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While the Western nations de-industrialize and convert to so-called "green energy", the [[Global South]], led by the BRICS+ nations will continue to grow using traditional [[coal]] and [[fossil fuel]]s. De-industrialization and so-called "alternative energy sources" in [[the West]] has a negative impact on [[inflation]], [[food]] and energy prices, and living standards. However living standards in the Global South and BRICS+ nations are expected to continue rising.
While the Western nations de-industrialize and convert to so-called "green energy", the [[Global South]], led by the BRICS+ nations will continue to grow using traditional [[coal]] and [[fossil fuel]]s. De-industrialization and so-called "alternative energy sources" in [[the West]] has a negative impact on [[inflation]], [[food]] and energy prices, and living standards. However living standards in the Global South and BRICS+ nations are expected to continue rising.
In 2022 BRICS outpaced the [[G7]] in total GDP output. In total, the BRICS grouping as it currently stands accounts for over 40% of the global population and nearly a quarter of the world's [[GDP]]. The GDP figure is expected to double to 50% of global GDP by 2030.{{Fact}}
In 2022 BRICS outpaced the [[G7]] in total GDP output. In total, the BRICS grouping as it currently stands accounts for over 40% of the global population and nearly a quarter of the world's [[GDP]]. The GDP figure is expected to double to 50% of global GDP by 2030.<ref>https://economicsinsider.com/g7-vs-brics-gdp-comparison/</ref>
==Origins==
==Origins==
{{See also|Russian sanctions}}
{{See also|Russian sanctions}}
The United States responded to the Russian intervention in [[Ukraine]] by using its control over the international banking system to slap sanctions on [[Moscow]]’s financial assets around the world, including freezing billions of dollars in banks in [[New York]]. By one estimate, $1 trillion in Russian assets were frozen and Russian banks were also denied access to the [[SWIFT]] global messaging service that connects financial institutions and facilitates rapid and secure payments.<ref>[https://www.cnn.com/2022/03/01/business/russia-economy-sanctions/index.html# The West’s $1 trillion bid to collapse Russia’s economy], Analysis by Charles Riley, [[CNN]] Business, March 1, 2022.</ref> [[Washington, D.C.|Washington]] subsequently announced that the frozen money would not be returned and would be instead used for Ukraine's reconstruction. That set off warning lights all around the world, though there had already been similar behavior on the part of the US in relation to Iranian and [[Venezuela]]n assets. There is particular resentment throughout much of the developing world of US attempts to use primary and secondary sanctions to coerce countries that are disinclined to do so into supporting the [[NATO]] war effort in Ukraine.
The United States responded to the Russian intervention in [[Ukraine]] by using its control over the international banking system to slap sanctions on [[Moscow]]’s financial assets around the world, including freezing billions of dollars in banks in [[New York]]. By one estimate, $1 trillion in Russian assets were frozen and Russian banks were also denied access to the [[SWIFT]] global messaging service that connects financial institutions and facilitates rapid and secure payments.<ref>[https://www.cnn.com/2022/03/01/business/russia-economy-sanctions/index.html# The West’s $1 trillion bid to collapse Russia’s economy], Analysis by Charles Riley, [[CNN]] Business, March 1, 2022.</ref> [[Washington, D.C.|Washington]] subsequently announced that the frozen money would not be returned and would be instead used for Ukraine's reconstruction. That set off warning lights all around the world, though there had already been similar behavior on the part of the US in relation to Iranian and [[Venezuela]]n assets. There is particular resentment throughout much of the developing world of US attempts to use primary and secondary sanctions to coerce countries that are disinclined to do so into supporting the [[NATO]] war effort in Ukraine.
Russia has used BRICS to demonstrate it is not isolated despite [[Western alliance|Western]] sanctions. The 2024 Kazan summit advanced BRICS Pay, a blockchain-based payment system designed to reduce dependence on the [[U.S. dollar]] and [[SWIFT network]].<ref>https://www.ibanet.org/BRICS</ref> While [[de-dollarization]] remains largely [[rhetoric]]al, [[bilateral]] [[trade]] in [[dollar]]s has declined as [[Economic sanctions|sanctions]] proliferate.
==Misunderstandings in the West==
==Misunderstandings in the West==
The [[Collective West]] and its [[mainstream media]] have a pitiable and appalling misunderstanding what BRICS is and its aspirations. For example, in March 2025 [[President Trump]] stated that he thought [[Spain]] was member of BRICS.
The [[Collective West]] and its [[mainstream media]] have a pitiable and appalling misunderstanding what BRICS is and its aspirations. For example, in March 2025 [[President Trump]] stated that he thought [[Spain]] was member of BRICS.
