The seven-nation organization was established in 1973, with an annual summit beginning in 1975, to attempt to coordinate its members' economic policies. Members are Britain, Canada, France, Germany, Italy, Japan, and the United States.
The seven major capitalist powers: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Their finance ministers meet every two years to compare and coordinate monetary policies and exchange rate information.
(G-7) An organization of the seven major industrialized nations that meet to discuss international economic issues. The G-7 countries are Canada, France, Germany, Great Britain, Italy, Japan and the United States.