BRICS and G7: New Energy Race and Struggle for Resources

BRICS are taking control of key resources and threatening G7 dominance. What does this mean for the global economic architecture?

BRICS vs G7: Balance of Power and Gold

The world is changing, but not with a bang, but slowly and inexorably. There are two players on the global chessboard: the G7, clutching at their gold and foreign exchange reserves, and the BRICS, which seems to have finally decided to challenge them. Who will take the global crown?

Economic heavyweights

The G7 is a club of global economic giants that used to rule the roost. They control 43% of global GDP, and they are confident that this will continue forever. But while the West enjoyed its dominance, the BRICS economies began to grow rapidly. With 31.5% of global GDP and double-digit growth rates, they have the old giants looking nervously over their shoulders. Not so harmless “emerging countries” as they were once called.

Gold is the basis of power

Gold is something the G7 can really count. With 12,000 tons in their vaults, they sleep soundly, especially when the US holds 8,133 tons of the precious metal. The BRICS have only 5,263 tons. Yes, that's a lot, but somewhere on the horizon, all these numbers are already starting to fade in the face of change.

Oil and Resources

What really matters is oil. And here the BRICS are making a powerful move: they control 43% of the world's oil production, which, to put it mildly, makes the West nervous. While the G7, despite all their wealth, can offer only 9% of the world's oil. Yes, money is good, but resources, especially on this scale, are the future.

Minerals and Green Energy

What about green energy? The BRICS don’t just produce oil, they sit on mountains of rare earth metals — 72% of the world’s reserves! These metals are the key to the future. Without them, no electric car or solar panel will “take off.” And guess what? 83% of the platinum for advanced batteries is mined in the BRICS countries.

While the G7 invests in technology, BRICS control raw materials, and without them no green revolution will happen. China is already the leader in solar panels, and their plans are ambitious – 1 TW of solar capacity by 2026. And what about electric cars? By 2035, more than 60% of all new cars in the BRICS countries will be electric. And this is not hypothetical, it is reality.

The future is in BRICS

While the G7 countries can expect GDP growth in the region of 1-2% Every year, BRICS is moving forward at an average rate 5-6%. By 2050, the BRICS countries are projected to increase their economies by 189-205%while the G7 countries are only 50%. This is no longer a short-distance race, but a marathon, where the BRICS are laying the foundations for many years of dominance.

Author's opinion: eEconomic wars are for those who prefer quiet offices to noisy battles. The BRICS seem to be playing the long game, and their resources are impressive, no matter what you say. Rare earth metals, oil, green energy – it all sounds like a drawn-out game of chess, where moves are planned for several decades in advance. The G7, like the old school, may be ready for quick victories, but the BRICS have everything they need to end the game with a victory.

I would call it the time dilemma – those who have more of it can afford to accumulate power, and in the end, no one is immune from waking up one day and realizing that the rules have changed.

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