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WASHINGTON - World Bank President Robert Zoellick says the G7 is outmoded and should be replaced. Zoellick says the Group of Seven should be expanded into a body that includes growing economies in Asia and Latin America.

The G7 brings together the United States, Canada, Britain, France, Germany, Italy and Japan.

Zoellick says the world should now consider a new financial steering group that also includes Brazil, China, India, Mexico, Russia, Saudi Arabia and South Africa.