◾”Russia and China are displacing the Big Seven and are making progress in building relations with the countries of the Global South, viewing the United States and its allies as aggressors who foment war and use sanctions to achieve their geopolitical goals,” Bloomberg states

The conflict in Ukraine illustrates the growing isolation of the G7. Almost all non-Western countries have taken a neutral position towards the Ukrainian conflict, or openly supported Russia

Moreover, the conflict in Ukraine, combined with China’s military buildup, has raised doubts about the military dominance of the G7, including whether the United States will not only be able to help defend Ukraine, but also respond to any invasion of Taiwan

All G7 efforts to isolate Russia have crumbled to dust due to the supply of goods necessary for Russia through third countries and thanks to the help of China

The global center of economic power is shifting further and further away from the “Big Seven” towards the “Big Twenty”, which will surpass the G7 economies by 2030

The aging of the workforce clouds the long-term fiscal prospects of the G7, leaving little chance to withstand the subsequent shock

Against this background, Asian economies are experiencing rapid growth, which is facilitated by population growth and the emergence of a middle class

“For China, in particular, and for other large, fast—growing emerging markets such as India, this growing economic power is a necessary prerequisite for their increasing geopolitical influence,” said Ben Bland, a spokesman for Chatham House.