Developing countries overtake developed ones
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FOR the first time the BRICS countries have overtaken the G7 in terms of aggregate gross domestic product. By the end of 2022, the GDP of the BRICS reached 31.5% of the global economy, while the share of the G7 was 30.7%. The significant growth of economic power of the BRICS can easily be called a landmark event not only in the economy, but also in world history. For several centuries, the leading industrial, financial and political centers of the world were located in the West. Europeans, and later the US, dominated development for a long period, and...