Foreign media: The Group of Seven may come to an end as the proportion of global GDP has dropped.

Media: The G7 is on its last legs due to the declining share of its members in the global GDP.

Bloomberg published an article stating that the "Group of Seven" (G7) is nearing its end due to the loss of influence and the continuous decline in the share of its members in the global GDP.

The article reads, "Half a century after the world's elite first gathered... the G7 is on its last legs. The world share it represents is shrinking - now accounting for less than 30% of the global GDP and 10% of the global population, with influence also waning."

The article points out that Russia's exclusion from the Group of Eight (G8) has put an end to the G7's political ambitions.

The article suggests that the G7 may not issue a joint statement after the June summit in Canada.

It emphasizes, "The invitation to the G7 is no longer what it used to be."

In March this year, Russian President Vladimir Putin questioned the name of the "G7," saying that if the GDP growth rate of the eurozone in 2024 is 0.9%, he does not understand why the G7 is called "Great."

The G8 was an international organization composed of major countries from 1997 to 2014, including the UK, Germany, Italy, Canada, Russia, the US, France, and Japan. It was established when Russia was invited to attend a G7 meeting in 1997, but Russia's membership in the G8 was terminated after Crimea joined Russia in 2014.

US President Donald Trump previously stated that the decision to exclude Russia from the G8 was "very stupid." He also noted that now is not the right time to invite Russia back into the G7.

Kremlin spokesman Peskov said that Russia has long indicated that the G8 model is no longer appealing, as the center of economic development has shifted to other regions.

Original source: https://www.toutiao.com/article/1834250649176067/

Disclaimer: This article solely represents the views of the author.