Is a new world economic order emerging? | Counting the Cost
Is a new world economic order emerging? | Counting the Cost
Economic integration and globalisation, the free flow of trade, with the United States at the helm: that is the economic order the world has known for decades.
Today, the disintegration of the rules-based old world order is evident.
Countries are becoming more inward-looking, regulatory fences have been erected, the World Trade Organization…
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what a name โ rules based world order โ meaning slavery of the rest of the world by the West !!
Circular economy ISO59020:2024
I donโt understand. USA market is filled with Chinese products!!!. Iโm so dumb or what?. Now what is the difference on China as a nation with his people, vs USA nation with his people?. How they live, are they free?. Can people make money?. Can express their opinion?, l ask this not only on those two nations but on Iran, India, Africa, Mexico, etc.. we know what to expect in the future this new world orderโฆ.
Pre Determined Demand Supply Cycle @ Mind Issue
A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge my portfolio against inflation, Inflation is a money-eater so i'm worried about my savings around $200k
China is making friends while Uncle Sam is making threats and poking ppl in the eye.
Lol this person from Singapore who said we should be more anxious about leaving the old order are like same people who said COVID vaccine is unsafe and will cause it. Lmao
America knows its losing its being neutral lmao. So do you think if a criminal suddenly becomes neutral we forget the crimes? . Well bye bye America from world economic.
Call Abhijit Banerjee sir
More power to world!
There appears to be a new global economic order in offing. But there are trust deficits amongst member nations. Contious geo-politic tensions and geo fragmentation as well as a gradual return from globalisation as it is evinced in reality, may thwart the pious intention of establishing a new global economic order. Mutual trust,respecting each others territorial sovereignity and arriving at a common agenda intended to help our the weaker nations may fill on the trust deficit.After all some reform and an institutional framework for continuing reform,supportive of universal growth may be a more pragmatic approach
That insecure guy who called for a second cold war ๐๐ brics against West ๐
World Trade Organization did not offer fairness, has exploited countries that did not want to comply or conform to the rules that were set by none other than the Western coalition, and has been nothing but a tenticle of the western uni-polar world. It has been a tool to establish dollar as the trading currency for production of goods and provision of services. In other words green dollar pieces of paper (which cost nothing) have been exchanged for tangible, physical goods and actual services – for literally nothing in return. That is called theft. USA is 35+ trillion dollars in debt and cannot pay it back, yet there is no recession, there is no economic depression, they are giving billions away to fund wars – WHY??? Because the dollar is backed by all the hard working people around the world and Americans are getting a free ride for nothing. That doesn't sound ok at all.
God! Get rid of that awful background music in the beginning
Brics+towards a multipolar world ๐
The evils of free trade, Neoliberalism and tax havens thar have caused large scale destruction. The backlash was inevitable
England gets all the gold….. who is the real dominator.??? England got Libyas Gold, Venezuelas Gold, Argentinas Gold. Sneaky , malevolent England strikes again.
China , Russia, Brazil and India needs to develop new markets . Huge opportunity in development of South America totally undeveloped with huge mineral resources which is open for development. Also geographically it is close to each other .
#๐ $olution to
Keeping Dolore$:
Replace picture of
George Washington to:
Nelson Mandela.
& Write @ the top:
In BRICS we trust.
%100% will work.
๐ ๐๐จ๐ณ๐ ๐
๐ Thanks ๐
๐ โธ โฏ โธ ๐
๐ Marxism๐
Confucianism
Meritโฏcracy
๐๐๐จ๐ณ๐๐
Wish ๐งi Was
Chinese.
๐
๐…………๐
:The EnD of :
Westerners
Kafkaesque
Orwellian ๐ค
Nepotism of
Monozygotic
Vanitized
Greedy &
Jealous Ponzi
Parasitic
Inquisitors
Ex-Colonizers.
โ๏ธ๐โ ๏ธ๐โ๏ธ.
Global economical prosperity should be available for all willing to participate, the primary player's thru finicial leverage and established infrastructures will endeavor to exploit secondary players without an established provisional common doctrine of ethical business practice and conduct to be adhered to in the import,export global arena. An impartial international committee to be established by representatives of the participating countries to monitor appropriate trade practices and prearranged agreements in retaining parameters of appropriate transactional conduct. โคโคโคโคโค
14:50
The guy who represented London was so biased and arrogant as someone from the developed or the rich nation ๐ You can easily tell that from his tone when he talked about Global South and BRICS.
Dear people from India…the wheel is the first solution…and it is just a first generation!
