elgar Companion to the G7

Edited by Andreas Freytag, Professor of Economics, Friedrich-Schiller-Universität Jena, Germany and University of Stellenbosch, South Africa and Peter Draper, Professor and Executive Director, Institute for International Trade, Adelaide University, Australia

‘At a time when global problems are becoming increasingly complex, global governance is a highly contested issue. It requires institutional frameworks to ensure coordination of policies among nations. Although the G7 has long served as a venue for such coordination, it remains underexplored in academic literature. This volume, written by eminent experts to commemorate the fiftieth anniversary of this informal grouping, is a must-read for anyone seeking a timely and objective analysis of the G7’s successes and failures. It also explores the group’s future prospects by examining its historical background and the political economy aspects of its ever-expanding agenda. The book is also innovative in its approach to assessing the implications of global coordination in the domestic political sphere.’

• Contents1 Introducing The Elgar Companion to the G7: 50 years of the G7 – is it atime to take stock and celebrate (modestly)? 1Peter Draper and Andreas FreytagPART I HISTORY OF THE G72 The birth of the G7 at Rambouillet in 1975 13Peter Hajnal3 From G7 to G8 and back 28John Kirton4 The rise and decline of the First Informal: the changing character of theG7 summit 49Alan S. AlexandroffPART II POLITICAL ECONOMY OF G7 POLICY FORMULATION5 Group of Seven (G7) macroeconomic dialogue 65Paola Subacchi6 Sanctions as instruments of statecraft 79Maarten Smeets7 Exchange rate policies of the G7 97Rolf J. Langhammer8 The G7 and trade 108Stephen Woolcock9 Debt relief and the G7: a retrospective 124Carlos A. Primo Braga10 The G7 in Global Energy Governance 141Andreas C. Goldthau11 The G7 and climate change 153Steffen Bauer, Clara Brandi and Mariya Aleksandrova12 Agriculture and food security at the G7 174Bettina Rudloff13 The G7 and gender equality 200Alma Wisskirchen and Sören Hilbrich14 The G7 and health 214Timo UlrichsPART III THE G7’S EXTERNAL RELATIONS15 The G7 and Russia 232Natalya Volchkova16 China and the G7 244Chris Alden and Kenddrick Chan17 The G7, G20 and BRICS: the role of international organisations 259Vera Thorstensen, Catherine Rebouças Mota, Mauro Kiithi Arima Jr,Fábio Thomazella, Tiago Megale and Matteo Taverna18 The G7’s impact on African economic development 285Moritz WolfPART IV WHAT FUTURE FOR THE G7 IN A CHANGING WORLD?19 International economic cooperation 302Ken Ash and Anthony Cox20 Geopolitics, geoeconomics, and the G7: Russia, China, Iran, and the futureof the G7 alliance 319Annika Mildner, Claudia Schmucker and Avi Shapiro21 The G7 and transboundary crises: on the rise and fall of a global crisismanager 350Steve Biedermann, Christian Kreuder-Sonnen and Philip M. Tantow22 The diminishing importance of the G7: permanent or temporary? 363Axel BergerEpilogue: the uncertain future of the G7 in an increasingly transactional world 375Peter Hajnal, Peter Draper and Andreas Freytag