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#BRICS countries have officially overtaken #G7 in share of world PPP GDP, and that this trend can be expected to continue.
A thread 🧵
A thread 🧵
2/
who currently makes up:
BRICS:
- Brazil, Russia, India, China and South Africa
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G7:
- Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States
who currently makes up:
BRICS:
- Brazil, Russia, India, China and South Africa
<><><><><>
G7:
- Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States
3/
Russia and China have stated they seek “changes that have not occurred for hundreds of years”
What does that mean? Likely a new global currency that challenges the USD - something not seen since the United States was crowed global reserve currency status post WW2
Russia and China have stated they seek “changes that have not occurred for hundreds of years”
What does that mean? Likely a new global currency that challenges the USD - something not seen since the United States was crowed global reserve currency status post WW2
4/
BRICS countries are following suit. Take Saudi Arabia - considering settling all oil trades in Chinese #Yaun. A major shakeup in global macroeconomics
wsj.com/articles/saudi…
BRICS countries are following suit. Take Saudi Arabia - considering settling all oil trades in Chinese #Yaun. A major shakeup in global macroeconomics
wsj.com/articles/saudi…
5/
But BRICS aren’t settling with just 5 members - they are actively looking to expand. Shockingly, #Mexico is considering joining BRICS. Mexico has stated they have “having serious doubts about the US ability to trade on fair and equal terms.”
silkroadbriefing.com/news/2023/03/2…
But BRICS aren’t settling with just 5 members - they are actively looking to expand. Shockingly, #Mexico is considering joining BRICS. Mexico has stated they have “having serious doubts about the US ability to trade on fair and equal terms.”
silkroadbriefing.com/news/2023/03/2…
6/
Here are other counties proposed to join BRICS:
Here are other counties proposed to join BRICS:
7/
Are we seeing before our eyes a paradigm shift in power?
What implications will this have for the USD?
What does this mean for the relationship between USA and Mexico? How will the USA respond to Mexico possibly joining BRICS?
~end
Are we seeing before our eyes a paradigm shift in power?
What implications will this have for the USD?
What does this mean for the relationship between USA and Mexico? How will the USA respond to Mexico possibly joining BRICS?
~end
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