Topic: Meanwhile BRICS talk, Ruzzian CEOs and busniness brace for crash (Read 55 times)

You haven't figured it out, yet, have you. BRICS is simply becoming a Swift-like system... one that doesn't have the corrupt, Western banking system as its controller.

BRICS is totally viable, and with Trump at the US helm, there will be enough peace in the world for the BRICS nations to develop it.

Why would they want BRICS when Trump-peace is there, and they can use a peaceful Western banking system? Because the Western banking system still steals from us all through inflation and more, even if it is peacefully done.

The BRICS nations have the technology, even if they got it from the West. They don't need the West or their corrupt banking system any longer.

The name yes, as someone invented the "Dragons" for the Souther Asia emergings or PIGS for the countries with large debts (I am not sure what was for sale there), but it caught some momentum in terms of naming. However, it is true, there is no point in trying to make countries so diverse and with such different interests be somehow "a group" just by saying they are and yet... in investment terms they do have stuff in common.

Not surprising.  BRICS was invented by Goldman Sachs to sell investments in poor countries to rich people in the West.  It's a joke by definition.

MOSCOW, Oct 23 (Reuters) - A growing chorus of Russian industrial companies and lobby groups are complaining of prohibitively high interest rates and warning that goals for infrastructure development may be missed, with the central bank bearing the brunt of the criticism.
[...]

Heads of major state companies and business lobby groups say the issue has now become critical, threatening to derail future investment projects and economic growth.

Sergei Chemezov, head of state industrial conglomerate Rostec, said high-tech sectors were the drivers of development but the central bank's high key rate was putting the brakes on further industrial growth.
"It renders (new) loans for companies' further development practically meaningless," he said at an October meeting between defence companies and machine builders.
[...]

ELECTRICITY PRICE RISES

In the capital-intensive power sector, the capacity to build new plants and modernise old ones is dwindling. High inflation has sharply raised equipment costs, and Western sanctions over the Ukraine conflict have curbed Russia's access to technology.
[...]
Alexandra Panina, head of the board of Russia's Council of Energy Producers.

"Further growth of the key rate will trigger further price rises for energy projects and, accordingly, of electricity prices in Russia.

Unusually hot weather and an accident at the Rostov nuclear power plant caused mass power outages and blackouts in several southern regions this summer, eliciting rare public protests in the city of Krasnodar.

Credit costs will account for over 50% of final electricity costs if rates stay this high for long, said Alexei Ilchuk, head of the energy ministry's analytical group on the power sector.

[...]

"MONEY IS TOO EXPENSIVE"

Panina said some construction tenders for power plants in Siberia and southern Russia have partially failed due to the high cost of borrowed funds. Seven companies are discussing abandoning 17 projects with a capacity of 2.13 gigawatts, she said.

Steelmaker MMK (MAGN.MM), opens new tab last week blamed high interest rates as one of the reasons for an 18.7% drop in quarter-on-quarter sales.
At a forum in Sochi this month, Gazprom Energoholding declared in a presentation that "money is too expensive".
Smaller firms, too, are tightening their belts.
[...]