Who runs the world?
economist.com
economist.com
First, these "richest seven" aren't really the richest if judged by their GDPs, even among democracies. Second, there was no need to put Russia into special case: it also is a capitalism-fueled democracy (despite media's preference to suggest otherwise) and their GDP is bigger than Italy, UK and France.
And finally, this G8 thing makes no sense without India and China in it, both are nuclear powers with economies that are in top 5 largest.
If you count GDP per capita, then Qatar should be there, but honeslty they are not an industialized country, they just have oil.
So, if you count by GDP, then china, should be there, but it can barely feed its own people and its GDP per capita is in 100th place. Heck even my country is better than China.
I am not sure what the exact formula is, but I bet is it is a combination of
GDP, GNP, PPP(GDP per capita), and Nuclear Capability
Like every velvet club, if you don't care about it, than it doesn't matter. Actually if you are cool enough, then you can open your own club, and the other people will start comming to you. China would be smart to create some kind of economic bllock in east and south-east asia, to give it even more clout. But other countries just don't trust them that much.
also i didn't jump on or even directly mention the OP, nor did my post have anything to do with frivolity.
edit: btw your post "jumps on" me for "jumping on" someone else, and also complains that i shouldn't criticize others for doing things i did myself. by your own criterion your post is bad.