Explaining G8 Effectiveness in the Approach to the New Millenium

Professor John Kirton
University of Toronto
Toronto, Canada

TABLE J

Merchandise Exports and Trade Openness, 1997

US$ Billion, as Percentage of World Total

Country Export Volume Xas%GDP 1997 Xas%GDP 1992

USA 12.6 ($689b) 11.8% 10.2%

Germany 9.4 26.6% 23.7%

Japan 7.7 11.1% 10.1%

France 5.3 31.4% 27.1%

Britain 5.1 28.4% 23.8%

Italy 4.4 24.4% 17.8%

Canada 3.9 40.2% 27.2%

Netherlands 3.5

Hong Kong 3.4

China 3.3

Belgium/L 3.1

Korea 2.5

Singapore 2.3

Taiwan 2.2

Mexico 2.0

Spain 1.9

Russia 1.6

G7 Total = 48.4

G8 Total = 50.0 (Russia required for nominal majority)

G9 Total = 58.5 (with EU's Netherlands, Belgium/Luxemburg, Spain)

G7 Rank Continuously 1-8 with no interruptions,

Clear gap between Canada and Netherlands, China only claimant to Quad dominance, Russia lags

In 1996 China ranked 11^th with 2.9% of global exports.

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Source: The Economist, March 28, 1998, p. 101 using WTO data, Canada, Birmingham G-8 Summit and Official Visits in Europe by Prime Minister Jean Chretien, May 13-12, 1998, Background Information.