When we look at the history of G7, we see that many important events and decisions that left their mark on world politics were taken by this group. In 1975, leaders of six countries convened at the invitation of France and decided to strengthen international cooperation to tackle energy and economic crises. This meeting later evolved, with Canada’s participation, into the group known as G7.
The Plaza Accord in New York in 1985 was a significant turning point in regulating exchange rates. G7 countries decided on coordinated interventions to lower the value of the dollar and reduce trade imbalances. This agreement was hailed in leading newspapers of the time as a ‘milestone for international financial stability’.
At the summit held in Lyon in 1996, G7 leaders reached an agreement to strengthen environmental policies in line with combating global warming and sustainable development goals. It was a crucial step in shaping global policies on climate change.
At the Washington Summit in 2008, G7 leaders agreed on a comprehensive action plan to alleviate the impact of the global financial crisis. Measures such as bank recapitalization, ensuring market liquidity, and strengthening financial regulations were critical for global economic stability. Decisive steps were taken to rescue the global economy following this meeting.
At the Elmau summit in Germany in 2015, G7 leaders supported the fundamental principles of the 2015 Paris Climate Agreement and committed to reducing carbon emissions. This was a significant milestone in strengthening international cooperation on combating climate change.
In recent weeks, the Group of Seven industrialized countries – Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States – gathered in the city of Apulia, Italy. This was the 50th session of the group, which has been meeting regularly since 1975. G7 aims primarily to uphold the existing world order based on multilateralism, universal human rights, liberal democracy, and free trade.
At the Apulia summit, G7 leaders called for strengthening the international order. They decided to provide $50 billion to Ukraine, supported a two-state solution for Israel and Palestine, and aimed to strengthen ties with countries in Africa and the Indo-Pacific region. The summit also discussed food security, climate resilience, irregular migration, financial stability, and the benefits and risks of artificial intelligence.
Although G7 emphasizes maintaining a rules-based world order and preserving Western hegemony, the reality is different. The current world order is no longer as it used to be. New centers of power have emerged, especially major economies in Asia. The rise of China, a resurgent Russia, and Brazil. Groups such as BRICS, consisting of Russia, India, China, and South Africa, and the Shanghai Cooperation Organization (SCO), formed in 1996 by China, Russia, Kazakhstan, Kyrgyzstan, and Tajikistan, have changed the structure of the international order dominated by the West.
Despite China being the world’s second-largest economy and leading in defending a rules-based international order, it was not invited to the summit. The geopolitics of great power competition overshadowed the spirit of cooperation; meanwhile, China continues to call for reviving the spirit of globalism.
G7 has often been criticized globally for trying to impose its interests forcefully. This concern somewhat decreased with the establishment of the G20. The G20 includes the strongest 19 economies, the European Union, and the African Union. However, both these groups continue to undermine the United Nations’ universal impartiality.
At the Apulia summit, G7 countries announced that they would provide $50 billion in aid to Ukraine using seized Russian assets. This was a response to Russian President Vladimir Putin, who set conditions for starting peace talks, including Ukraine withdrawing from areas occupied by Russia and abandoning efforts to join NATO. Criticizing G7’s decision, Putin described the use of Russian assets to finance the Ukraine war as ‘theft’ and warned that it ‘will not go unpunished’.
At the Ukraine peace summit held in Switzerland after the G7 summit, India, Saudi Arabia, Mexico, Brazil, South Africa, Indonesia, and the United Arab Emirates did not sign the joint statement. These countries argued that negotiations should involve Russia, particularly for achieving peace in Ukraine. South Africa objected to Israel being invited to the summit immediately after being declared a war criminal. China did not attend the meeting.
The crisis in Ukraine remains unresolved. Legally, Ukraine is justified in defending its territorial integrity. Politically, Russia argues it is provoked by NATO’s constant eastward expansion despite previous assurances.
The Apulia summit of G7 once again demonstrated Western efforts to preserve the current world order. However, changing dynamics in global politics and the emergence of new centers of power question the sustainability of this order.
Throughout its history, G7 summits have been platforms where decisions affecting global economic and political balances have often been made. However, today’s unilateral approaches and great power competition pose significant obstacles to multilateral cooperation. In this complex geopolitical environment, developing countries must adopt a balanced stance. Defending Ukraine’s territorial integrity is crucial for upholding international law; however, strategic pressures from the West, closer ties between Russia and China, require careful and balanced diplomacy.
The historical strength of G7 lay in principles of cooperation and multilateralism. Reviving these principles is crucial for the future of both G7 and the world order. Otherwise, the world will descend into deeper chaos, and hopes for peace will be lost amidst the interests of great powers.
