BRICS Thread

[Rainy]

 

[Thomas More]

This chart uses nominal GDP instead of Purchasing Price Parity (PPP). However, PPP is a more realistic measure, and BRICS is already ahead by PPP. Also, the Western economies are heavily based on "financial products" such as insurance, banking, and real estate speculation. The BRICS economies are much more based on things like oil, mining, agricultural goods, and industrial production. The Western economies are giant empty financial bubbles, while the BRICS economies produce far more real goods.

 

[Samseau]

GDP is meaningless. For example the USA is growing at huge GDP in 2023 because of the hundreds of billions dumped in Ukraine via printed money.

GDP is only important to bankers who collect the loans made by bankrupt governments. Otherwise it's a stat that measures profligacy. In this sense, BRICS use their money more efficiently and are therefore in a stronger position.

 

[Cynllo]

The increase in the yuan's use in global payments to 3.6% in October — from 1.9% in January — could be the starting point of the most serious challenge yet to the greenback's dominance in international commerce.

Bloomberg: https://archive.is/HIGDv

 

[tractor]

I think this news fits in this thread. Not a coordinated BRICS effort but definitely BRICS in spirit, so to speak.

Russia has a benefit of being cancelled everywhere in the West, so she can basically subvert the „rules-based“ order as she pleases without any consequences. All consequences the collective West had at its disposal were pretty much exhausted by the spring 2022.

https://tass.com/economy/1725683

22 DEC, 21:11

Russia to be able to grant loans to other countries without considering their ratings​

According to the resolution of the Cabinet of Ministers, Russia will not follow the recommendations of international institutions when providing loans to other countries

MOSCOW, December 22. /TASS/. Russia relaxes requirements to a credit rating of countries that can apply for loans from it, the Russian government said in the approved decree.
Amendments are made in rules of lending by Russia to foreign countries. To receive a loan from Moscow, foreign countries were not to be categorized as assigned to the sixth and lower credit risk groups of OECD. Loans were not extended also to countries with the long-term creditworthiness rating below the level of B-from Fitch or Standard & Poor’s or below the level of B3 from Moody’s.
Russia will not also follow recommendations of international institutions when extending loans to other countries, according to the Cabinet decree.

 

[Rainy]

 

[TruckDriver9]

It's a feel good story, but won't change much in the scheme of things - Serbia is a landlocked country, all of its trade has to go through neighbouring states (all of which are either NATO members, or puppets). And as such, Serbia can be choked if it steps out of line.

 

[Cooper]

The border with Hungary might provide them with some relief, especially if Slovakia is also not in lockstep with NATO.

 

[Rainy]

Can you imagine.

 

[пуд]

The B, R and C, I get it. But South Africa is a failed state. And the I?

India's Top Physicists Develop Plan To Get The Hell Out Of India

The team spent a majority of the past three years developing the top-secret plan, dubbed the Manhattan Or Maybe London Project, overlooking no details.

 

[TruckDriver9]

The B, R and C, I get it. But South Africa is a failed state. And the I?

India's Top Physicists Develop Plan To Get The Hell Out Of India

South Africa is natural resources rich - from coal and iron, through gold, platinum all the way to rare earth elements.
And the value of India - world's largest consumer market with a robust manufacturing base starving for natural resources should be obvious.

 

[Cooper]

India is a distant 3rd in terms of largest consumer markets, behind the US and China. They did however pass Japan and Germany recently to get to 3rd place.

 

[TruckDriver9]

India is a distant 3rd in terms of largest consumer markets, behind the US and China. They did however pass Japan and Germany recently to get to 3rd place.

Meant by the population size not by spending - should have been more precise.

 

[Thomas More]

Meant by the population size not by spending - should have been more precise.

India has the number three GDP by PPP, which I think is the most relevant.

List of countries by GDP (PPP) - Wikipedia

en.wikipedia.org

Their per capita is much lower than China's, and China's in turn is much lower than Russia's, but numbers make a difference. There are so many Indians that the nation has a huge national economy on the global scene. It's fully half the size of the US market, and in turn they are twice as big as #4.

 

[Cooper]

China has the biggest middle class in the world, about 600-700 million strong, and is still growing. The US is next though India will likely catch up in 10-20 years if only a small fraction of its population .

China is the largest market for cars, computers and cellphones but overall its middle class market is pretty close to the US in nominal dollar terms.