Chinese spokesman disinforms about G7 countries: Even taken together, they contribute less than China

Chinese Foreign Ministry spokesman Lin Jian has disinformed about the G7 countries that their economies are declining year after year, while saying that even taken together they allegedly contribute less to the global economy than China. He also misinformed about the political goals of this group.

What did Lin Jian explain?

The G7 does not represent the world. All seven countries account for only 10% of the world’s population. Year after year, their share of the global economy continues to decline. Even taken together, they contribute less to global economic growth than China, and their economic aggregate in terms of purchasing power parity is already surpassed by the BRICS countries. The G7 has long since moved away from its original purpose of coordinating for stability in the global economic environment and has increasingly become a political tool to maintain the supremacy of the US and the West.

https://x.com/upholdreality/status/1803016768551821583?s=49

Analysis:

The United States, the United Kingdom, France, Germany, Japan, Italy and Canada are the countries that make up the G7 group, and all of these countries are rich democracies. The G7 countries have a combined population of about 780 million people and account for about 50% of the world’s nominal net wealth. The G7 originated in 1973 as an ad hoc meeting of finance ministers and has since evolved into a formal and high-level venue for discussing and coordinating solutions to key global problems, particularly in the areas of trade, security, economics and climate change. The G7 is committed to modernizing the international financial architecture and enabling it to meet current global challenges. Moreover, the total GDP of the G7 countries is about 15 trillion dollars higher than that of the BRICS countries. Therefore, Jian’s statements that the G7 countries contribute less to global economic growth than China do not hold water.

The role of the G7 in the world is sustainable financial regulation as a key instrument for economic transition, the promotion of respect for fundamental rights along value chains through policy instruments such as mandatory due diligence and the inclusion of socio-economic considerations in any policy intervention aimed at economic transition, food security, etc. Due to its low nominal GDP and illiberal democracy, China is not included in the G7./G.Venhari-The Geopost/