In 2025, Canada will host the prestigious G7 Summit, a moment of immense significance for the world's leading democracies. As the summit returns to North American soil, the host nation will be under the leadership of Prime Minister Mark Carney, an economist of global repute and a former Governor of both the Bank of Canada and the Bank of England. With his unique blend of political authority and economic insight, Carney has the ideal platform to steer the G7 toward a transformative vision.
At the heart of this summit should be a singular, unifying economic goal: to build a road map for a combined $140 trillion GDP among G7 nations by the year 2050. This ambitious target must not merely be a headline, it must be the main agenda. The economic stakes, geopolitical shifts, and global uncertainty make it a necessity, not a choice.
The Changing Global Landscape: A Wake-Up Call
The 21st century is seeing a monumental shift in economic and geopolitical power. Emerging nations in Asia and the Middle East are asserting themselves with increasing confidence. China has already emerged as a major economic force, while India is projected to become the third-largest economy by the 2030s. Gulf nations, once narrowly defined by oil wealth, are now investing aggressively in tech, defense, infrastructure, and education.
Meanwhile, Africa, home to the fastest-growing population on
the planet, will inevitably become a dominant demographic and economic hub in
the latter half of the century.
This changing landscape poses a direct challenge to the relevance and influence of the G7, whose share of global GDP and population is steadily declining. While the G7 still represents a powerful bloc, it can no longer rely on legacy status. Without a concerted strategy to remain economically dominant and institutionally relevant, the group risks being overtaken, not just in output, but in agenda-setting power on issues of trade, climate, AI, security, and governance.
Why a $140 Trillion Combined GDP Is Not Optional
As of 2024, the combined GDP of G7 countries stands at around $42–45 trillion, representing roughly 40% of global output. To reach $140 trillion by 2050 would require these nations to more than triple their economic size in 25 years, implying an average compounded annual growth rate of around 3.5%, a challenging, but realistic goal given the scale of opportunities.
Here’s why this target should be the bedrock of the 2025 summit:
1. Preserving Strategic Global Influence
Economic power translates directly into geopolitical leverage. G7 nations have traditionally shaped global rules, standards, and institutions. If their economic clout diminishes, so will their ability to influence international diplomacy, multilateral reforms, climate policy, and digital governance.Without an economic revival, the G7 risks ceding narrative power to authoritarian regimes and non-democratic economic models.
2. Mitigating Fragmentation Among Allies
The G7 today is more economically and politically fragmented than at any time in recent memory. Trade disputes, diverging climate policies, and digital protectionism have weakened coordination. A unified $140 trillion goal could serve as a common framework for cooperation, integrating policies across energy, innovation, AI, defense, and infrastructure.
3. Funding Social Stability and Innovation
A growing economy is the only sustainable way to finance aging populations, green transitions, public healthcare, and educational systems across the G7. Flat or declining growth will force cuts and deepen inequality, fueling internal discontent and political polarization.
A $140 trillion GDP allows governments to invest more in R&D, military modernization, and youth employment, thus reinforcing the foundations of liberal democracy.
How the G7 Can Realize This Vision
Achieving this target is not a matter of issuing lofty declarations. It demands coordinated, sector-specific action, and this is where Prime Minister Carney's economic leadership could be transformative.
a. Green Energy and Climate Capitalism
The clean energy transition could be the G7’s biggest economic lever. From solar, wind, and hydrogen to electric vehicles and battery storage, decarbonization can drive trillions in new investment.
A unified carbon pricing framework, joint climate innovation funds, and green infrastructure corridors should be pillars of the G7 growth strategy.
b. Technology and Artificial Intelligence
AI, quantum computing, and digital finance will define economic supremacy. G7 nations must jointly invest in shared AI research infrastructure, establish global standards, and create safeguards against misuse.
Rather than competing, the G7 should build a common digital ecosystem anchored in transparency, privacy, and innovation.
c. Defense and Strategic Autonomy
Military modernization must go hand in hand with economic growth. With rising regional tensions in Eastern Europe, the South China Sea, and the Middle East, G7 nations cannot afford defense dependency or underfunded armed forces.
A growing economy gives G7 nations the fiscal room to upgrade deterrence, invest in cyber resilience, and counter hybrid warfare.
d. Demographic Realignment
Several G7 nations face aging populations and shrinking labor forces. Economic growth will stall unless tackled head-on. This calls for:
Immigration reforms
Incentives for workforce participation
Investment in AI-augmented productivity tools
Shared demographic strategy could be a key G7 coordination theme.
e. Infrastructure & Interoperability
Interconnected infrastructure, from high-speed rail to digital connectivity, can create regional economic value chains. The G7 should fund cross-border smart infrastructure projects, especially in energy grids, ports, and 6G connectivity.
The Role of Prime Minister Mark Carney
Mark Carney’s appointment as Prime Minister places Canada at a unique crossroads. Few world leaders possess both the macroeconomic expertise and institutional credibility that he does. His experience navigating post-crisis reforms and advocating for climate-financial integration positions him perfectly to champion this agenda.
At the summit, Carney can:
- Lead the design of a G7-wide Economic Growth Framework.
- Launch a “G7 2050 Taskforce” to monitor implementation.
- Propose a $1 Trillion G7 Infrastructure Investment Vehicle.
- Push for AI and digital innovation compacts among allies.
More importantly, he can frame this agenda as a generational responsibility, not merely a political initiative.
Why This Summit Must Be Different
The 2025 G7 Summit must not be a routine gathering of leaders posing for family photos and issuing vague communiqués. The world is watching, and so are G20 challengers, BRICS+ competitors, and rising powers across Asia and Africa.
This summit, under Canada’s stewardship, must set the tone for the next 25 years, declaring clearly that the G7 will not fade into irrelevance, but rise again with purpose, unity, and vision.
A $140 trillion combined GDP is not just an economic ambition, it is a declaration that the world’s oldest democracies are not retreating from leadership, but rather adapting, evolving, and preparing to lead in the era to come.
Conclusion: G7 in Canada, Vision for the Future
Under Prime Minister Mark Carney’s leadership, Canada has the opportunity to host the most consequential G7 Summit of the century. The world doesn’t need symbolic gestures; it needs vision backed by numbers, strategy, and
commitment.
The G7 must embrace a collective goal: $140 trillion by 2050. This vision is bold. But so were Bretton Woods, the Apollo Project, and the Marshall Plan. History does not remember cautious nations, it remembers those that dared to shape the future.
Let this summit be that moment!.
