BRICS countries are ahead of the G7 in terms of contribution to global economic growth

The G7 includes Western countries: the United States, Japan, Great Britain, Germany, Canada, Italy and France, which were considered the largest economic powers in the world in 1975. BRICS includes Brazil, Russia, India, China and South Africa — five countries that together claim the global political and economic primacy.

The new leader is being replaced by a young BRICS structure, whose countries occupy 26% of the entire territory of the planet and make up 42% of its entire population.

BRICS, unlike the G7, is not a conservative structure, not a club of «chosen ones», but a dynamically expanding structure for equal cooperation. This means an open door to all countries that support the principles of this structure and meet the necessary criteria for financial activities.

According to the IMF, China will play a major role in the growth of the global economy in the next five years. In 2023 - 2028, the country's share in global GDP growth will amount to 22.6% of the total world. The second place will be taken by India with an indicator of 12.9%, the third — by the USA with 11.3%. Indonesia will provide 3.6%, Germany and Turkey — 2.1% each. Russia's contribution to global economic growth will be only 1.6%. Bangladesh and Vietnam have the same indicators.

By the end of 2022, the BRICS interstate association has overtaken the G7 club in terms of GDP. In the global economy, BRICS had a share of 31.5%, and G7 - 30.7%.

Where there is economic weight, there is political weight.