BRICS expanded dramatically in 2024, adding Egypt, Ethiopia, Iran, and the United Arab Emirates to its original five members.<ref>https://www.cfr.org/backgrounders/what-brics-group-and-why-it-expanding</ref> The eleven-nation bloc now represents 45% of the world's population and more than a quarter of global [[GDP]]. More than thirty countries have expressed interest in joining, with thirteen admitted as partner countries at the October 2024 Kazan summit.
According to Carnegie Endowment analysis, Iran views BRICS as "both a [[geopolitical]] and [[economic]] counterweight to [[Western alliance|Western]] dominance."<ref>https://carnegieendowment.org/russia-eurasia/research/2025/03/brics-expansion-and-the-future-of-world-order-perspectives-from-member-states-partners-and-aspirants</ref> As one of the world's most [[Economic sanctions|sanctioned]] nations, [[Tehran]] sees the bloc as a hedge against [[American]] pressure. Supreme Leader [[Ayatollah Ali Khamenei]] stated in January 2025 that "one of our problems today is being dependent on the [[dollar]]."
Amid [[US]]-[[Iran]]ian tensions in early 2026, [[Russian Federation]] Deputy Foreign Minister and BRICS [[Sherpa]]<ref>A Sherpa is one who does all the heavy lifting in preparation before reaching a summit.</ref> [[Sergey Ryabkov]] clarified, "I would like to remind you that BRICS is not a [[military]] union and not a [[collective security]] organization with collective defense commitments. It has never been planned as such, and there are no plans to transform it for the purpose."<ref>https://tass.com/politics/2086713</ref>
==BRICS countries debt to GDP, 2025==
==BRICS countries debt to GDP, 2025==
It's worth noting that [[Russia]]'s [[debt-to-GDP ratio]] in 2025 is estimated at ~19%, significantly lower than most [[NATO]] countries. This low ratio provides Russia with fiscal flexibility to manage its [[budget deficit]] (2.2% of GDP in 2025) and sustain [[war]]-related spending, unlike high-debt NATO members like the [[United States]], the [[United Kingdom]], [[France]], [[Spain]], [[Italy]], [[Canada]], and [[Germany]] which face tighter constraints.
It's worth noting that [[Russia]]'s [[debt-to-GDP ratio]] in 2025 is estimated at ~19%, significantly lower than most [[NATO]] countries. This low ratio provides Russia with fiscal flexibility to manage its [[budget deficit]] (2.2% of GDP in 2025) and sustain [[war]]-related spending, unlike high-debt NATO members like the [[United States]], the [[United Kingdom]], [[France]], [[Spain]], [[Italy]], [[Canada]], and [[Germany]] which face tighter constraints.
[[File:BRICS debt to GDP.PNG|thumbnail|center|850px|]]
[[File:BRICS debt to GDP.PNG|thumbnail|center|850px]]
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==History==
==History==
After the fall of the [[Soviet Union]], the [[United States]] published two documents in 1996, ''Joint Vision 2010'' which promoted [[Full Spectrum Dominance]], and ''A Clean Break: A New Strategy for Securing the Realm'' detailing how the [[US]] [[hegemon]]'s plan to dominate [[West Asia]]. In response, Russian Foreign Minister [[Yevgeny Primakov]] formulated what was later called the Primakov Doctrine of which the core of BRICS—RIC—would eventually emerge.
After the fall of the [[Soviet Union]], the [[United States]] published two documents in 1996, ''Joint Vision 2010'' which promoted [[Full Spectrum Dominance]], and ''A Clean Break: A New Strategy for Securing the Realm'', detailing the [[US]] [[hegemon]]'s plan to dominate [[West Asia]]. In response, Russian Foreign Minister [[Yevgeny Primakov]] formulated what was later called the Primakov Doctrine of which the core of BRICS—RIC—would eventually emerge. On April 23, 1997, the Russian-Chinese Joint Declaration on a Multipolar World and the Establishment of a New International Order was signed in [[Moscow]] by [[President Boris Yeltsin]] for the [[Russian Federation]] and [[President Jiang Zemin]] for the [[People's Republic of China]].<ref>https://digitallibrary.un.org/record/234074/files/A_52_153_S_1997_384-EN.pdf?ln=en</ref>
==See also==
==See also==
*[https://www.wnd.com/2023/09/brics-alliance-really-threat-u-s-hegemony/ Commentary by Scott Lively]
*[https://www.wnd.com/2023/09/brics-alliance-really-threat-u-s-hegemony/ Commentary by Scott Lively]
[[Category:Economics]]
[[Category:Economics]]
[[Category:International Relations]]