World Bank, official figures: Russia is the fifth economy in the world to overtake Germany This is actually very significant and symbolic. Remember, the country of Germany has long been considered the economic powerhouse of Europe - the source of Europe's wealth and power. The balance of economics and power seems to be beginning to shift. The World Bank has updated the databases for 2022 outcomes. https://databankfiles.worldbank.org/pub ... DP_PPP.pdf Russia has risen from 6th place to 5th in the world. It is striking how close (quietly, imperceptibly, as a result of evolution) Russia has gotten to Japan (the difference is less than 1/10). Soon it will catch up, and then overtake it. At the same time, if we look at all this with the external debt taken into account, the picture may change for the better for Russia. By the way, we are not talking about some BRICS bank. The World Bank is a bank with its head office in Washington. That is definitely pro-Western and controlled by Washington. And let's not forget the fact that the Russians are at war, and war is expensive. Oh, and don't forget the credit downgrade for the US. The real question is why has Russia's economy been growing so much, and/or why has Germany's been contracting, at the same time? Even if this is only due to foreign exchange rates, it still suggests that Russia has been exporting a lot more on the world market than Germany and that Russia's exports are more valuable. Here's what I found: "The German export surplus in 2022 was at its lowest level since 2000. The Federal Statistical Office (Destatis) reports that the foreign trade balance was down by more than half from +175.3 billion euros in 2021 to +79.7 billion euros" "As imports fell, Moscow's trade balance - the difference between total exports and imports - swelled to $282.3 billion in 2022,"
You obviously didn't pay attention to the small print in the source. This has already been debunked in the thread started by one of Putin's propaganda clowns. "PPP figures are extrapolated from 2017 benchmark estimates by the International Comparison Program (ICP)" These are the correct numbers. https://databankfiles.worldbank.org/public/ddpext_download/GDP.pdf First fifteen countries. Gross domestic product 2022 (millions of US Dollars) 1 United States 25,462,700 2 China 17,963,171 3 Japan 4,231,141 4 Germany 4,072,192 5 India 3,385,090 6 United Kingdom 3,070,668 7 France 2,782,905 8 Russian Federation 2,240,422 9 Canada 2,139,840 10 Italy 2,010,432 11 Brazil 1,920,096 12 Australia 1,675,419 13 Korea, Rep. 1,665,246 14 Mexico 1,414,187 15 Spain 1,397,509
Could you provide some sort of quick and clear explanation why it is incorrect? What exactly do those 2017 PPP figures have to do with it?
Because Russia is making a killing selling fossil fuels, while Germany is committing economic suicide by foolishly trying to eliminate them. War is highly stimulative... as long as you are fighting it in someone else's country. One country is onboard with anti-fossil-fuel nonscience, the other isn't. Higher oil prices. Not rocket science.
