You’ve got something when you’ve got over half the world’s population and well over half the world’s natural resources either tacitly or explicitly on your team. From Tyler Durden at zerohedge.com:
The recent BRICS summit managed to run its course this past week with very little fanfare, despite the fact that Russia is in the midst of a conflict with Ukraine that has led to a worldwide economic war. China is edging towards a potential invasion of Taiwan, and much of the planet is in the middle of a stagflationary crisis in the meantime.
The one major takeaway from the summit was the reaffirmed stance of the BRICS that they would continue to work closely with Russia in economic terms.
Since the beginning of the invasion of Ukraine, there has been a running narrative in the western media that sanctions and the removal of Russian access to the SWIFT network would crush the country within a few months, leaving them penniless and unable to project military power. This has not happened.
A picture was painted by journalists and politicians of a completely isolated Russia, destroyed by a global cancel culture campaign that would de-nation them. In reality, Russian trade, specifically their oil trade, has actually expanded. Both China and India have increased their purchases of Russian oil while enjoying discounted prices. Simultaneously, Europe and the US are suffering from oil and gas inflation and the EU is cutting vital oil and gas supplies from Russia.