from Azerbaycan 24:
The hive mind, with access to political ears and mainstream media pages, claimed that Russia’s economy was smaller than that of Italy, based on GDP. Reality paints a very different picture. By Kirill Strelnikov RIA NovostiFrom left to right, China’s President Xi Jinping, Russia’s President Vladimir Putin, Brazil’s President Jair Bolsonaro, India’s Prime Minister Narendra Modi and South Africa’s President Cyril Ramaphosa pose for the family photo of leaders of the BRICS. © AP Photo /Eraldo Peres
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As is often the case in the Western media, the most embarrassing facts are only covered when they can no longer be hidden, but even then unpleasant admissions are made with numerous caveats and excuses.
This week, the International Monetary Fund published a report, which drew the long overdue conclusion that the economic hegemony of the leading Western countries, represented by the G7, is shrinking as the BRICS (Brazil, Russia, India, China and South Africa) surge.
Its conclusions were, of course, ‘polished’ by all the leading Western media outlets, but one thing became clear: Any triumphant Western predictions about the BRICS in general, and Russia in particular, can be safely tossed into the rubbish bin.
In 2007, Western experts published a reassuring report stating that the total contribution of the BRICS to the world economy would not be comparable to that of the G7 until 2032.
But once again Western economic projections have failed, and the fact is that the BRICS countries caught up with the G7 in terms of their contribution to world economic growth as early as 2020, and at the moment the figures, even creatively manipulated by pundits, stubbornly show that by 2028 the BRICS will account for at least 35% (some sources say as much as 40%) of world GDP (compared with 27.8% for the G7).
Western analysts, who are in fact echoing the wishes of the global deep state, have fallen into a similar trap in their assessment of Russia’s prospects and impact on the global economy. As we recall, since the beginning of last year, more sanctions have been imposed on Russia than on any other country in history, and the main talking heads in the West have reported with anticipation that the Russian economy will soon be reduced to dust.
Such was their confidence (after all, a petrol station with matryoshka dolls couldn’t possibly stand up to the combined economic might of the enlightened West) that analysts didn’t even bother with figures. The prediction was simple: Russia would be quickly and irrevocably destroyed – first its economy and then its social cohesion.
A common trope for a number of years has been a comparison between the economies of Russia and Italy, with spurious claims that the economy of the world’s largest country is no bigger than that of the home of pizza and pasta, all based on simplistic measurements which fail to take into account currency differences, and overvalue the debt-fueled services sector.
