IMF UPGRADES Russia to world’s 4th LARGEST economy!
IMF UPGRADES Russia to world’s 4th LARGEST economy!
READ THE ENTIRE RT.COM ARTICLE HERE!
WHAT HAPPENED TO THIS PRESIDENT BIDEN STATEMENT FROM 2.5 YEARS AGO? “AS A RESULT OF THESE UNPRECEDENTED SANCTIONS, THE RUSSIAN RUBLE ALMOST IMMEDIATELY IS REDUCED TO RUBBLE!”
HOW CAN THE U.S. PRESIDENT, WHO RELIES ON THE MOST ADVANCED INTELLIGENCE COMMUNITY IN THE WORLD, WITH THE MOST ADVANCED THINKTANKS, ECONOMISTS, FINANCE AND CURRENCY EXPERTS AND WAR GAMING AT THEIR DISPOSAL, BE SO WRONG IN THIS ASSESSMENT IN SUCH A SHORT PERIOD OF TIME?
IF THEY WERE WRONG ABOUT THIS, SOMETHING SO MAJOR AND IMPORTANT, WHAT ELSE ARE THEY WRONG ABOUT? HAVE YOU TAKEN THE STEPS TO PROTECT YOUR FINANCES FROM SOME OTHER MAJOR ISSUE THEY ARE WRONG ABOUT THAT CAN BRING ABOUT A BLACK SWAN EVENT?
The International Monetary Fund (IMF) has ranked Russia as the world’s fourth-largest economy based on purchasing power parity (PPP).
PPP compares economic productivity and standards of living between countries by adjusting for differences in the cost of goods and services.
In its World Economic Outlook published on Tuesday, the IMF said Russia’s gross domestic product (GDP) in 2024 amounts to 3.55% of global GDP in terms of PPP, outperforming Japan, which has 3.38%.
According to the report, Russia ranks fourth in terms of PPP after China (18.8%), the US (15%), and India (7.9%).
The latest figures show that the world’s leading economies by PPP now include three BRICS countries – China, India, and Russia – the report authors noted, pointing out that Russia’s upgrade has been driven by Western sanctions.
“Today we have to implement aggressive import substitution and establish our own production. Therefore, Russia’s fourth place is quite expected,” the head of Macroeconomic Research Center at the Financial University, Evgeny Balatsky, told Rossyiskaya Gazeta.
“In recent years, Russia overtook its European competitors – one after another – the UK, France, Germany, and now Japan,” he added.
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Back in the 1990’s when I was hitchhiking around Europe and staying in hostels, a continuing topic of conversation was the utter ignorance of Americans and lack of awareness of any other person, nation, or culture outside of the suburb, or possibly State, where they came from. At a higher level, it is NO surprise that US decision makers base their approach from a platform of perceived omnipotence. Plenty of commentators called the stupidity of the policy out at the time, but the US will always remain deaf to the rest of the world. Sadly Trump is also likely to deliver that same profile to the world…and the time when that approach could work passed around the turn of the century…