Last month, American economist Richard Wolf recently described a tremendous description of the declining impact of Washington on India. Wolf had said that America’s India to tell what it has to do, it is as if the rat punched the elephant. It is fun, but not scary. Wolf’s comment was not a minor matter. After the second world war, the global economy is going through its most important changes. In economic and political matters, the dominance of West seems to be decreasing.
The biggest reason for this is the increasing dominance of BRICS countries in Global Economy. Due to which the land of Group G7, the largest and powerful group of western countries, has been seen to be weakened continuously. The special thing is that BRICS is now competing with G7 not only in the major standards of production and growth, but has also gone beyond that. Talking about the data, the share of global production of China, India, Russia and other countries of BRICs has reached 35 percent. While G7 has come to about 28 percent.
Statistics are telling the story
According to the Economic Outlook of IMF, the joint GDP of eleven BRICS members will increase by 3.4 per cent in 2025, which is more than 2.8 per cent of the global average. In 2024, the growth of this group was seen 4 per cent, while the global growth rate was 3.3 Fabsadi. Talking on the basis of PPP, BRICS already is 40 percent of the global economy, and it is expected to reach 41 percent in 2025. Conversely, G7 holds 28 per cent stake and is falling even more.
According to the BRICS block’s Brazil website, Professor Rodrigo Sejar of International Relations at the Gateulio Sawas Foundation in Brazil argues that the “diversity” of the BRICS block is both its challenge and strength. BRICS represents more than 40 percent of the world’s population and includes commodity powerhouse like Russia and Brazil.
How much is the speed of Biks countries
In the pre -IMF estimates, Ethiopia (6.6 per cent), India (6.2 per cent), Indonesia (4.7 per cent), UAE (4 per cent) and China (4% per cent) were at the forefront of the growth of BRICS countries in 2025. In terms of global GDP stake, China is at the forefront of 19.6 per cent, followed by India 8.5 per cent, Russia 3.4 per cent, Indonesia 2.4 per cent and Brazil 2.3 per cent.
The IMF has slightly revised India’s actual GDP growth estimate for 2025 to 6.4 per cent, which is more than the April estimate. Caesar briefly said that if you take the average of the whole group, then there will be some countries which will give momentum to growth, while there will be some whose speed will be very low. But at least one large member will definitely develop almost strong, and this will boost the entire group.
Need to look ahead of economics
Statistics matters, but what they show also matters. While G7 gained 1.7 per cent growth in 2024 and it is estimated to be slow by 1.2 per cent this year, the average growth of BRICS was 4 per cent last year and is estimated to be 3.4 per cent for 2025. According to the BRICS block’s website, Sezer said that it is not only financially, but also politically important, because the BRICS also puts the option of G7 with American dominance.
For decades, G7 – America, Canada, Britain, France, Germany, Italy and Japan – have been determining the rules of Global Economy and have hoped that others will also follow them. This notion does not apply anymore. BRICS, which now includes Saudi Arabia, Egypt, Ethiopia, Iran and United Arab Emirates, is the basis of a large part of global South with demographic effects and control on resources and supply chains.
India at the center of BRICS and Global Economy
India’s role is important in this rebelnce of Global Economy. The United Nations has considered it to be the most populous country in the world, leaving it behind China. Wolf jailed for refusing to bow down to western pressure on Russian oil imports. He said that America’s tell India what it has to do, it is like a rat’s elephant punching. The biggest question is what is its message?
In fact, Washington’s influence is no longer the same. Tariffs or restrictions can prick, but they do not determine the results. Wolf argued that this makes the integration of the BRICS and deeper. If you closes the way for India by putting big tariffs, then India will have to find other countries to sell your exports. You are making BRICS an even bigger, more integrated and successful economic option than the West.
Washington’s wrong estimates
Washington’s frustration has turned into rhetoric. White House business advisor Peter Navaro called the Ukraine dispute even “War of War” and accused India to be arrogant on importing Russian oil. But Wolf replied that the tariffs are suicidal: Any company that is currently making something in Brazil, China or India will not decide to spend a huge amount to take production back to America. This is not rational at all.
Meanwhile, America’s weaknesses are increasing. The federal date has increased to about $ 36 trillion, which has been compensated for a long -time foreign holders of American treasures. But China is constantly cutting debt, and other countries can do the same, which will have to face Washington high date cost and frugality. In contrast, BRICS members are investing in infra, exporting goods and rapid urbanization, which is compensating the pressure on most of the G7.