Countries like Malaysia and Thailand are flocking to join BRICS as a potential ‘counterweight against U.S. economic hegemony’
Countries like Malaysia and Thailand are flocking to join BRICS as a potential ‘counterweight against U.S. economic hegemony’
Analysts say countries like Malaysia and Thailand may want to hedge in a more polarized world and get better access to China and India.
Jim O’Neill, former chief economist at Goldman Sachs, in 2001 argued that Brazil, Russia, India, and China would be the key drivers of global economic growth, coining the term “BRIC.”
China and India might. Brazil is considerably smaller and going to just pull less weight, unless something changes. Russia is heading in the wrong direction in 2024.
Trying to please the old and the new Lord simultaneously and probably getting pushed by both
I don't know anything about economics but this is an interesting and recent Chapo podcast on the topic: https://youtu.be/rq5vxvS615Y
Iirc they say putting an embargo on countries will cause a cascade with all banks that use USD. They extend this to suggest that the US has sanctioned a third of the planet overall.
Going to do what I do every time an intriguing video or podcast episode is recommended to me that's an hour long : save this comment, remind myself to listen to it once later, than forget. But maybe writing this comment will actually push me to listen to it this time lol.
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