... accounts for more than a quarter of the world’s territory and for more than 40% of the global population. They also argue that in terms of the total purchasing power parity GDP, the BRICS’ share is around 33%, which puts the BRICS group well ahead of G7 (the seven largest Western economies). Moreover, BRICS role in the global economy is going only to further increase in the observable perspective and by 2050 the G7 aggregate economy will be only a half of the BRICS size, even if the latter stops adding ...
... sustainable development. We reiterate the importance of the implementation of the 2030 agenda for Sustainable Development and call for redoubled efforts for its timely implementation.” 11th BRICS Summit Brasilia Declaration.
The BRICS countries overtook the G7 countries share of the world’s total gross domestic product (GDP) in terms of purchasing power parity (PPP) in 2018. By 2024, the difference had increased even further, the BRICS is now holding a total 35% of the world’s GDP compared to 30% by ...
... able to replicate in their interstate relations the practices established to coordinate the efforts of the United States and Europe in suppressing the rest of the world. Among the most successful international organizations of the modern world, the G7, NATO, and the European Union stand out. However, these organizations are highly specific in their objectives and internal structure, aiming to safeguard the special rights of member countries in their relations with other nations. This is why various ...
... victors in the last World War and all, without exception, possess military resources that are unattainably superior to those of other members of the international community. What can we say about such strong and “established” institutions as NATO, the G7 or the European Union? In the first case, we see a real unification of military capabilities, in the second - economic power.
BRICS is not based on the balance of power of the main participants, as was the case with the most successful alliances of ...
Why BRICS has become the hero of the day, while the G7 remained at the back seat
On August 24, 2023, the BRICS summit in Johannesburg came to an end, but its overall significance is yet to come to grips with, as too many variables are at stake. Still, it is already possible to put the first emotions ...
... summit meeting in Sydney scheduled for May 24 was abruptly canceled. The US president had to pull out of his long-anticipated trip to Australia and Papua New Guinea. Instead, the heads of the four Quad member states got together on the margins of the G7 Summit in Hiroshima on May 20.
The main reason for the change of plans was the continuous struggle between the White House and Republicans on the Hill over the national debt ceiling.
If no compromise is reached, the US federal government might fail ...
... international tour of Japanese Prime Minister Fumio Kishida turned out to be one of the most remarkable events of early 2023. The trip, which included a number of capitals in Europe and in North America, was officially presented as a step in preparing for the G7 Summit to be held in June in the Japanese city of Hiroshima. However, Kishida's diplomatic marathon was also an opportunity to introduce the latest changes in the Japanese foreign and security policy to key Japanese partners, allies and, arguably, ...
Diversity is one of the main sources of G20 legitimacy that G7 or NATO clearly lacks
The G20 Foreign Ministers' Meeting (FMM) is being held in Bali on Thursday and Friday. It is one of the most important events on the way to the G20 summit that the island will host on November 15–16. The official announcement ...
It’s perhaps hard to believe now but – only eight years ago – Russia was a full member of the former G8. Since then, there have been dramatic changes
Just before the G7 leaders met at Elmau Castle in Bavaria last week, their counterparts from the five BRICS countries held an online summit under the Chinese presidency. Russia had been discussed as a threat at the G7 gathering but was a key participant in the latter....
... way to a rising number of projects and initiatives that have regional integration blocs as their base.
One such recent project is the Global Gateway initiative launched by the EU at the end of 2021, another that was launched under the auspices of the G7 group is the Build Back Better World (B3W) initiative. Both projects are meant to compete with China’s Belt and Road Initiative (BRI) in advancing greater connectivity and infrastructure development throughout the global economy. Globalization as ...
