SCO & BRICS latest news and insights
By Rhod Mackenzie
Russian importers can no longer use Chouzhou Commercial, a Chinese bank that was previously their main settlement center. Transactions have been halted through both SWIFT and the Russian SPFS with the Chinese CIPS. According to the Deputy Chairman of the Board of SME Bank Alexey...
By Rhod Mackenzie
Russia accounts for 3.2% of the world's gross domestic product (GDP). The World Bank calculates the global GDP in purchasing power parity (PPP).
According to Rosstat, Russia is the fifth largest economy in the world in terms of GDP using P.P.P.
China, the USA, India, and Japa...
Over the past year, the BRICS economic alliance has grown notably in its prominence. Indeed, the bloc enacted its first massive expansion since 2001, inviting six nations to join its ranks. Subsequently, amid that expansion, the BRICS alliance is predicted by Goldman Sachs to dominate global GDP by...
The total investable wealth currently held in the BRICS bloc amounts to USD 45 trillion and its millionaire population is expected to rise by 85% over the next 10 years, according to the inaugural BRICS Wealth Report, published by international investment migration advisory firm Henley & Partners in...
By Rhod Mackenzie
Despite mild weather and increased wind generation in Europe, gas prices did not decrease further in the region. On Friday, February 2, exchange prices for gas in Europe increased by 1.5% to $329 per thousand cubic meters, according to data from the London ICE exchange.
Accordin...
By Rhod Mackenzie
The real estate crisis in China has the potential to trigger a more severe and prolonged crisis, leading to a lost decade for the country. This could have a significant impact on the global economy.
The ongoing crisis in China is not the first time the real estate market has exp...
