11mo ago

China must face ‘higher cost’ for backing Russia in Ukraine, says next EU foreign policy chief

www.theguardian.com

cross-posted from: https://feddit.org/post/4724783

China should face “a higher cost” for supporting Russia in the war against Ukraine, the EU’s incoming foreign policy chief, Kaja Kallas, has said.
The former Estonian prime minister was speaking to MEPs during a three-hour hearing before she takes office, when she listed Ukraine’s victory as a priority – stronger words than vaguer formulas of support voiced by some EU politicians.
“Victory of Ukraine is a priority for us all; the situation on the battlefield is very difficult,” Kallas told MEPs in her opening remarks. “That is why we must keep on working every day, today, tomorrow and for as long as it takes, and with as much military, financial and humanitarian aid as needed.”
[...]

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11mo ago

China must face ‘higher cost’ for backing Russia in Ukraine, says next EU foreign policy chief

www.theguardian.com /world/2024/nov/12/china-must-face-higher-cost-for-backing-russia-says-next-eu-foreign-policy-chief

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11mo ago

China must face ‘higher cost’ for backing Russia in Ukraine, says next EU foreign policy chief

www.theguardian.com /world/2024/nov/12/china-must-face-higher-cost-for-backing-russia-says-next-eu-foreign-policy-chief

10 comments

I was reading @superkret@feddit.org and @MaggiWuerze@feddit.org exchange and I found it an interesting - albeit moot - topic. So I went and spent the last hour to download some data and filter it: I will post some numbers with no commentary. I will add my opinions after them in a spoiler.
imf.org GDP, current prices, Billion of U.S. dollars
2023 GDP Nominal
NATO 52392,344
BRICS 27330,345
2024 GDP Nominal (estimates)
NATO 55148,819
BRICS 28442,630
imf.org GDP, current prices, Purchasing power parity; billions of international dollars
2023 GDP PPP
NATO 63996,245
BRICS 66010,889
2024 GDP PPP (estimates)
NATO 66812,821
BRICS 70911,69
imf.org GDP based on PPP, share of world
2023 GDP PPPSH
NATO 34,731
BRICS 35,824
2024 GDP PPPSH (estimates)
NATO 34,339
BRICS 36,446
BRICS
Brazil, People's Republic of China, Egypt, Ethiopia, India, Iran, Russian Federation, South Africa, United Arab Emirates
NATO
Albania, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, Republic of Türkiye, United Kingdom, United States
When Europe and the US put sanctions on China and Russia, there's an obvious problem, though:
BRICS countries now have a higher GDP than NATO.
- And?
  
  It's like me boycotting Nestlé.
- I don't know where you get that but:
  NATO DGP
  The combined GDP of all 31 NATO members, alongside impending addition of Sweden as a member state, amounts to a staggering $45.93319 trillion (calculation below).
  Placing this figure into context, the world’s GDP stands at approximately $100,562 trillion (nominal, 2022). Consequently, NATO’s GDP constitutes a formidable 45.65 percent of the global GDP.
  BRICS GDP
  All five initial member states are members of the G20, with a combined nominal GDP of US$28 trillion (about 27% of the gross world product), a total GDP (PPP) of around US$65 trillion (35% of global GDP PPP), and an estimated US$5.2 trillion in combined foreign reserves (as of 2024).
  Also see this list to see how insignificant the BRICS members are compared to the combination of EU, US and Canada: https://www.nationmaster.com/country-info/stats/Economy/GDP
  
  I don't know what point you're trying to make. According to your own quoted numbers:
  combined GDP of all NATO members +Sweden = $45.93319 trillion
  total GDP of only the five initial BRICS member states = $65 trillion
  So you compare NATO+ with only a part of current BRICS and it's still less.
Having read the thread and all the numbers which are very interesting, I can't help thinking that whatever the economic output is in whatever country or bloc, China must face higher cost for backing Russia in Ukraine.

10 comments