On Saturday, August 26, 2023 at 1:26:54 AM UTC-7, Paul Popinjay wrote:
Argentina
Egypt
Ethiopia
Iran
United Arab Emirates
and
Saudi Arabia
I don't understand the Ethiopia add much at all unless it's just to jerk off South Africa. Argentina has some real currency problems along with a new leader who wants everything in USD and their entire political class is suddenly becoming friendly to
mining for once which is good if you own mining companies in Argentina, but curious if you are a BRICS country. I'm thinking the Argentina add was to jerk off Brazil so they didn't feel all alone in BRICS as they do have a lot of bilateral trade with
Argentina.
The real interesting thing to me is if BRICS will make BRICS countries want to import more goods from BRICS countries rather than the US. Will Ethiopia import planes from Russia, tractors from China, rather than the USA?
Mostly I think BRICS is just a trade mechanism to bypass the USD and it might take some time before it has any effects on the USD as each effect will probably be a cumulation of changes in trade deals that favor BRICS and hurts the USA. If Russia really
wants to hurt the USA, it'll need to beat up USA agriculture and arms sales and China will have to keep making advancements on chips. and beat up the USA that way. Trading oil in other currencies could also have great effect BUT it'll only work to the
extent that those oil producing countries have use for those currencies in bilateral trades.
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