The BRICS nations – Brazil, Russia, India, China, and South Africa – are some of the largest and fastest-growing economies in the world. These countries account for a significant portion of global economic output and are increasingly playing a key role in shaping the future of the global economy. One commodity plays a crucial role in the development and growth of these nations: oil.
Simon Hunt, an oil and gas industry expert, has long been highlighting the importance of oil as a key commodity for the BRICS nations. Oil is a critical component of these countries’ economies, as it is used for transportation, power generation, and industrial production. The demand for oil in these nations is expected to continue to rise as their economies grow and their populations expand.
In recent years, Hunt has pointed out that the BRICS nations are becoming increasingly significant players in the global oil market. China, for example, has emerged as the world’s largest importer of oil, and India is also a major importer of the commodity. As these countries continue to industrialize and urbanize, the demand for oil is projected to increase further.
Hunt has also highlighted the importance of oil in the geopolitical context of the BRICS nations. Many of these countries are heavily reliant on oil imports from politically unstable regions, such as the Middle East. This dependence on oil from volatile regions poses a significant risk to their economies and security.
In response to these challenges, Hunt has emphasized the need for the BRICS nations to diversify their energy sources and reduce their dependence on oil. This includes investing in renewable energy sources, such as solar and wind power, as well as developing their own domestic oil reserves.
Overall, Simon Hunt’s insights on the importance of oil to the BRICS nations shed light on the challenges and opportunities facing these emerging economies. As these countries continue to grow and develop, it will be crucial for them to address their reliance on oil in order to ensure sustainable economic growth and energy security.
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China used to be "no money, no talk" but very soon it'll be "no gold, no talk". The US will be in big trouble soon. No gold means no Chinese products delivered to the world. China has enough population numbers to keep her economy running domestically like a miniature Earth until the whole world agrees to pay China in gold for Chinese goods.
Currency is not backed by gold unless it is specifically denominated in quantity & quality and you can anonymously & instantly redeem the currency for gold in the guaranteed amount.
That is why the amount of gold held by Communist China (or any Communist or totalitarian country) does not matter. They will never let you anonymously redeem their currency for gold.
Do not believe their propaganda.
A country that only prints enough currency that it can anonymously redeem in gold in guaranteed amount & quality will become the de facto reserve currency overnight.
Wait so … did they find anything in Iraq ? How many people did the west kill in Iraq / afghanistan / Syria? Yeah okay stop preaching like the west is all for freedom n democracy.
3.7 Billion consumers in all of the BRICS countries. All of NATO don't even have 1 Billion in Population. Power by number's
I have been staking both. When the economy collapses you will be able to buy with it. In the United States, states are making it legal tender, Colorado and now Texas and a few others. Hoping to get dirt cheap housing. So if they make Gold to 50k an ounce which seems crazy but there are rumors . Silver is a better choice. Mexico has reduced it's out put and other countries. Now the ones joining Brics . I am a simple person but watching them decrease production. Why? They are going to raise the heck out of it. The United states Banks or government can't manipulate it anymore.
no I never disrespected the Chinese government or people unlike the US
What effect will this have on comes price manipulation?
How come there are not enough comments on this?
if Mexico joins BRICS, can then Russia and China bring tanks to the south border…just asking for your information!??
World war 3
And not so essential to the dollar. So having more options out there the better. No sense in putting all eggs in one basket. How does another 2008 meltdown sound? Powerful nations can't be bullied any more. Bring it on BRICS.. make the would a better place.
Gold is NOT Central to the BRICS+ Equation. It's just a part of the Equation. Commodities, Resources, and access to Huge Markets in BRICS+ is what will drive the Emerging and Developing Economies forward.
How to buy
Wow
Nice
"BRIC" added the "S" when S. Africa joined 13 years ago! Before pandemic & two Russian invasions, and prior Xi declaring himself lifetime leader. And Putin being subject to arrest in 126 Nations. And China killing Indians in border clash, and prior Crypto collapse of 2022, including 140 nations voting against Russian invasion.
And Brazilian president Bolsonora now near Indictment! So Yeah, the CCP Dictatorship & its Non free – market Economy, with Zero transparency – would now have a Full World "TRUST" in their new yuan Crypto. Just after their Gigantic internal Housing Bubble collapse, and with plans to invade Taiwan in three years. ROFLMAO!
Maybe another 13 years & all the World might rush to invest in CCP crypto as the World's currency. LMAO!