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The G7 countries – the US, UK, Canada, Germany, France, Italy and Japan – will convene this weekend in Kananaskis, a rural town in the mountains of Alberta, Canada. High on the meeting’s agenda are tariffs, artificial intelligence, and international security, with special focus on Russian sanctions and Israel’s recent attacks on Iran.
While the G7 was originally formed as an informal grouping of the world’s wealthiest democracies, the BRICS – composed of Brazil, Russia, India, China, South Africa – have sought to challenge their dominance of the global agenda.
Here’s a look at how the share of the global economy held by G7 and BRICS nations has evolved over time.
A gas station in Düsseldorf, Germany, on June 10, 2025.
12%: Oil prices spiked 12% in early trading on Friday following Israel’s attacks on Iran, reflecting fears that a wider Middle East conflict could restrict access to crude exports. Later in the morning prices softened slightly, but were still up nearly 9%, to more than $75 per barrel.
4: Although school shootings are rare in Europe, four of the worst incidents this centuryhave occurred since 2023, raising concern about whether the phenomenon – until now largely a US problem – is spreading more rapidly.
3: Is the wait over? Millions of BTS fans hope so. The K-Pop supergroup has not performed together in three years due to its members’ mandatory South Korean military service. But now that they have been discharged (honorably!), rumors are flying that the group could take the stage again at a festival outside Seoul this weekend.
1.5%: Argentina’s monthly inflation fell to just 1.5% in May. That’s the lowest level in five years – and a stark fall from early 2024, when it exceeded 25%. President Javier Milei’s radical cost-cutting policies have helped put a lid on rising prices.
50%: China’s production of baijiu liquor, the country’s go-to tipple, has dropped more than 50% since 2016. Demand for alcohol overall in China is plummeting as a result of changing tastes, a slowing economy, and a new campaign to stamp out drinking among the Communist Party’s 100 million members.East and West German citizens celebrate as they climb the Berlin Wall at the Brandenburg Gate after the opening of the East German border was announced, on November 9, 1989.
– By Willis Sparks
Sometimes I find myself talking with one of my super-smart, well-informed younger acquaintances about some major event from “recent” history. I’ll tell them I remember watching nightly coverage of the fate of Americans held hostage in Tehran by furious Iranian students while I was in high school. Or, sitting on the floor of my grad school apartment, watching live TV coverage of Chinese tanks crushing Chinese protesters, and later of giddy Germans dancing and drinking atop the Berlin Wall. Then there’s the sunny fall morning when a plane struck a tower in lower Manhattan.
Then I remember that the person I’m speaking with wasn’t yet born when most (or any) of these things happened.
Everywhere in the world, succeeding generations have formative experiences that shape their understanding not only of the past but of the present and future. When we think about the politics of various countries today, this “horizon of memory” can help us consider something important about what’s happening and why.
50.5% of Americans are under 40. This means they have little memory of the Cold War, and didn’t grow up with the assumption that America has a “responsibility to lead” on the global stage. If you didn’t experience Cold War hopes and fears firsthand, you might find it odd that US presidents were once called “leader of the free world.”
43.3% of Germans are under 40. I haven’t visited Berlin since there were two of them. I went in the spring of 1990 because I wanted to put my hand on the Wall, to touch history, before it was gone. No German under the age of 40 will remember that surreal historical inflection point or the complex (sometimes contradictory) feelings triggered by Germany’s reunification.
45.9% of Russians and 42.4% of Ukrainians are under 40. No Russian under 40 will remember the Soviet superpower and the daily life that came with it. Even the Mikhail Gorbachev-period that I saw for myself on a visit to Moscow in April 1989 will be largely unfamiliar. Across the border, no Ukrainian under 40 will remember life in an empire ruled from the Kremlin. On both sides of the border, Vladimir Putin’s arguments about Russia’s historic claims to Kyiv land differently with people over 60 than those who are 30.
