The balance of global economic power has shifted, according to US economist Richard Wolff. He warns that the United States and its G7 allies are no longer the dominant bloc on the world stage. Wolff stated, “We peaked about 12-15 years ago, and we are on the way down.” He pointed out that the G7’s combined GDP now represents 28% of world output, while China and the BRICS have taken over with 35% control. This shift marks a significant change in the global economic landscape, indicating a decline in US and G7 influence.
American Empire Peaked 15 Years Ago, BRICS Now Ahead Of G7: Economist Richard Wolff
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