Approximately half a million US dollars in alternative energy by using real horses…walking 6 hours per day inside a patented multiplication wheel. Introducing Mini-Hydroelectrics via Vertical Water Displacement Maximo Gomez Nacer, IV. Zoo- Mechanics, Inc
BRICKS rule…1g of gold equals 1 barrel of oil…therefore gold can be "divided" into smaller units of liters of oil… INTRODUCING VW-D… Vertical Water Displacement Solutions…one real Horsepower equals 5869.2 megawatts per year (working 6 hours a day inside my multiplication patent)…Q: How do you store that energy?… A: Vertical Water Displacement by Dr. Maximo Gomez Nacer, IV
So will there be a world leader who emerges to constitutionally bonify, govern/superintend this Global N.W.O. when it comes to fruition? I mean the question was asked, "who brings about this global reform?" Perhaps I have it all wrong but it seems to me that with the political climate the way it is in these times we now find ourselves in that people are looking with great eagerness & expectations for such a leader.
Printing dollars, purchasing assets worldwide, and inflating other economies.
NO! THE NEW WORLD ECONOMIC ORDER HAS ALREADY BEEN DESINTEGRATED.
NOW WE ARE IN A NEW ERA, THE GOLDEN ERA, IN WHICH FINALLY HUMANITY THRIVES.
Even those BRICS guys have hidden agendas. Better the devil you know than the angel you do not. Its all vanity, they come in the name of cooperation but my dear, behind that is something only them know
China will collapse. USA is way too strong especially due to tech
Someone has to present ๐ฆ it and the world ๐บ has to accept it. Until than its hypothetical and imaginary! ๐ต To dethrone America ๐บ๐ธ US dollar ๐ต needs to be replaced by another currency ๐ฑ. Impossible ๐
Biblical no.of man is 6 means superior .One world government One world economy One world religion ,If controlled by one man. He was the Anti Christ.
Well, we have calculated, and then what should we do with this information?I'm going to the kitchen to drink tea, thanks for your attention)
It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007โ2008. To prevent another disaster, Dodd-Frank and this statute both need to be re-established right away. What happened with SVB is only the beginning of what will happen if nothing is done to address the current situation.
Cashless society is coming
Xi jung xing ping jing jung ping pong.
Before the new world order reset,there will be a DIVINE RESET very soon. BRICS currencies will be worthless like toilet paper.
There is an equal market chance associated with each crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.
An Expanding BRICS Seeks to Reform Not Replace the Global Order
Member nations are unhappy with the systemic bias against the Global South and want to reform the current order such that mutually agreed upon norms are applied equally to all nations.
By Muqtedar Khan and Lucas Lima
July 16, 2024
An Expanding BRICS Seeks to Reform Not Replace the Global Order
(From left) President of Brazil Lula da Silva, President of China Xi Jinping, President of South Africa Cyril Ramaphosa, Prime Minister of India Narendra Modi and Foreign Minister of Russia Sergey Lavrov, in a family photograph during the BRICS Leaders Retreat Meeting, at Johannesburg, in South Africa on August 22, 2023.
Credit: Wikipedia/Prime Ministerโs Office, PIB, India
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BRICS began as an excellent investment opportunity since it comprised some of the worldโs fastest growing economies โ Brazil, Russia, India, China and South Africa. They belonged to four continents and the fact that all of them were non-Western economies gave them a geopolitical identity as the leading lights of the developing world.
Even after its expansion in January 2024 with the addition of Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Iran (Argentina expressed initial interest in joining but subsequently opted to withdraw), the core purpose of what BRICS seeks to achieve lacks clarity.
BRICSโ statements critical of the governance of multilateral institutions and groupings like G-7 and the UNSC P-5 indicated that the grouping was seeking changes in global governance. With the establishment of the BRICS bank, New Development Bank, it appeared that these rising powers from the Global South were perhaps seeking to create an alternate global order.
A joint statement of the BRICS Ministers of Foreign Affairs/International Relations issued in Nizhny Novgorod, Russia on June 10, 2024, offers more substantial insights into BRICSโ vision not for an alternate but a reformed global order. The 54 carefully articulated points address issues ranging from international security, sustainability and climate change, human rights, the conflicts in the Middle East and Ukraine, and the position of Africa in the world, among many others. The joint declaration constitutes, so far, the clearest statement produced by BRICS showcasing their shared vision and worldview beyond economic cooperation. We now have a much better idea of what BRICS wants.
