Shifting Tides: How Canada and the G7 Can Lead in a Changing Global Economy
Over the past three decades, the G7’s relative economic dominance has been steadily eroding, while emerging economies — led by China, India, and other Asia-Pacific nations — have surged ahead, capitalizing on younger populations, rapid industrialization, and growing centrality in global manufacturing and trade. By 2030, Asia-Pacific economies are expected to account for nearly 50% of global GDP, with China and India alone projected to generate 30% of global output within just five years.
In response to this shifting global order, the 2025 B7 Communiqué, a joint effort by the Business 7 (B7), highlights the need for the G7 to engage more strategically with emerging economies to foster sustainable global growth. The Communiqué calls for targeted action in areas such as securing critical minerals supply, improving global trade efficiency, and advancing responsible AI and digital technologies adoption — sectors in which collaboration with China, India, and other dynamic economies can drive mutual benefit.
If G7 nations want to shape the next chapter of the global economy rather than watch from the sidelines, bold, united action is required. By 2030, the combined GDP of the U.S. and Canada is expected to exceed that of the rest of the G7, signaling a chance for North American leadership — alongside deeper global engagement. Canada’s path forward is clear: Investing in productivity, innovation, trade diversification, and talent will position the country not just to compete, but to lead and collaborate in this rapidly evolving economic landscape.
