Will US policy and distrust allow BRICS to become more powerful?

[spidermike007]

BRICS would appear to be becoming emerging, and gaining power by the day, more nations have joined recently, and 30 more are interested in membership, which represents more than half the world's population.

 

Many of Trump's policies are alienating our closest allies and forcing other nations to find alternatives. Some would argue that America became the world's leading economy due to a lack of tariffs, and a free and open system. If you want to look at how punishing the effects of tariffs can be, just look at the Thai economy. Trump's tendency to punish people who speak truth is not appealing and attractive is bound to diminish Trust in America's institutions the dollar and the markets. If not right now certainly within the next few years. 

 

Economics and politics have always been intertwined. Presidents, along with Congress, set tax rates, make trade deals, tighten and loosen regulations, and control vast amounts of federal spending. And they are held accountable by voters, fairly or unfairly, for how the economy performs on their watch. But while policies and priorities may shift from one administration to the next, investors and businesses have long been able to rely on a bedrock structure of rules and rule makers that are, if not entirely free of political influence, at least somewhat insulated from it.

 

They could trust, for example, that the Fed would follow its legal mandate to keep prices stable and the labor market strong, regardless of the political ramifications for the person in the Oval Office.

They could be confident that statistical agencies would produce the most accurate numbers they could, and leave it to others to fight over how to interpret them.

They could have faith that regulatory agencies and the Department of Justice would enforce their rules consistently, and that if they didn’t — if rules were applied unfairly or property was seized unjustly — they could bring those grievances to an independent court of law.

 

“Every part of the American success, such as it is — the U.S. as an innovation hub, the U.S. as a place where people bring their money for safety — those have all been rooted in some sort of belief and some sort of reality of U.S. courts and U.S. agencies functioning well,” said Daron Acemoglu, an economist at M.I.T. who won a Nobel Prize last year for his research on the importance of institutions to economic growth.

 

All of those pieces are now being threatened. Mr. Trump has said he plans to replace the ousted commissioner of the Bureau of Labor Statistics with E.J. Antoni, a right-wing economist better known for criticizing the agency and supporting the administration’s policies than for his expertise in government data. Mr. Antoni still requires Senate confirmation.

 

Economists worry that the politicization of government statistics could set the United States on a path similar to that of Argentina, Greece and Turkey, other countries that have tried to suppress or fudge politically inconvenient data.

Mr. Trump has also tried to bend the Fed to his will and pressure it to slash interest rates. He has repeatedly threatened to fire its chair, Jerome H. Powell, who has kept rates steady since Mr. Trump took office. The president, who does not have the power to fire the Fed chair, is now trying to stack the central bank with loyalists who will commit to slashing borrowing costs.

 

 

[johng]

BRICS  is a reaction to  longstanding US (and minions)  misuse of sanctions and weaponisation of its Dollar as the 'de facto' trading currency.. Gaddafi tried to oppose it earlier and look what happened to him.

Thankfully this time  many nations have collectively said enough is enough joined together  Brazil ,Russia,China and many more can't be ignored ( or bumped off) this time.

[Lacessit]

In the last few months, American allies have developed far more antipathy towards the USA. The value of alliances with an erratic nation, making policy on social media, is open to question.

 

China is the dominant component of the BRICS. It is holding out favorable deals, not threats.

 

Xi is probably following Napoleon Bonaparte's aphorism of never interrupting an enemy when he is making a mistake.

[dinsdale]

There's a chance and only because of India, China's economy, however, isn't as rosy as as the CCP would have people believe.

[SunnyinBangrak]

Not sure about that Mike, but the democrats and hivemind cult falsely claiming Russia cheated in an American election to get their puppet elected (all complete BS) and then ramping up hatred and Russophobia to the extent they funded a hot war against Russia certainly could have driven Russia away and strengthened BRICS. Right??

[stevenl]

No question about it, it's happening already. There were meetings between all major BRICS players already, with others keen.

[Lacessit]

32 minutes ago, SunnyinBangrak said:

Not sure about that Mike, but the democrats and hivemind cult falsely claiming Russia cheated in an American election to get their puppet elected (all complete BS) and then ramping up hatred and Russophobia to the extent they funded a hot war against Russia certainly could have driven Russia away and strengthened BRICS. Right??

IIRC Russia invaded Ukraine. That country did not invade Russia.

 

Please don't let that fact get in the way of your conspiracy theory.

[candide]

1 hour ago, SunnyinBangrak said:

Not sure about that Mike, but the democrats and hivemind cult falsely claiming Russia cheated in an American election to get their puppet elected (all complete BS) and then ramping up hatred and Russophobia to the extent they funded a hot war against Russia certainly could have driven Russia away and strengthened BRICS. Right??

You are making stuff up again... 😅

 

Democrats did not claim that Russia "cheated" (meaning: rigged votes). They claimed that Russia interfered in the election in an attempt to help Trump. As proven subsequently by the Republican Mueller and the GOP-led Senate Committee led by Rubio.

 

From the report signed by Rubio:

 

The Committee found that Russian President Vladimir Putin ordered the Russian effort to hack computer networks and accounts affiliated with the Democratic Party and leak information damaging to Hillary Clinton and her campaign for president,”

 

“Moscow’s intent was to harm the Clinton Campaign, tarnish an expected Clinton presidential administration, help the Trump Campaign after Trump became the presumptive Republican nominee, and undermine the U.S. democratic process.”

 

Report of the Select Committee on Intelligence United States Senate on Russian Active Measures Campaigns and Interference in the 2016 U.S. Election

https://www.intelligence.senate.gov/2020/08/18/publications-report-select-committee-intelligence-united-states-senate-russian-active-measures/

[Oliver Holzerfilled]

2 hours ago, spidermike007 said:

 

Economists worry that the politicization of government statistics could set the United States on a path similar to that of Argentina, Greece and Turkey, other countries that have tried to suppress or fudge politically inconvenient data.

 

Mike where did you source this paragraph? 

[stevenl]

9 minutes ago, Oliver Holzerfilled said:

 

Mike where did you source this paragraph? 

New York times 

[swissie]

2 hours ago, stevenl said:

No question about it, it's happening already. There were meetings between all major BRICS players already, with others keen.

As long as the US is waging an economical war against the rest of the world, BRICS will strenghten. Or better: They will HAVE to strenghten.