How G-7 Nations Plan to Counter Rising Clout of Russia and China
As the US and its allies seek to regroup on Ukraine aid, new partnerships backed by China and Russia are becoming more influential.
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It’s been a decade since the Group of Seven kicked Russia out. Now the US-led club accounting for 44% of the global economy has come to terms with its limitations while embracing its resilience.
Both China and Russia are having success wooing emerging economies in the loosely-defined Global South and view the US and its allies as aggressors who foment war and use sanctions to achieve their geopolitical goals. The G-7 is wooing the same countries and, at a summit this week in Southern Italy, has found a creative solution on how to use the interest from Russian frozen assets to support Ukraine.