Recently, the G7 held its annual meeting in Italy. In the past, this gathering got a lot of media attention. Recently, it hasn't, and this year was no exception. After all, the only leader of the group who is certain to be at next year's event is Italy's Giorgia Meloni. As a result, some have called the meeting "Meloni & the 6 Lame Ducks." This relative weakness from the developed, western world's leaders comes at an inopportune time. The Global South, led by China, is increasingly flexing its geopolitical strength, which could bode poorly for the existing world order. What does this mean for the US and the West's existing world order? Could it suffer due to the current lack of leadership?

In this week's Trading Perspectives, Sam Clement and John Norris discuss the recent G7 Summit, the West's current relative weakness and the Global South's rising importance.