69.4% of South Africans are under 40. Everyone in that country knows the African National Congress was once the party of liberation. But unless you’re over 40, you likely won’t remember the astonishing day in February 1990 when a smiling Nelson Mandela, imprisoned for 27 years, walked out of his small cell in suit and tie. Nor will you recall the widely shared jolt of raw idealism when he became his country’s president. If you’re under 40, the ANC is the party of power.
64% of Brazilians are under 45. No Brazilian under 45 can remember living under the military dictatorship that was the “Fifth Brazilian Republic,” which lasted from 1964 to 1985. For them, debates over threats to democracy posed by former President Jair Bolsonaro might not resonate as they do for their parents.
78% of Iranians are under 50. No Iranian under 50 will remember life before the revolution that established the Islamic Republic (1979). They know the days of the Shah only through the happy or unhappy memories of their parents and the ideological education they continue to receive.
Without doubt, these events are crucial for all of us. No matter our age today, these are the movements of history on which we build the world around us. But I know my grandparents understood the poverty and fear of the 1930s differently than I ever can. My parents came of age in the peaceful but paranoid 1950s and entered adulthood with the Cuban Missile Crisis.
At 60, I’m blessed to have seen some dramatic historical turning points and to value the perspective they offer. But I’ve also learned that politics, anywhere and everywhere, is impossible to understand without reminders of our horizons of memory — and respect for the assumptions, beliefs, and aspirations of those who’ve engaged the wider world since.
What memories of historical events have shaped your worldview? Let us know here, and if you include your name and where you’re writing from we may include your response in an upcoming edition.People light candles outside Santa Fe Foundation hospital, where Colombian Senator Miguel Uribe Turbay of the opposition Democratic Center party was shifted to from another hospital, after he was shot during a campaign event, in Bogota, Colombia, on June 7, 2025.
On Saturday, a Colombian presidential candidate was shot in the head at a rally in the country’s capital, Bogotá. Three days later, a series of bombs went off in and around the third largest city, Cali, leaving at least four dead. The sudden surge of violence has many Colombians wondering if the country is headed back to a darker time.
“It’s a painful memory of where we come from,” says Colombia Risk Analysis director Sergio Guzmán. “Back then, political candidates were falling like flies.”
What was “back then”? In the 1980s and 1990s, Colombia suffered the worst of a decades-long internal conflict that left 220,000 dead, tens of thousands missing, and millions displaced. Initially a fight between Marxist rebels and the government, it rapidly expanded to include powerful drug cartels and right-wing paramilitaries. The violence was especially acute during the 1990 presidential campaign, when three candidates were assassinated, at least one of them by Pablo Escobar’s fearsome Medellín Cartel. In the early 2000s the state regained ground from the guerillas and the cartels, laying the groundwork for a 2016 peace accord with the main guerilla groups.
But amid rising violence generally, the assassination attempt on Senator Miguel Uribe has rattled a country on edge.
“The shooting is the most significant assault on a presidential hopeful in several years,” says Antonio Espinosa Calero, Eurasia Group’s Andean Region Researcher. “It has certainly fueled anxiety about instability and violence ahead of the upcoming election.”
The shooting isn’t the only reason for the country’s collective anxiety. President Gutavo Petro hasn’t been able to keep a lid on the drug cartels, crime is on the rise nationwide, and political violence has spread across nearby countries – like Ecuador and Mexico.
Wasn’t there a peace deal? Yes. Under the 2016 peace accord between the government and the Revolutionary Armed Forces of Colombia, known as FARC, members of the guerilla group agreed to hand over their weapons to the government, in exchange for amnesty and political participation.
This hasn’t fostered peace? It has not. Instead, the drug cartels – which were not part of the peace deal – have filled the void, along with other guerilla groups that refused the peace. From 2021 to 2024, the number of kidnappings jumped 72%, while the number of extortion cases more than doubled. Cocaine production has reportedly reached record levels. Killings of human rights activists and other social leaders have soared.
