The Group of Seven (G-7) is an intergovernmental organization composed of the world’s seven largest and self-proclaimed “advanced” economies in the world. The seven G-7 members are: the United States, the United Kingdom, France, Germany, Italy, Canada, and Japan. The G-7 was previously known as the G-8 with Russia being included, until it was suspended in 2014 after it had illegally annexed Crimea.

The G-7 is a platform of international dialogue in which representatives from each of the members cooperate and deliberate on economic, political, and socio-cultural issues in pursue of mutually beneficial solutions. The G-7 holds an annual summit every year, usually hosted in one of the member countries. The purpose of these meetings is to strengthen resources, reference materials, and develop new policies related to the overall economic stabilization of the member states.

Members of the G-7 cooperate in ways such as through summits, committees, ministerial meetings and executive meetings. They also share intelligence, such as a shared database monitoring foreign activities. They also work together to fight against terrorism and security threats, as well as poverty, hunger and other humanitarian issues.

The G-7 has no formal legal authority, rather, it exists via consensus mechanisms. However, it does have influence over its members and can enforce a certain degree of responsibility. As a body of representatives from seven powerful countries, the G-7 is a powerful platform for international dialogue. The G-7 provides a much needed platform for leadership for various international issues and the expertise brought together by the members result in the achievement of much needed goals in balancing the world economy.

In addition, the G-7 works on international issues in cooperation with other international organizations such as the United Nations and the World Bank. This allows the G-7 to leverage its international reach and provides a greater impact on the global stage.

In short, the G-7 is an international organization of self-proclaimed “advanced” economies that provides valuable international dialogue and collaboration in the areas of economic, political, and socio-cultural issues. This collaboration allows members to work together to create policy solutions to improve the overall global economic security and stability. The G-7 may not have a legal legislative authority to enforce these solutions but its influence over its members has proven invaluable in past international issues.