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Things You Should Know about G77.
1. A Brief Introduction to the G77
The Group of 77, sometimes known as G77, is a powerful alliance of developing nations that first appeared inside the framework of the United Nations in 1964. It was founded by 77 poor countries and has subsequently grown to 134 member states.
This diversified group, which includes almost 80% of all people on the planet, comprises a large share of the world's population.
Concerns about trade,
technology, and just international economic relations are the G77's main areas
of attention.
2. The G77's goals
The G77's main goal is to create a new global order that supports the interests and prosperity of developing nations.
By promoting a more just global economic order, it seeks to accomplish this. The G77 places a strong emphasis on the value of innovation, technological transfer, and trade in promoting economic growth and development among its member countries.
3. The G77's function in world diplomacy
The G77, despite not being an official bloc, is essential to negotiations inside the UN and with its numerous technical bodies.
It functions as a strong bargaining
group, representing the interests of all of its members. It can make its
problems and interests known on the international scene thanks to this
diplomatic leverage.
4. China's Participation in the G77
Despite not being an official member, China has given the G77 significant political and financial support since its founding.
As a result, the South Summit is frequently referred to as the "G77 plus China." This collaboration highlights how important China is to achieving the goals of the coalition.
5. 2023 South Summit Meeting
Improving Trade, Technology Transfer, and Innovation for Developing Countries" will be the focus of the 2023 South Summit summit, which will be hosted by Cuba.
This demonstrates the G77's dedication to resolving the stark inequalities in
access to research and technology, with a focus on fostering South-South
collaboration.
6. G77 as the G7's Counterpart
The Group of Seven (G7), which is made up of the seven most developed economies in the world, can be seen as the counterpart to the G77 in many aspects.
Even if the G77 does not necessarily include the richest countries in the world, its GDP indicates that it has plenty of economic resources.
It serves as a check on the
power of wealthy nations in world affairs.
7. The G77's Commitment to Self-Determination and Non-Alignment
The G77 has historically taken a non-alignment position in major power struggles and conflicts.
Obtaining respect in international affairs and ensuring that economic development progresses without undue interference from more powerful nations are its main goals.
The G77 represents the desires of Southern nations
for rapid development and non-interference in their political and economic
issues, even though it may only have little political influence.
In conclusion, the Group of 77 (G77) is an important alliance of developing countries that account for a sizeable share of the global population. It promotes fair trade, knowledge transfer, and innovation in an effort to create a new global economic order.
Despite not being a formal alliance, the G77 actively participates in UN negotiations with China's backing and is dedicated to non-alignment and member states' right to self-determination.
Also Read:
: Cuba Summit and Its Role in Global Affairs){kind=link}
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