BRICS Have Won – Folker Hellmeyer: US To Lose Its Ground Under BRICS Pressure

From: Sputnik


Blind adherence to US policies and the introduction of anti-Russian sanctions have turned fatal for Europe; the axis of Russia-China-BRICS is set to overturn the global economic system and to prevail over the hegemony of the US, according to the chief economist of the German Bremer Landesbank.


The real damage to the EU countries caused by the launch of anti-Russian sanctions is much more comprehensive than that estimated by the statistics, Folker Hellmeyer, chief economist of the German Bremer Landesbank told in an interview with Deutsche Wirtschafts Nachrichten.

“The slump in German export volume by 18 percent in 2014 and by 34 percent for the first two months of 2015 is just the tip of the iceberg,” he said. “There are much more of the side-effects.”

“European countries, like Finland and Austria, who have strong developing businesses in Russia, place fewer orders within Germany. Moreover, the European corporations evade sanctions and create high-efficient production facilities in Russia. We, therefore, lose this potential capital stock, which is the basis of our prosperity, and Russia wins.”

The relationship of trust between Russia and Germany and the EU is somewhat broken. And it will take years to rebuild it.

As the result, such companies as Siemens and Alstom have lost major projects in Russia, he said. The potential damage not only for Germany but for the whole of the EU, therefore, is much more comprehensive than what is being shown by current figures.

Meanwhile, Moscow, Beijing and other BRICS countries are looking forward to building the largest projects of the modern history: the construction of new Eurasian infrastructure from Moscow to Vladivostok, in South China and India.

Participation of the Western countries in these mega-projects looks quite uncertain, Hellmeyer said.

“For me, the conflict has already been set,” he said. “The axis Moscow-Beijing-BRIC has won. The West had enough. In 1990 th, these countries accounted for about 25% of world economic output. Now, they represent 56% of world economic output, and account for 85% of world population.

They control about 70% of the world’s foreign exchange reserves. They grow annually by an average of 4% — 5%. Since the United States has not been prepared to share the power worldwide, nor to build the emerging market sector on its own financial system, it lost.”

Neither problem in the world nowadays can be solved without Moscow or Beijing, said the economist.

The lack of its own agenda makes the EU and Germany look like a loser.

“The longer we pursue this policy in the EU, the higher is the price. The less one will take us seriously as an interlocutor,” he added.

Related: Russia Establishes BRICS Foreign Currency Reserve

Related: BRICS Development Bank Won’t Rival China-Led AIIB, But Complement – CBR Head



2 Responses to “BRICS Have Won – Folker Hellmeyer: US To Lose Its Ground Under BRICS Pressure”

  1. Lynn says:

    This is good news !! the American petrodollar has wreaked havock around the globe. Hence the regime changes under the guise of democracy to force the usury bankers on them. It is why Obomber wants us to stay in EU. The mess we are all in leads back to the Amerika corporation agenda. Enough proof is out there now to see the collossal damage it has done worldwide.

  2. StenB says:

    Seems that GMO from Monsanta refused by Russia until proven safe could have been a main driver behind US recent hate tactics. That Putin made IMF redundant in Russia by paying back the last cent of what Jeltsin borrowed was of course the first serious set back from a country wanting to stand on own feet instead of being ruled by bankers. Ukraine was apparently offered a few 100 Billions by IMF, if the allow GMOs in the former GMO free area. Obama all stinks even before TTIP after seeing what puppet he is.

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