However, there seems to be a fil rouge running through the language of the joint statement: a persistent exceptionalism toward developing countries and the need to consider the structural inequalities of the global order in the BRICSโ perception of the world. This idea is clearly manifest in the proposal of โa more agile, effective, efficient, responsive, representative, legitimate, democratic and accountable international and multilateral system,โ which is supposed to lead to a โgreater and more meaningful participation of developing and least developed countries, especially in Africa, in global decision-making processes and structures, and making them better attuned to contemporary realitiesโ (point 4 of the statement).
BRICS nations are united in their perception that despite changing geoeconomic and geopolitical realities their voices remain marginalized and real power in multilateral institutions is in the hands of the Global North. Today in purchasing power terms BRICS has a greater share of the global GDP (32 percent) than the G-7 nations (31 percent). The balance of economic power is moving away from the Trans-Atlantic to the Indo-Pacific region.
However, the power over institutions of global governance remains centralized in the Global North. This ensures that rules that govern the global economy are skewed in favor of the north at the expense of the Global South.
BRICS appear to be committed to a multilateral order in which institutions play a central role in the decision-making process. The statement rejected unilateralism and unilateral actions as outside the UN Charter and in breach of international law (point 15). The statement blamed unilateral sanctions for having a negative effect on trade, health, energy supplies and food security of the developing world.
The legality of unilateral sanctions by a state or a group of states without U.N. authorization is a contested issue. The joint declaration of the BRICS ministers opens the door to brand sanctions by the United States, the European Union and allies as incompatible with international law. The joint declaration in the same vein also condemned unilateral, punitive and discriminatory protectionist measures that disrupt the global supply chains and distort competition (point 16).
The key to the success of the BRICS is the rapid decline of the current global order. As the system and its rules are challenged by wars, pandemics and economic shifts, the system becomes unstable and allows emerging powers to act independently of the will of dominant powers and enables change. We are currently witnessing two wars, one in Europe and another in the Middle East, and both are directly challenging the U.S.-led order. Leading members of BRICS are directly or indirectly helping the challengers. India and China are shoring up the Russian economy by circumventing the NATO-imposed anti-Russia sanctions. And China with its diplomatic outreach to Hamas and South Africa with its legal actions against Israel are working hard not only to upset the status quo but also to enforce the rules of the rule-based order in such a way that for once it helps the Global South.
But the joint statement on these two wars (see points 32-35) is a hodge-podge of standing for principle while also making compromises in the interests of member countries. It may also be an attempt to gloss over the fact that BRICS members do not have a unified stance on the Russia-Ukraine war. But the comprehensive statement on the Israel-Hamas war, while clarifying the BRICS unity on the issue, also highlights the absence of consensus on the Russia-Ukraine war.
BRICS have taken what can be described as a copybook Global South perspective on Palestine. They criticize Israelโs conduct of the war, call for a Palestinian state, support the two-state solution and support the measures taken by the International Court of Justice. Indeed, the longest statement in the entire declaration is on the Palestine issue. But on the Ukraine issue, one can sense a double standard as they make a rather vague reference to the national positions taken by members in other international fora. But they do not refer to the judicial proceedings before the World Court concerning Russia or the International Criminal Courtโs investigations on Russian nationals. However, they do appreciate proposals for peace and mediation like the joint proposal by Brazil and China.
Our reading of the statement suggests that BRICS are unhappy with the systemic bias against the Global South in the current global order, but we also sense that they are not seeking to establish an alternate order but strengthen and reform the current one such that mutually agreed upon norms are applied equally and justly to all nations. An example of this posture can be seen in the statement about the G-20 forum (see points 6 and 7). All the founding members of the BRIC nations are part of G-20 and now even the African Union. It allows nations of the Global South to set the agenda and the fact that it has in recent years been led by Indonesia (2022), India (2023), Brazil (2024), and South Africa (2025) makes it more appealing to BRICS. Unlike the UN Security Council and IMF where power is unevenly distributed, at the G-20, decision-making is based on equality and consensus building.
We believe that the BRICS forum promises a new multipolar world order where the Global South truly matters. It seeks to achieve that goal through reform not replacement of the existing order. Forums such as G-20 can be the vehicle for the reforms that BRICS seek. But there are internal conflicts such as those between India and China and Saudi Arabia and Iran and to a lesser extent Egypt and Ethiopia, which reduces the forumโs ability to act more decisively. BRICS will have to either limit its membership to nations that are not hostile to each other or develop a robust internal system of conflict resolution. But the fact that BRICS has emerged and is being taken seriously clearly indicates that there is a need and an active demand for change and for the moment there is no better hope than BRICS to bring about that change.
In 2months time inflation is gonna start hitting US hard based on my Analysis.
The US money is backed by nothing is Fiat money worthless pieces of paper