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G7
EconomyGlobal Economy

Explainer | Will China and its E7 emerging economies render the G7 a redundant clique?

  • The Emerging 7 (E7) consists of the BRIC countries of Brazil, Russia, India and China plus Mexico, Indonesia and Turkey.
  • It is not an actual forum nor alliance like the Group of 7 (G7), but rather a concept created by two economists in 2006 to highlight the economic potential of emerging countries

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Unlike the Group of 7 (G7), the E7 is not an actual forum or alliance, but merely a concept created by economists John Hawksworth and Gordon Cookson in 2006 to highlight the economic potential of emerging countries versus advanced economies. Photo: Xinhua
Cyril Ip

What is the E7?

The Emerging 7 (E7) consists of the BRIC countries of Brazil, Russia, India and China plus Mexico, Indonesia and Turkey.

Unlike the Group of 7 (G7), the E7 is not an actual forum nor alliance, but merely a concept created by economists John Hawksworth and Gordon Cookson in 2006 to highlight the economic potential of emerging countries versus advanced economies.

In comparison, the G7 was created in 1973 and includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, while the European Union is also represented.

Invitations were also extended to India, Australia, South Africa and South Korea at the most recent summit held in Britain in June.

Some economists have suggested that more attention should be paid to the E7, whose growth rates have exceeded that of the G7 over the past two decades.

How does the E7 compare with the G7 in economic terms?

In 1995, the E7 was half the size of the G7 in economic terms, but by 2015, the E7 was around the same size as the G7. By 2040, the E7 could be double the size of the G7, according to PwC.

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