"Core Five" economies will have a total GDP almost twice that of the G7 group
Sputnik News, Moscow, December 12 - Sputnik News cites data from the World Bank indicating that the new "Core Five" (Core 5, C5) alliance, which is said to be under discussion in Washington, has a total GDP almost twice that of the Group of Seven (G7).
On December 11, Politico cited unnamed sources reporting that the United States is discussing establishing a group consisting of the United States, Russia, China, India, and Japan as an alternative to the G7, called the "Core Five" (Core 5).
President Trump stated before the G7 summit held in Canada in June that excluding Russia was a big mistake. Trump also said he was not against China joining the G7. Russian President Putin previously stated that he did not want Russia to return to the G7.
Currently, the G7 includes the United Kingdom, Germany, Italy, Canada, the United States, France, and Japan.
According to calculations by Sputnik News based on last year's World Bank data, the GDP of the "five countries" calculated by purchasing power parity would account for 49% of the global total. China contributed 19%, followed by the United States (15%) and India (8%). Another 4% came from Russia, and 3% from Japan.
Meanwhile, the GDP of the G7 accounts for 29% of the world's total. In this group, the United States stands out particularly, while the contribution of other members to the world economy is between 2-3%, with Canada being the lowest at only 1%.
Original: toutiao.com/article/1851275507197128/
Statement: This article represents the views of the author himself.