g7

The G7 was formed fifty years ago so the world’s advanced-economy democracies could align on shared economic and geopolitical challenges. But what happens when the cause of instability is coming from inside the G7? That’s the question confronting the leaders as they assemble this week in Kananaskis. 
US President Donald Trump is still getting to know some of his new colleagues, including German Chancellor Friedrich Merz, UK Prime Minister Keir Starmer, Japanese Prime Minister Shigeru Ishiba, and the summit’s host, Canadian Prime Minister Mark Carney. Trump will try to coordinate the group against China’s economic coercion. But the rest of the leaders may turn back to Trump and say that this kind of coordination, which is at the heart of why the G7 works, would be easier if he weren’t imposing tariffs on his allies. The chart above shows the friction points heading into one of the most consequential G7 summits in the organization’s history.
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Originally created as an economic coordination body, the G7 began to put foreign policy and national security on its agenda in the 1980s, as the Soviet Union’s political influence was waning. Soon after, Russia attended its first G7 Summit as a guest in 1991, formally joined in 1998, creating the Group of Eight (G8), and then was suspended in 2014 due to its annexation of Crimea. 
In the years since, new geopolitical rivals have entered the fray: Since the COVID-19 pandemic, G7 summits and declarations have attempted to address China’s role in the global economy. Last year’s leaders’ communiqué was especially harsh on China—which was mentioned twenty-nine times—on everything from its material support to Russia’s war against Ukraine to Beijing’s malicious cyber activities. But China was once a guest at the forum, first joining in this capacity in 2003.
Other members of the G7+5, an unofficial grouping of large emerging markets—India, Mexico, Brazil, and South Africa—have been invited as guests in recent years. If that sounds familiar, it is because India, Brazil, and South Africa, along with Russia and China, are the founding members of the BRICS group of emerging economies, which some would consider a representation of the geopolitical and economic competition the G7 faces today. 
This year, Australia, Ukraine, South Korea, Brazil, Mexico, and India were invited to attend as guests. These invitations are a signal of broad alignment among the G7 and its guests. These invitations demonstrate the importance of the guests’ economic might on the global stage, even though India has shifted away from the G7 quite significantly in the last fifty years, as seen in the graph above. In 1992, when Russia first attended the G7 as a guest, its gross domestic product (GDP) was less than 1 percent of the world’s GDP, and the combined economies of the five founding BRICS countries made up less than 9 percent of global GDP. At the time, the G7 represented 63 percent of the world’s GDP. Today, the G7’s share is now 44 percent of the world’s GDP and the founding BRICS members’ share has more than doubled to almost 25 percent. 
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A major shift is happening in global finance as some of the world’s largest banks unite to build G7-pegged stablecoins Bank of America Citi Deutsche Bank Goldman Sachs and UBS have announced their collaboration to bring stable digital currencies into the mainstream This marks the first large-scale effort by traditional financial institutions to integrate blockchain-backed assets with full regulatory oversight

Following US President Donald Trump’s endorsement of stablecoins the discussion around blockchain adoption in traditional banking has reignited The stablecoin space is currently dominated by El Salvador-based Tether which holds $179 billion of the total $310 billion market But with Santander Barclays BNP Paribas MUFG and TD Bank Group now exploring this joint initiative the balance of power may soon shift toward regulated financial institutions

Their goal is clear to determine whether a unified industry-backed solution can enhance competition reduce friction and deliver the advantages of digital assets while maintaining compliance and trust in the global financial system

Societe Generale was the first major bank to issue a dollar-backed stablecoin through its digital asset unit though its current circulation remains modest at $306 million Meanwhile a coalition of nine European banks including ING and UniCredit is developing a euro-denominated alternative further signaling the acceleration of stablecoin adoption across continents

Citi stands out with its investment in BVNK a leading stablecoin infrastructure startup valued around $750 million according to cofounder Chris Harmse Demand for such infrastructure is rising rapidly especially after the US GENIUS Act provided clearer regulatory guidance paving the way for major institutions to enter the market with confidence

Citi CEO Jane Fraser has already confirmed that the firm is exploring the launch of its own stablecoin and digital asset custody services echoing similar moves by JPMorgan Chase with its JPMD token The global banking sector is converging on blockchain not as an experiment but as an operational necessity

What began as a decentralized innovation is now being reshaped by the world’s most influential banks into a compliant interoperable foundation for digital money The age of currency-backed stablecoins issued by global institutions is no longer a theory it is becoming the next chapter of mainstream finance

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22 травня 2025 року країни G7, очолювані Канадою, ухвалили спільну заяву, в якій підтвердили, що російські суверенні активи на суму близько $300 мільярдів залишаться замороженими, доки РФ не припинить агресію проти України та не компенсує завдані збитки. Це рішення підкреслює тверду підтримку G7 України у її обороні та відбудові. Заява є частиною ініціативи G7 Extraordinary Revenue Acceleration (ERA), що включає позику на $50 мільярдів для України, профінансовану за рахунок прибутків від заморожених активів. Канада, Великобританія та Японія вже виділили значні кошти на підтримку української армії та реконструкцію. Незважаючи на певні розбіжності, зокрема блокування США деяких заяв G7, група залишається єдиною у прагненні притягнути Росію до відповідальності. Цей крок є чітким сигналом Москві: мир і компенсації – беззаперечні умови. Слідкуйте за новинами про глобальні фінансові стратегії з #MiningUpdates .
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