The Emergence Of A New Global Economic Bloc

At St. Petersburg on Friday, backers of multipolarity pushed forward integration of their networks. Photo Credit: The Cradle  

Pepe Escobar, The Cradle: St. Petersburg sets the stage for the War of Economic Corridors 

In St. Petersburg, the world's new powers gather to upend the US-concocted “rules-based order” and reconnect the globe their way 

The St. Petersburg International Economic Forum has been configured for years now as absolutely essential to understand the evolving dynamics and the trials and tribulations of Eurasia integration. 

St. Petersburg in 2022 is even more crucial as it directly connects to three simultaneous developments I had previously outlined, in no particular order: 

* First, the coming of the “new G8” – four BRICS nations (Brazil, Russia, India, China), plus Iran, Indonesia, Turkey and Mexico, whose GDP per purchasing parity power (PPP) already dwarfs the old, western-dominated G8. 

* Second, the Chinese “Three Rings” strategy of developing geoeconomic relations with its neighbors and partners. 

* Third, the development of BRICS+, or extended BRICS, including some members of the “new G8,” to be discussed at the upcoming summit in China. 

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WNU Editor: This caught my attention on how quickly the world is changing .... the coming of the “new G8” – four BRICS nations (Brazil, Russia, India, China), plus Iran, Indonesia, Turkey and Mexico, whose GDP per purchasing parity power (PPP) already dwarfs the old, western-dominated G8.