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The Group of Seven (G7) is an informal grouping of seven of the world's advanced economies, The seven members are: 1. Canada 2. France 3. Germany 4. Italy 5. Japan 6. United Kingdom 7. United States These countries are the seven largest economies of the world. Together, they represent more than 62% of the global net wealth. Member countries also represent 46% of the global GDP. The group was founded in the early 1970s as the seven countries discussed concerns about the collapse of the oil industry.