Since 2014, when Russia was excluded from the G8, the G7 has been an international forum consisting mainly of major industrialised nations, the world’s key economies. With the significant economic growth witnessed by BRICS countries – more particularly China and to a lesser extent India – in recent decades, their combined GDP is now larger than that of the G7 (see Figure 3). According to a Chinese official, this economic weight is supposed to strengthen BRICS+ ‘collective voice in the world’, which some observers interpret as the group’s aspiration to ‘dethrone’ the G7.
G7 and BRICS: GDP in purchasing power parity in 2007 and 2022 (as a % of world GDP)
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