Has the president tried anything? Elected in 2022, Petro tried to implement a Total Peace (“Paz Total”) to rid the country of violence. The former guerrilla fighter, Colombia’s first leftist president, tried to reach accords with every major armed group in the country. The plan has failed to bear fruit, as talks with groups like ELN – a dissident rebel group – have repeatedly broken down. The kidnapping of a famous soccer player’s father in 2023 only underscored the sense of chaos.
Politicians’ use of violent rhetoric hasn’t helped the situation, Colombia experts say. Petro is renowned for using provocative language in his social media posts, and he has already hinted at a conspiracy behind the shooting of Uribe.
“The presence of President Petro on social media,” Atlantic Council’s Colombia expert Enrique Millán-Mejía, has contributed to “an environment of political violence.”
Petro’s opponents – Uribe among them – have often responded in kind. The senator himself posted on X in May, “Every day Petro is in power, Colombia bleeds.”
Where does Colombian politics go from here? It’s a boost for the tough-on-crime candidates who seek to replace the term-limited Petro next year. A poll last year found 85% of adults believe the security situation is getting worse, and this assassination attempt will likely increase those numbers.
“The shooting will amplify public demand for change and concerns over safety in Colombia,” says Espinosa Calero, “likely benefiting conservative and tough-on-crime candidates in the lead-up to next year’s general elections.”
On Ian Bremmer’s World In 60 Seconds: Ian breaks down the assassination attempt on Colombia's presidential candidate, the US-China trade talks, and Canada plans to hit NATO's 2% defense target seven years early.
Ian's takeaways:
An assassination attempt on a Colombian presidential candidate highlights that “security continues to be a really serious problem,” as opposition momentum grows amid President Petro’s struggles.
On US-China trade, Ian says, “There is real progress happening,” as factory shutdown threats push both sides toward short-term stability, even if long-term trust remains elusive.
And Canada’s plan to hit NATO’s defense target early? “It’s about Trump,” Ian notes, as Ottawa moves to ease tensions with Washington ahead of 2025.
Hard Numbers: Trump issues sweeping travel ban, BoC holds rates steady, US funds “self-deportations,” and more...
US President Donald Trump speaks as he attends a “Summer Soiree” held on the South Lawn of the White House in Washington, D.C., USA, on June 4, 2025.
12: US President Donald Trump has banned visitors to the US from 12 countries: Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. Another seven countries will face greater restrictions. The ban, which Trump based on national security grounds, takes effect on Monday.
2.75: The Bank of Canada held its key interest rate steady for the second time in a row, leaving it at 2.75% amid uncertainty about the extent and effect of US tariff increases. The bank said it may still cut rates later this year if the economy continues to struggle.
20: US intelligence believes Ukraine’s expansive drone attack on Russian airfields last weekend struck just 20 planes, destroying 10 – half the numbers claimed by Kyiv. Still, the damage was significant and Russia will respond “very strongly,” according to Trump, who spoke with Russian President Vladimir Putin on Wednesday.
$250 million: The US State Department has earmarked $250 million to cover travel expenses for migrants without legal status who chose to “self-deport.” The money has been repurposed from funds previously used to aid refugees.
31: Oilers forward Leon Draisatl scored with 31 seconds left in the first extra period, to give Edmonton a comeback win in game 1 of the Stanley Cup Finals against the defending champ Florida Panthers. As many of our readers will be (painfully) aware, a Canadian team hasn’t won the cup since 1993.
On Ian Bremmer’s World In 60 Seconds: Ian breaks down the rift between President Trump and Elon Musk over Trump’s “big beautiful bill”, Mexico’s democratic backslide, and South Korea's new leadership.
Ian's takeaways:
On Trump-Musk feud: “I think Elon is mad at a bunch of stuff right now. And as we know, he's not exactly stable in how he puts his views out as he has them.”
On Mexico’s judicial reform: “It’s really bad for democracy… and leads to a lot more corruption.”
On South Korea’s new leadership: “He (Lee Jae-myung) says he wants to govern as a centrist, but I suspect he’s going to govern more to the left.”