Liberal Forum

BRICS countries, Brazil, Russia, India, China, and South Africa, have surpassed the Group of Seven (G7) in terms of Gross Domestic Product (GDP) based on Purchasing Power Parity (PPP), data published by the UK-based economic research firm Acorn Macro Consulting shows, reports CounterCurrents.The G7 club of industrialized countries consists of the U.S., Canada, the UK, France, Italy, Germany, and Japan.The BRICS group comprises 41% of the global population and accounts for 16% of the world’s trade.

BRICS Will Contribute 50% by 2030 As the West Destroys Its Wealth

According to the British Consultancy, the five BRICS nations now contribute nearly 31.5% of the global GDP, compared to 30.7% by G7 countries.  By 2030, the BRICS nations are expected to account for over 50% of global GDP, potentially rising further as the bloc expands.The West is on target to destroy its energy sector and capitalism.The IMF foresees negative growth for the UK. At the same time, the U.S. is expected to be the best-performing G7 economy. The growth forecast will be under 2%, far below what we experienced under Donald Trump.The BRICS’ economies of India and China are expected to drive global growth this year, estimated to grow from five to seven percent.Russia’s Fine, The West Is Buckling Under the SanctionsRussia’s economic growth is expected to reach 2.1% in 2024.Remember when Biden thought he was going to collapse the Russian economy? Bill O’Reilly kept calling Russia a tiny, insignificant nation that won’t be able to sustain itself under the sanctions. The only countries suffering from sanctions are the countries of the West.

BRICS countries rejected the US-led Western sanctions against the Russian Federation. They’re also evading the sanctions by trading in currencies other than the dollar, which devalues the dollar.We did that.Recent additions to the BRICS New Development Bank, such as Bangladesh, Egypt, and the UAE, demonstrate the growth trajectory of the bloc.Furthermore, Mexico was long part of the North American free trade bloc NAFTA. Now they are poised to join BRICS.Mexico joining is an insult to the US.

Bloomberg Prediction

A recent Bloomberg report predicts a significant shift in global economic power, as BRICS nations are on track to surpass the G7 countries in economic growth.By 2028, the collective GDP of the BRICS countries. is expected to reach nearly 35%. It will be driven by China’s anticipated position as the top source of world growth over the next five years. That is according to the International Monetary Fund (IMF).China is projected to contribute 22.6% to global GDP growth through 2028, followed closely by India at 12.9%. In contrast, the United States is expected to contribute only 11.3%.With 75% of global growth expected to be concentrated in just 20 countries, the top four contributors, including China and India, will account for half of the growth.The G7 nations represent a smaller share, with Germany, Japan, and the UK as the top 10 contributors.The US made China rich and the US is no longer the big boy on the block.As the BRICS nations gain more influence on the global stage, they are likely to push for reforms within international institutions. Maoists will be even more entrenched in institutions like the United Nations, World Bank, International Monetary Fund (IMF), World Trade Organization (WTO), and World Health Organization (WHO).

https://www.independentsentinel.com/bad ... g7-in-gdp/

 
 

The Hindu Business Line
https://www.thehindubusinessline.com › ...

BRICS trim their US Treasury holdings
Apr 23, 2022 — BRICS (Brazil, Russia, India, China and South Africa) countries have been reducing their exposure to the US Treasuries over the last six months
 

China Daily - Global Edition
global.chinadaily.com.cn

Why nations are reducing US bond assets - Chinadaily.com.cn
Jul 21, 2022 — The third reason is the countries' efforts to diversify from dollar assets. Israel is one such example of a country reducing US Treasury bond
 

ALL ON BIDEN WATCH...
Add to this story....Saudis and Mexico have applied. Most Middle East countries have applied.
Yikes, couple that with peace breaking out all over the ME. Massive de-dollarization across the globe as WASH DC cant be trusted.
Russian sanctions failing badly.
Each day...here is WASH DC:

I believe nominal GDP is what counts not PPP.

I might be wrong but I rarely am and even when I am I refuse to admit it

Warcok » 21 Apr 2023, 10:22 am » wrote: ↑

21 Apr 2023, 10:22 am

I believe nominal GDP is what counts not PPP.

I might be wrong but I rarely am and even when I am I refuse to admit it

GDP is a number created by the swamp in order to inflate The West's economic numbers post-hollowed-out-industrialization.
GDP is inflated by money printing, socialism to failed banks and brokers aka money laundering Capitalism.

PPP is where the rubber meets the road.  Real numbers, real economy. 
Its why Russian sanctions have been a complete failure.  WASH DC rarely does anything right. Their best game is lying and deception.