WILL THE G20 KICK THE G8 TO THE CURB ?

The group of eight industrialized powers are now ineffectual in the worldwide financial crises, according to researchers and international affairs experts.

The G8 consiste of Britain, Canada, France, Germany, Italy, Japan ,Russia and the United States. But the G8 depends on the G20 which includes Argentina, Brazil, China, India and South Africa.

Richard Portes, a researcher at the London School of Economics said "no substantive results have come out of the G8 for years. Portes said the G8 has become irrelevant. Barry Echengreen at UC Berkely said reform of the IMF could not be done without China, the largest reserve holder.

Kumor of the Indian Research Council said there should be a G4 , Japan, China, The United States, and the European Union.