NORTH VS. SOUTH: BRICS VS. G7 ECONOMIC RIVALRY

The paper examines the role and significance of the G7 and BRICS in the global economy, and compares the economic dynamics of the G7 and BRICS countries. The economic indicators of the G7 and BRICS member countries over the past decade are analyzed, including GDP growth rates, inflation processes and the state of the trade balance. A comparative analysis of the economic progress of the G7 and BRICS countries is especially considered. The conclusion of the article focuses on possible changes in the global economic structure under the influence of the growing importance of BRICS and considers further prospects for the development of these two economic associations.