- cross-posted to:
- worldnews@lemmy.ml
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Japan, and Germany need to drop further. Would be nice if Russia, Indonesia and Brazil took their place.
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That's pretty likely to happen in the next few years. I expect BRICS economies to continue growing while G7 ones will keep shrinking. The underlying factors driving these trends are unlikely to change.
while i agree with this, which underlying factors would you say are you basing this on?
BRICS control most of the commodities and manufacturing at this point, and US dollar is becoming increasingly irrelevant in terms of trade. Energy markets are a particularly big aspect of all this given that aside from US, G7 nations don't have a reliable supply of energy of their own. This is a big part of why we're seeing recessions happening all over the western world. On the flip side, China is doing massive investment into developing countries helping them build out their infrastructure and raise the standard of living. This will result in a lot of economic growth down the road as western economies continue to contract.
Western economic model has been fundamentally built on the exploitation of the Global South. Now the former colonies are shaking off the west. What we're seeing happening in Africa is just a start of a bigger trend going forward, and that spells doom for current western regimes.
Not OP, but I think the BRICS+ are seeing continued development of productive forces (e.g. BRI; financing via the BRICS new development bank for industrial development [and not predatory credit issued for the purposes of lowering prices of export commodities thus stifling development]), while the G7 is unable to break free from neoliberal post-industrial services which have very limited real economic benefit, and in the case of Germany and presumably other west European countries, actively deinduatrializing.
I can't point to exact sources but this is Michael Hudson's bread and butter.
I wouldnt bet on brazil, not with this halfassed coalition neoliberal government.
we aint undoing bolsonaro's rampage that soon but things are actually looking decent for the long term if we don't fall to fascism again.
saw that on tv here in germany, was so funny to watch then pretend that this means our econemy is going well
ecEnemy kinda has a good ring to it friend, might need a bit more work but thanks for the idea
Without realizing that it's them tomorrow in that same headline
What was that conversation like? Did they just not say anything or make arguments?
"Germany has become the 3rd largest economy in the world."
What a joke. Germany has already been overtaken by Russia in PPP terms, just like China has already overtaken the US. Germany is entering the most catastrophic economic decline of its entire post WW2 history. And it's all either self-inflicted or directly caused by its own ostensible "allies".
But the Japanese stock market is at record highs, which really goes to show how accurately reflective of the economy the stock market is.
Yen. They don't dare talk about how the cheap yen is causing American companies and individuals to go on a buying spree because... Reasons.
lmao, even their logic is American
it's like when the frothing hordes of redditors try to blame India and China for global warming
