Some “BRICS News” Wednesday 9-18-2024
BRICS Deal with Egypt and dismiss US and France's offers: What's next?
Fastepo: 9-18-2024
In recent years, Egypt has shifted its foreign policy and economic alliances away from its traditional Western focus, particularly on the U.S. and Europe, in favor of deeper engagement with Eastern powers, notably China and Russia, as well as key Middle Eastern nations.
This pivot reflects Cairo's pragmatic response to evolving global dynamics, as it seeks to diversify its economic and geopolitical ties amid shifting international power structures.
Egypt’s partnership with China has flourished, primarily driven by shared economic and strategic interests. As a crucial participant in China's Belt and Road Initiative (BRI), Egypt plays a pivotal role in facilitating global trade through the Suez Canal, a critical artery in China’s maritime network.
Chinese investments in Egypt have surged, particularly in infrastructure, manufacturing, and energy sectors. The Suez Economic and Trade Cooperation Zone, which hosts numerous Chinese enterprises, exemplifies Beijing's commitment to strengthening Egypt’s industrial base.
China has now become the largest investor in Egypt's Suez Canal Economic Zone, with a notable presence in the construction of Egypt’s new administrative capital, a megaproject symbolizing Cairo’s ambitions for modern development. China’s approach—centered on non-interference and purely economic cooperation—contrasts with the U.S.’s historically military-driven engagement.
This has made Beijing an attractive alternative partner for Egypt. In 2022, bilateral trade between China and Egypt reached approximately $13 billion, and large-scale Chinese-funded infrastructure projects have helped create jobs and bolster Egypt's manufacturing capacity.
This growing relationship signals a broader reorientation in Cairo’s external relations, aimed at reducing its reliance on Western aid, often conditioned on political reforms and human rights concerns.
From FARMS to FINANCE: BRICS Crushes U.S. Economic CONTROL
Think BRICS: 9-18-2024
The BRICS nations are shaking up the global economic order, challenging U.S. dominance in trade, agriculture, and finance. This video explores how BRICS economic dominance is reshaping the world by disrupting reliance on the U.S. dollar and shifting global trade dynamics.
With a growing agricultural trade deficit, the U.S. is losing its long-held position as the world’s breadbasket, while BRICS countries like China and Brazil are stepping into the spotlight.
From China’s shocking cancellation of massive wheat orders to the rise of a BRICS alternative payment system, the video explains how these moves are impacting U.S. farmers and global food markets.
The multipolar world BRICS envisions, with local currency trade, is steadily materializing, reducing dependency on Western financial systems like SWIFT.
Countries are increasingly settling trade in renminbi and other local currencies, furthering de-dollarization. As the U.S. agricultural exports decline and BRICS nations solidify their financial infrastructure, this shift could lead to a future where the China global reserve currency plays a central role, destabilizing traditional power structures.
The video also discusses how these changes are causing a disruption in the agriculture market, posing a threat to global food security.
00:00 - Introduction: BRICS nations leading global economic transformation
00:38 - BRICS redefining trade and finance through local currencies
01:14 - U.S. agricultural dominance challenged by BRICS nations
02:32 - China's wheat cancellations impact global markets
03:47 - U.S. crop price decline and BRICS trade shifts
04:22 - BRICS countries trading outside the U.S. dollar
04:56 - BRICS economies surpass G7 in GDP at purchasing power parity
05:40 - BRICS' financial infrastructure and development bank expansion
06:14 - BRICS' alternative international payment system
06:49 - U.S. response to BRICS and potential tariffs
07:26 - China's nuanced strategy and rise of a multi-currency system
08:07 - Regionalization of the global economy and challenges for the West
08:43 - BRICS fostering a multipolar world and influencing agriculture
09:21 - BRICS economic growth and global South's increasing influence
10:03 - Conclusion: BRICS reshaping global economic and trade systems