Brics - Economic co-operation group

BRICSTCNANSDBAKIMT just doesn't have the same ring to it.

Although, if you move the letters around, you can get "ANTI BBC CRANKS MIDST".

BRICSTCNANSDBAKIMT

Maybe in Russian it does lol.

Its basically a group of countries who don't want to be lectured by the Five Eyes. I think it's perfectly reasonable.

Wake me up when influencers are getting paid equivalent of $100k a week in rouble or renminbi to spread disinformation

You slept in.

This is a good assessment of the BRICS.

They can’t even cooperate on the most basic of things, China obviously is not prepared to risk its economy and be cut off from majority of its exports, neither is India and Turkey who want to make best of both worlds, but if ever put in a position of having to choose like China did it won’t go well for Russia and Iran

https://re-russia.net/review/765/

Russian financial market has reached a state of final abnormality! “Re-Russia” reports:

“The final macro-abnormality: by the end of the summer, American sanctions have cut off the Russian financial market not only from the dollar and the euro but also from the yuan.The idea of ​​the Russian authorities to use the yuan as a surrogate reserve currency instead of the dollar and the euro is collapsing under the influence of American sanctions. Having assured at the beginning of the summer that sanctions against the Moscow Currency Exchange would not change the actual state of affairs on the currency market, the Central Bank is now forced to admit that the Russian currency market is segmented and this circumstance affects macroeconomic conditions.

The restrictions imposed this summer on the Moscow Exchange made the yuan circulating there toxic for most foreign banks, including Chinese ones. Russia has an “internal” yuan, which can be used, for example, to hedge currency risks (because the Central Bank recognizes it), but it is almost useless for foreign economic transactions.

Demand for the "domestic" yuan at trades has slumped, and its exchange rate to the dollar and euro differs from the international one.Meanwhile, the interbank market is experiencing an acute crisis of yuan liquidity. Rates on overnight yuan loans first became double-digit, and then triple-digit. The deficit is structural in nature and is unlikely to be overcome in the near future, market participants warn. In general, there are enough yuan in the financial system, but liquidity is concentrated among large players, and those market participants who do not receive currency from exporters will not have enough of it.

Thus, the Russian financial market has reached a state of final abnormality. The solutions found, such as sending payments to China through intermediaries or using cryptocurrencies, are only temporary crutches that are unable to replace market institutions and procedures that increase costs and create imbalances that are fraught with new problems in the future.”

Bunch of countries about to find out why letting China dump on your markets like they done to US and Europe is a recipe for a disaster that will boomerang back onto their economies

New applications to join the group of emerging countries include Cuba and Turkey, as well as several Southeast Asian nations.

Is there an international organisation that Turkey won't join? The FOMO is strong with them.

https://en.wikipedia.org/wiki/Turkey%27s_membership_of_international_organizations

I won't start sh1tting brics just yet.

I doubt it. These countries have nothing in common. Not economically, politically, geographically or demographically. There is no incentive for them to co-operate.

The term "BRICS" was only used to refer to up-and-coming economies in the early 2000s. Brazil and India made marginal gains since that time. Russia and South Africa are regressing economically. Only China has really grown and become a mostly first-world country.

I think part of the point is that they dont intend to lecture each other, its just an organisation to assist trade and development. If I remember correctly one element is that they arent supposed to sanction other members.

On the subject of Brics and China.

In a few months time we will have a general election.

For anyone thinking of voting for Clare Daly just please be aware that Clare is very much pro china ; pro brics and pro replacing the dollar as a world reserve currency.

She said so herself in a video where she praised 75 years of rule of the chinese communist party; just so people in her electoral area are aware of who and what Clare really is.

She looks like she just saw Mick Wallace pick his nose.

not just China, India is a dark horse here too , not that one country supplants the US by itself but the collective energy of the others shift the centre of gravity. It only took a 100 years or so for the british to peak and crack, now it looks like the US wont be able to project power like it used to within a generation meanwhile Europe ie us are in a downward curve too.

Some of the dissident groups in Pakistan might take a different view as just this week there was another targeted attack on chinese workers there in a line of attacks over the past year.

One of the issues I take with Clare and people like her is constant double standards for example Clare will constantly Critize the US and condemn Israel in the ongoing current conflict over the last year.

However Clare does not dare Condemn Russia,s action in the Ukraine in the same way she condemns Israel.

In that video Clare appeared in celebrating 75 years of the chinese communist party Clare omitted quite a bit.

Clare omitted the massacre in tiananmen square in 1989.

Clare omitted the Imprisonment of dissidents into re education camps.

Clare omitted forced organ harvesting of political prisoners.

Clare omits and fails to condemn the ongoing issue of organized snuff animal torture videos on chinese social media over the last year or two.

Because no laws exist in china to prevent such snuff torture when a society lacks such laws and no person faces any sort of punishment one can draw conclusions that it is an uncivilized society.

In short Clare Daly and people with her worldview America = bad and evil vs this view they seem to hold Russia China and others can never do any wrong; I draw that conclusion from her for what she omits and fails to condemn.

Here and the longer term I have a deep distrust of the ccp and their long end goals; while I do have my own critisms on US foreign policy in the overall end Id take a US led order over a chinese ccp led order any day .

Speaking of Pakistan

https://propakistani.pk/2024/10/02/pakistan-signs-first-ever-barter-trade-deal-with-russia/

bartering with mandarins and chickpeas

Perhaps the anti dollar pro bricks brigade who would themselves NOT accept their own salary/pensions in any of the BRICKS currencies explain why none of the BRICKS currencies were used here?

The dream if BRICS, to become the next Vegas. And if a failed state like Cuba cN become a Vegas then what could other countries do? Wasn’t one of the reasons for the “paradise” revolution was that Havana was basically a Vegas for the rich.