When the G7 Loses Its Cohesion and ‘Mojo’
... the group has remained practically unchanged with the exception of 1997-2014, when Russia's participation temporarily expanded G7 into a larger G8. Ivan Timofeev: Why Multilateral Diplomacy Is in Crisis The mid-1970s were not the easiest time for the West. Still, half a century ago, the G7 group was an unquestionable leader of the global economy and, in many ways, even a universal symbol of modernity itself. In the 1980s, it accounted for a significant portion of the global GDP measured on the purchasing power parity (PPP) basis. Today,...