First of all, BRICS is already a bigger economic bloc than the G7. Second, BRICS is where majority of resources and manufacturing is happening, which means in real terms their economy is far more relevant to the world. Finally, the G7 is now fighting itself with the trade war the US started. The financial and military control the west had over the world started collapsing after the west started their proxy war with Russia, and the collapse is only accelerating now. The US will likely manage to carve up a sphere of influence for itself, but it's quite clear that they're overstretched already.