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BRICS to launch independent financial system (vovworld.vn)

submitted 2 months ago by cyu@sh.itjust.works to c/worldnews@lemmy.ml

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[–] Valmond@lemmy.world -2 points 2 months ago (1 children)

Russia is in for a harsh wakeup when the Ukrainian war ends (or in 2026 if the war is still ongoing IMO). Their economy is "looking good" right now only because it has been switched to a war economy, and the Kremlin injects tons of cash in it, but lots of it isn't useful for the russians, it's just getting destroyed in the war.

Also the ruble is close to a dead currency, nobody wants to trade in it any more.

[–] yogthos@lemmy.ml 8 points 2 months ago* (last edited 2 months ago)

I implore you to learn what a war economy actually is. Spending 6% of the GDP on military industry is not it. Here's a starter for you https://online.norwich.edu/online/about/resource-library/cost-us-wars-then-and-now