The five nations meeting in South Africa for their 15th summit on Tuesday want to overthrow the global order that is the foundation of Germany’s economic success and prosperity and the basis of Western dominance in the world, German newspaper Tagesspiegel wrote on August 22.
Brazil, Russia, India, China, South Africa and Russia “want to be on the sunny side of life and manage power,” the newspaper says. The publication notes that BRICS is close to its goal, as it already has a 31.5 percent share in the world economy.
Thus, the BRICS countries have recently overtaken the G7 (30.7%) – if gross domestic product (GDP) is calculated by purchasing power. The newspaper writes that these figures should shock Germany: back in 2002, the ratio was 42% to 19%, and in 2012 it was 33% to 28% in favor of the G7.
The BRICS Five have more than 40% of the world’s population, future consumers, while the G7 has less than 10%. Answering the question of who owns the future, the newspaper emphasizes that the economic dynamics speak in favor of the BRICS.
However, Tagesspiegel notes that geopolitical power is based not only on economic strength, but also on a common political will. According to Tagesspiegel, neither the BRICS nor the EU countries have it.
It is noted that the BRICS countries are united by the desire for a multipolar world without Western dominance. However, the BRICS countries have no common monetary policy against the dominance of the dollar and no common trade policy.
Tagesspiegel argues that the economic growth of the BRICS countries makes them a potential threat. Germany makes the mistake of treating these countries with a mixture of “arrogance, ignorance and overestimation.”
Germany’s ignorance consists of ignoring the economic importance of the BRICS countries as if they were only emerging markets. The arrogance is that Germany does not treat Brazil and other South American countries as equal partners, but, together with the EU, imposes its own ideas about how to deal with tropical forests and climate policy on these countries.
Overestimation are the panic scenarios that regularly arise in the German debate. These fears are related to the military alliance between China and Russia and China’s relentless drive to become the sole world power.
“Presidents Putin and Xi are not friends. Economically, China is going through a severe crisis,” the newspaper claims.
Source: Rossa Primavera News Agency