The five core BRICS nations – Brazil, Russia, India, China and South Africa – already surpass the G7 regarding countries’ share of global GDP at purchasing power parity. More than 100 million people from Asia, Africa and Latin America enter the middle class every year, while global hubs of technological innovation are equally shifting towards Asia. World trade routes are being redrawn: whereas trade between the US and China, and the EU and Russia is projected to decrease by 2032, commerce is set to grow strongly between other blocs, particularly China and ASEAN, the EU and the US, and the US and Mexico.

While the G7 countries comprise around 50% of nominal net wealth, their population of 780 million only represents less than 10% of the world population. In the coming decades, Europe, as well as parts of Latin America and Asia – China above all – will experience demographic ageing and shrinking, whereas Africa’s population will more than double throughout the 21^st century.

At the same time, Western-inspired international institutions and security regimes face growing pressure to reflect such shifts in power. Emerging new alliances – such as BRICS+ and the Shanghai Cooperation Organization – increasingly act as counterweights. The historical spread of democratic governance systems is increasingly reversed, including within “Western” societies.

Such developments are, naturally, viewed differently across the globe. While some focus on perceived threats or opportunities associated with the rise of emerging powers, others are hoping that a new era of civilisational diversity may emerge. What is certain: the shifting balance of power has intensified the uncertainty and volatility of the geopolitical environment. International conflicts have increased, from the war in Ukraine to escalating military tensions in the Middle East and Sudan. High inflation, price volatility and disrupted supply chains are direct consequences of these developments, straining both businesses and societies. With a crucial election this November in the US, the potential for further disruptions is substantial.

The St. Gallen Agenda towards May 2025

As the world’s leading platform for cross-generational dialogue, the St. Gallen Symposium recognises these developments as one of the fundamental forces reshaping the world young and future generations will inherit. Our global community of senior and emerging business leaders, policy makers, researchers and civil society advocates will be engaged in a year-round journey of dialogue and learning, culminating in the 54^th St. Gallen Symposium in May 2025. Throughout the process, we will identify the key dimensions and drivers of current shifts in global power, help our partners grow their geopolitical muscle, and explore actionable strategies across five key issue areas: 

Business and Economics: Businesseshave to place geopolitics increasingly on top of their agendas. High inflation, price volatility and disrupted supply chains are direct consequences of a more volatile international environment. At the same time, the emergence of new economic strongholds and expanding global middle classes present significant opportunities. We examine strategies for businesses to navigate these changes and will dive deep into selected regional economies.

Innovation and Technology: The ability to exploit new technologies and foster a climate of innovation is a significant source of competitiveness and power for nations and businesses. Technologies are also increasingly weaponised, posing significant cybersecurity risks. We will explore how technologies will reconfigure economic and political power and how to ensure their responsible deployment in light of competitive, global dynamics.

Governance and Cooperation: While democratic systems of governance are increasingly under pressure, multilateral institutions equally need significant reform in light of a shifting global power balance. This is all the more relevant as the list of pressing shared challenges only continues to grow. We will discuss the challenges and opportunities in reforming domestic and global governance to ensure it remains relevant and effective in a changing world.

Security and Peace: Never before have there been so many armed conflicts across the globe as in 2023, when the number of conflicts involving states totalled 59. Global armament and military expenditures are rising across the globe. Going forward, many expect that a more volatile, multipolar order may turn more frozen conflicts into heated confrontations. The 54^th St. Gallen Symposium will provide a comprehensive insight into shifting security dynamics and alliances – and seeks to promote dialogue in a fragile world.

Sustainability and Transformation: Whereas the West is responsible for a large part of historic CO2 emissions, the BRICS now account for 45% of annual emissions (vs. 26% from the G7, incl. the EU). This underlines the importance of global cooperation for sustainability. As cheap, renewable energy is available at an unprecedented scale, we will explore ways to drive capital and political efforts towards global climate action, and examine the transitions under way across emerging economies.