- 04 Aug 2023 21:20
#15282118
World Bank, official figures: Russia is the fifth economy in the world to overtake Germany
Remember, the country of Germany has long been considered the economic powerhouse of Europe - the source of Europe's wealth and power. The balance of economics and power seems to be beginning to shift.
The World Bank has updated the databases for 2022 outcomes.
https://databankfiles.worldbank.org/pub ... DP_PPP.pdf
Russia has risen from 6th place to 5th in the world. It is striking how close (quietly, imperceptibly, as a result of evolution) Russia has gotten to Japan (the difference is less than 1/10). Soon it will catch up, and then overtake it.
At the same time, if we look at all this with the external debt taken into account, the picture may change for the better for Russia.
By the way, we are not talking about some BRICS bank. The World Bank is a bank with its head office in Washington. That is definitely pro-Western and controlled by Washington.
And let's not forget the fact that the Russians are at war, and war is expensive.
Oh, and don't forget the credit downgrade for the US.
This is actually very significant and symbolic.
The real question is why has Russia's economy been growing so much, and/or why has Germany's been contracting, at the same time?
Even if this is only due to foreign exchange rates, it still suggests that Russia has been exporting a lot more on the world market than Germany and that Russia's exports are more valuable.
Here's what I found:
"The German export surplus in 2022 was at its lowest level since 2000. The Federal Statistical Office (Destatis) reports that the foreign trade balance was down by more than half from +175.3 billion euros in 2021 to +79.7 billion euros"
"As imports fell, Moscow's trade balance - the difference between total exports and imports - swelled to $282.3 billion in 2022,"
Remember, the country of Germany has long been considered the economic powerhouse of Europe - the source of Europe's wealth and power. The balance of economics and power seems to be beginning to shift.
The World Bank has updated the databases for 2022 outcomes.
https://databankfiles.worldbank.org/pub ... DP_PPP.pdf
Russia has risen from 6th place to 5th in the world. It is striking how close (quietly, imperceptibly, as a result of evolution) Russia has gotten to Japan (the difference is less than 1/10). Soon it will catch up, and then overtake it.
At the same time, if we look at all this with the external debt taken into account, the picture may change for the better for Russia.
By the way, we are not talking about some BRICS bank. The World Bank is a bank with its head office in Washington. That is definitely pro-Western and controlled by Washington.
And let's not forget the fact that the Russians are at war, and war is expensive.
Oh, and don't forget the credit downgrade for the US.
This is actually very significant and symbolic.
The real question is why has Russia's economy been growing so much, and/or why has Germany's been contracting, at the same time?
Even if this is only due to foreign exchange rates, it still suggests that Russia has been exporting a lot more on the world market than Germany and that Russia's exports are more valuable.
Here's what I found:
"The German export surplus in 2022 was at its lowest level since 2000. The Federal Statistical Office (Destatis) reports that the foreign trade balance was down by more than half from +175.3 billion euros in 2021 to +79.7 billion euros"
"As imports fell, Moscow's trade balance - the difference between total exports and imports - swelled to $282.3 billion in 2022,"
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