This year’s G7 annual gathering of developed economies in Biarritz, France, yielded very little in the way of solutions for a sagging and troubled global economy, and the various social and environmental challenges facing globalisation.
The ineffectiveness of this select group in influencing the course of world development is doubtless due to a variety of profound changes, both global in nature and country-specific. But, the main underlying reason for their inability to effect change is essentially due to their relatively declining role in world economic growth.

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