AlvaroCrtn
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Summary of Vladimir Putin's speech at the BRICS summit:
🔹 **Critique of liberal globalization**: Putin stated that the model of liberal globalization is outdated and that the world economic order is changing rapidly.
🔹 **Rise of emerging markets**: He pointed out that the center of economic activity is shifting to developing markets, driving the growth of BRICS countries (Brazil, Russia, India, China, and South Africa).
🔹 **Economic weight of the BRICS**:
- They represent almost half of the world population and 40% of the global economy.
- According to the IMF, their combined GDP in purchasing power parity reaches 77 trillion dollars, surpassing that of the G7 (57 trillion).
🔹 **Financial and trade cooperation**:
- 90% of transactions between Russia and the other BRICS countries are conducted in national currencies.
- Brazil supports the Russian proposal to create a grain exchange, highlighting that the group produces 44% of the world's grain.
🔹 **Critique of liberal globalization**: Putin stated that the model of liberal globalization is outdated and that the world economic order is changing rapidly.
🔹 **Rise of emerging markets**: He pointed out that the center of economic activity is shifting to developing markets, driving the growth of BRICS countries (Brazil, Russia, India, China, and South Africa).
🔹 **Economic weight of the BRICS**:
- They represent almost half of the world population and 40% of the global economy.
- According to the IMF, their combined GDP in purchasing power parity reaches 77 trillion dollars, surpassing that of the G7 (57 trillion).
🔹 **Financial and trade cooperation**:
- 90% of transactions between Russia and the other BRICS countries are conducted in national currencies.
- Brazil supports the Russian proposal to create a grain exchange, highlighting that the group produces 44% of the world's grain.
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