BRICS to Surpass G7 in Economic Power by 2028 – Dilma Rousseff : Analysis

The BRICS member states are projected to surpass the G7 in terms of share in global GDP within the next four years, according to the head of the New Development Bank (NDB), Dilma Rousseff. Speaking at a summit in Dubai, Rousseff stated that the BRICS group’s share in global economic output will increase from 35% to 40% by 2028, while the G7’s share will decline to 27.8%. In addition, the share of BRICS in global trade has grown from 37% in 2016 to 41% in 2022, while the G7’s position has weakened with its share decreasing from 62% to 58%. The BRICS group, which expanded to include Saudi Arabia, Iran, Ethiopia, Egypt, and the United Arab Emirates in January, is also set to command over 40% of global crude oil production and have a population of almost 3.6 billion, accounting for nearly half of the world’s total. The NDB, established in 2014, provides funding for infrastructure and sustainable development projects and has since added Bangladesh, the United Arab Emirates, Egypt, and Uruguay as members. Saudi Arabia is currently in discussions to join as well.

Analysis:
This article discusses a statement made by Dilma Rousseff, the head of the New Development Bank (NDB), claiming that the BRICS member states are projected to surpass the G7 in terms of share in global GDP within the next four years. According to Rousseff, the BRICS group’s share in global economic output will increase from 35% to 40% by 2028, while the G7’s share will decline to 27.8%.

The article also mentions that the share of BRICS in global trade has grown from 37% in 2016 to 41% in 2022, while the G7’s position has weakened with its share decreasing from 62% to 58%. It highlights that the BRICS group expanded to include Saudi Arabia, Iran, Ethiopia, Egypt, and the United Arab Emirates in January, and is set to command over 40% of global crude oil production. Additionally, the BRICS group’s population is said to be almost 3.6 billion, accounting for nearly half of the world’s total.

The New Development Bank (NDB), established in 2014, is mentioned as providing funding for infrastructure and sustainable development projects. It has added Bangladesh, the United Arab Emirates, Egypt, and Uruguay as members, and Saudi Arabia is said to be in discussions to join.

In terms of credibility, the article does not provide any sources for the information presented. It relies solely on the statement made by Dilma Rousseff at a summit in Dubai. Without additional sources or data, it is difficult to independently verify the claims made in the article.

Potential biases in the article include the fact that it does not provide any counterpoints or alternative views. It presents the information as a projection and does not mention any potential risks or challenges that could affect the BRICS group’s ability to surpass the G7. The article also does not delve into the methodology or sources used to arrive at these projections.

Overall, the reliability of the article is questionable due to the lack of sources and data provided. The impact of the information presented is limited as it is based on a single statement by the head of the NDB. Without further evidence or analysis, it is difficult to fully evaluate the validity and accuracy of these claims.

In the context of the political landscape and the prevalence of fake news, articles like this can contribute to misinformation or a lack of nuanced understanding of the topic. The lack of sources and critical analysis can lead readers to accept the information presented as fact without questioning its validity. This can further reinforce preconceived notions or biases and contribute to a polarized and misinformed public perception. It is important for readers to seek multiple sources and critically evaluate the information they consume to avoid falling into these pitfalls.

Source: RT news: BRICS will overtake G7 in economic might by 2028 – Dilma Rousseff