News up date on Japan for 19 June 2024: The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses.
________
Russia Overtakes Japan as World's Fourth Largest Economy
By Drago Bosnic | Global Research | June 13, 2024
For decades, the political West was resting on its laurels after "winning" the (First) Cold War. It also expanded the tentacles of its malignant power projection to every corner of the world, including Russia itself, where liberal exponents of US/EU/NATO implanted themselves in the Kremlin, ensuring that Moscow's economic might is ruined, so that the Eurasian giant can never recover, let alone return to superpower status. Keeping Russia down was one of the crucial aspects of the infamous Wolfowitz Doctrine and one of the first documents published by the abominable Clinton administration. This unequivocally imperialist strategy that even many Americans thought was too much ended up killing millions of people across the globe and perpetuated an unprecedented aggression against the world that lasts to this very day.
As we can imagine, every step in the removal of the exponents of this malignant influence made the political West seethe, resulting in escalating hostility that Moscow inevitably had to respond to at some point. Precisely this happened in early 2022, when the Eurasian giant could finally demonstrate its resurgent power. The special military operation (SMO) was the result of decades of work on restoring Russian sovereignty.
Read more: Is IMF Pushing 'Russian Propaganda' Now?
In its aftermath, the political West insisted that Russia was finished. The economy was supposed to be in tatters, while the Kremlin was even expected to default after much of its foreign exchange (forex) reserves were frozen (i.e. stolen) by Western banks. After all this failed, the US-led belligerent power pole tried to impose the laughable price cap on Russian oil, one that even some of the most prominent Western nations tried to circumvent, including Japan and even the pathologically Russophobic United Kingdom. As for the United States, it continued buying Russian commodities while criticizing everyone else who did. Still, through its Kiev regime puppets, the political West launched a virtual total war on Moscow in an attempt to disrupt its economic activity and cause as much damage as possible without engaging it directly.
Once again, it all failed. The Kremlin managed to secure stability despite being forced to conduct the SMO against the entire political West. What's more, Russia overtook Germany as the world's fifth and Europe's largest economy, a humiliating defeat for its Western rivals who expected quite the contrary. Berlin did much worse than in decades, while London's economic performance was at its lowest in over 300 years. And yet, to "add insult to injury", now even Western data shows that the initial estimates of Moscow's economic performance were wrong and that it will actually be even better in 2024. Namely, the updated IMF's forecast of 2.6% GDP growth doubles its previous assessment. According to the Financial Times, this increase of 1.5% is the largest for any economy featured in an update to the IMF’s World Economic Outlook, released on January 30.
Top-ranking Russian officials, including the current Defense Minister Andrei Belousov, expected the economic growth to be stable enough for the Eurasian giant to overtake Japan by 2030. However, what was supposed to happen in no less than six years, actually happened in less than six months. According to the latest data, President Putin's forecast of increased economic growth (over 3.5-4%) not only turned out to be true, but even conservative, although the mainstream propaganda machine attempted to portray it as "too overoptimistic". However, the only thing that was actually too overoptimistic was the political West's expectation that the sanctions would work. Namely, according to new updates of the World Bank, Russia has overtaken Japan as the world's fourth largest economy in terms of GDP PPP (purchasing power parity).
Please go to Global Research to continue reading.
Maybe Japan should start negotiating to join BRICS?
BRICS developing platform for transactions in national currencies – Lavrov
Russia Overtakes Japan as World's Fourth Largest Economy
By Drago Bosnic | Global Research | June 13, 2024
For decades, the political West was resting on its laurels after "winning" the (First) Cold War. It also expanded the tentacles of its malignant power projection to every corner of the world, including Russia itself, where liberal exponents of US/EU/NATO implanted themselves in the Kremlin, ensuring that Moscow's economic might is ruined, so that the Eurasian giant can never recover, let alone return to superpower status. Keeping Russia down was one of the crucial aspects of the infamous Wolfowitz Doctrine and one of the first documents published by the abominable Clinton administration. This unequivocally imperialist strategy that even many Americans thought was too much ended up killing millions of people across the globe and perpetuated an unprecedented aggression against the world that lasts to this very day.
Keeping Moscow in a subservient state was imperative, a problem that the current Russian leadership had to contend with even after Vladimir Putin became president. It took him and his team at least 10-12 years to cure the Eurasian giant of the (neo)liberal disease in the Kremlin, while the remnants of its power were purged only in 2020, when invaluable constitutional reforms brought back Russia's sovereignty in full.
Read more: Is IMF Pushing 'Russian Propaganda' Now?
In its aftermath, the political West insisted that Russia was finished. The economy was supposed to be in tatters, while the Kremlin was even expected to default after much of its foreign exchange (forex) reserves were frozen (i.e. stolen) by Western banks. After all this failed, the US-led belligerent power pole tried to impose the laughable price cap on Russian oil, one that even some of the most prominent Western nations tried to circumvent, including Japan and even the pathologically Russophobic United Kingdom. As for the United States, it continued buying Russian commodities while criticizing everyone else who did. Still, through its Kiev regime puppets, the political West launched a virtual total war on Moscow in an attempt to disrupt its economic activity and cause as much damage as possible without engaging it directly.
Once again, it all failed. The Kremlin managed to secure stability despite being forced to conduct the SMO against the entire political West. What's more, Russia overtook Germany as the world's fifth and Europe's largest economy, a humiliating defeat for its Western rivals who expected quite the contrary. Berlin did much worse than in decades, while London's economic performance was at its lowest in over 300 years. And yet, to "add insult to injury", now even Western data shows that the initial estimates of Moscow's economic performance were wrong and that it will actually be even better in 2024. Namely, the updated IMF's forecast of 2.6% GDP growth doubles its previous assessment. According to the Financial Times, this increase of 1.5% is the largest for any economy featured in an update to the IMF’s World Economic Outlook, released on January 30.
Top-ranking Russian officials, including the current Defense Minister Andrei Belousov, expected the economic growth to be stable enough for the Eurasian giant to overtake Japan by 2030. However, what was supposed to happen in no less than six years, actually happened in less than six months. According to the latest data, President Putin's forecast of increased economic growth (over 3.5-4%) not only turned out to be true, but even conservative, although the mainstream propaganda machine attempted to portray it as "too overoptimistic". However, the only thing that was actually too overoptimistic was the political West's expectation that the sanctions would work. Namely, according to new updates of the World Bank, Russia has overtaken Japan as the world's fourth largest economy in terms of GDP PPP (purchasing power parity).
Please go to Global Research to continue reading.
________
Why do the British have a pathological hatred of the Russians?
Related to the IMF:
The fabricated idea that there is something like peak oil is utter nonsense and Russia knows this which makes Russia a world energy producing giant and that scares the west. With a global oil glut you would think this would bring lower energy prices but no, prices for energy are kept intentionally high.
Japan is in trouble. In order to compete in world markets Japan's largest corporations have crushed large and medium sized businesses in Japan. Japan is a tax regime and it is crushing the average Japanese worker in an economy where there has been no significant rise in worker's wages while the yen continues to get hammered against the USD and prices on consumer goods and energy continue to rise.
Maybe Japan should start negotiating to join BRICS?
BRICS developing platform for transactions in national currencies – Lavrov
The west's "rules based international order" pillages Russian assets:
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.