Reference Message Network reported on June 17 that the Japanese Economic News published an article titled "The Unilateral Dominance of the United States Makes it Difficult for the G7 to Play its Role" on June 16. The author is Chiharu Uchiyama. The main content is compiled and translated as follows: G7 has clearly failed to play its due role in formulating global rules. The economic status of six member countries excluding the United States, led by Japan, continues to decline, unable to prevent President Trump from showing disdain for the G7 mechanism. The G7 Summit, which has passed fifty years of history, is facing a major turning point. The situation of the US being dominant within the G7 is becoming more prominent. The widening gap between the other six countries and the US in terms of economic strength is the main cause of this situation. According to data from the International Monetary Fund, calculated by the proportion of each country's GDP globally, the combined proportion of G6 will drop to 18% in 2024, halving compared to 35% in 2000. Japan's decline is particularly noticeable. It has fallen from 15% in 2000 to 4% in 2024. This is related to Japan's low-speed economic growth and the phenomenon of an aging population with fewer children during the "lost thirty years," and is also the main reason for the decline in the economic proportion of G6. At the same time, China is rising strongly. In 2024, China's GDP accounts for 17% of the world's total, which can rival G6. The US's share of GDP has decreased slightly from 30% in 2000 to 26%. However, if only considered within the G7, the US's share has increased significantly from 46% in 2000 to 59% in 2024. The widening gap within G7 caused by the US's unilateral dominance has also contributed to Trump's disdain for G7. For Trump, who excels at promoting "transactional diplomacy" under bilateral frameworks, G7 is just one of many multilateral mechanisms. Trump's return to the G7 venue may exacerbate chaos within G7. Considering Trump's past with G7, Canada, which will assume the rotating presidency in 2025, is no longer fixated on issuing statements but prioritizes forming outcome documents on individual issues. However, this cannot deny the impression that G7 is unable to respond to global challenges. Looking at the proportion of each country's GDP globally, emerging countries other than China are also strengthening their economic power. An increasing number of emerging countries are dissatisfied with the "international mechanisms centered on the US and developed European countries not respecting their opinions." More countries are moving away from G7 to build complex multilateral structures. The era of G7 as the world leader is coming to an end. Takahide Kiuchi, executive economist at Nomura Research Institute, pointed out: "In light of the growing strength of emerging countries, it is necessary to review the global rule-making system in trade and international settlement that has long favored developed countries." (Compiled/Translated by Lin Liu) Original source: https://www.toutiao.com/article/7516755817383641641/ Disclaimer: The article only represents the author's personal views. Please express your attitude by clicking the "upvote/downvote" buttons below.