Russia has created a new alliance that many are calling the “new G8.” Russia
was expelled from the original Group of Eight in March 2014, following the
annexation of Crimea. Russia stated that it did not care about the snub. “All
the economic and financial questions are decided in G20, and G8 has the purpose
of existence as the forum of dialogue between the leading Western countries and
Russia,” Russian Foreign Minister Sergey Lavrov stated. There is no dialogue
between the major Western superpowers in Russia at this point in time. Former
President Obama’s ambassador to Russia, Michael McFaul, went as far as saying
that the West must insure Russia has “no real allies.”
Due to backfiring sanctions, Russia certainly does have allies and has created
a new G8 for good measure. Vyacheslav Volodin, head of the State Duma, stated
the following:
“The economies of the United States, Japan, Germany, Britain, France, Italy,
and Canada continue to collapse under the pressure of sanctions against Russia.
The breakup of existing economic relations by Washington and its allies has led
to the formation of new points of growth in the world.
The group of eight countries that do not take part in the sanctions wars –
China, India, Russia, Indonesia, Brazil, Mexico, Iran, Turkey – is 24.4 per
cent ahead of the old group in terms of GDP per capita.”
Volodin said that the seven named countries are interested in developing
“mutually beneficial relations with Russia,” and have already seen economic
progress despite ongoing sanctions. Putin has also said that he would like to
collaborate with emerging economies such as certain African nations that are
“still sleeping, but about to wake up.”
The plan to divorce Russia from the world economy has backfired. Russia is
increasing its international partnerships and trade as a direct result of the
policies aimed at isolating it from the world.
Categories: Politics, World Trade
Tags: Africa, Brazil, China, G8, India, Indonesia, Iran, Mexico, Russia, Turkey
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Ruth Sent Us | Armstrong Economics
The Roe v. Wade document was released to the public to stir up emotions prior
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A true lover of wisdom has hands too busy to hold on to anything! He learns by
doing and every pebble in the path becomes her teacher! Oink
On Thursday, June 16, 2022, 09:23:26 AM EDT, Waldo Hotz <hotwald@xxxxxxxxx>
wrote:
| The New G8
Posted: 2022-06-16 00:04:10-04 |
|
Russia has created a new alliance that many are calling the “new G8.” Russia
was expelled from the original Group of Eight in March 2014, following the
annexation of Crimea. Russia stated that it did not care about the snub. “All
the economic and financial questions are decided in G20, and G8 has the purpose
[…]
The post The New G8 first appeared on Armstrong Economics.
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