Decline of the G7

 I decided to look it up. 

 In 1980, the GDP of the G7 was 61% of the World GDP, so more than half of all the money. But times change. Back then, the US had the largest GDP by far.

But now, the PRC are the largest economy at PPP, and India are now #3 (the US has fallen from the #1 economy to 2nd place). 

 So where are the G7 now? Using nominal GDP, the combined GDP of the G7 is just 43.5%, so less than half, but at PPP, the combined GDP of the G7 is just 30% of world GDP. Which means one is not stuck with the G7 as potential customers: they have fallen from 61% of world GDP to just 30%. Which means one can sell to the 70% of world GDP if the G7 decide to sanction all your products.

It gets even more interesting. PPP, as I wrote before, is not obvious. How, exactly, does one measure the equivalent value of one economy in terms of another economy? Which means that there are at least two major rankings, and one of them puts Russia as the 5th largest economy in the world at PPP, while the other puts Russia in 6th place behind Germany. Based on what I've seen, I'm guessing Russia as the 5th largest GDP in the world at PPP is probably correct.

The US are now a net exporter of oil, so the Saudis no longer see the US as a major market. So Saudi says they'll now accept payment in other currencies.