Developing nations challenge G-8's economic dominance

07/10/2009 | Bloomberg

China, Brazil, India, South Africa and Mexico, which have nearly half of the world's population, challenged the economic dominance of the Group of Eight industrialised nations. The developing nations are seeking greater clout in global financial markets and overall economy. "Everyone was of the opinion that the G-8 isn't any longer the most ideal structure for dealing with the governance of the world economy," said Italian Prime Minister Silvio Berlusconi.

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