from Strategic Culture:

This week provided an instructive juxtaposition of summits. In Italy, the United States and its Western allies convened the Group of Seven (G7) talking shop, while in Russia the BRICS nations held a workmanlike summit for their foreign ministers.

The G7 has become a shorthand term for elitist Western dominance over the world economy. On the other hand, the relatively new group known as BRICS can be seen as a progressive forum and voice for the global majority. While the former is shrivelling with irrelevance, the latter is steadily growing in importance for authentic international development.