The Unz Review:ㅤSt. Petersburg Sets the Stage for the War of Economic Corridors, by Pepe Escobar

the-unz-review:ㅤst.-petersburg-sets-the-stage-for-the-war-of-economic-corridors,-by-pepe-escobar

18-06-22 04:10:00,

The St. Petersburg International Economic Forum has been configured for years now as absolutely essential to understand the evolving dynamics and the trials and tribulations of Eurasia integration.

St. Petersburg in 2022 is even more crucial as it directly connects to three simultaneous developments I had previously outlined, in no particular order:

First, the coming of the “new G8†– four BRICS nations (Brazil, Russia, India, China), plus Iran, Indonesia, Turkey and Mexico, whose GDP per purchasing parity power (PPP) already dwarfs the old, western-dominated G8.

Second, the Chinese “Three Rings†strategy of developing geoeconomic relations with its neighbors and partners.

Third, the development of BRICS+, or extended BRICS, including some members of the “new G8,†to be discussed at the upcoming summit in China.

There was hardly any doubt President Putin would be the star of St. Petersburg 2022, delivering a sharp, detailed speech to the plenary session.

Among the highlights, Putin smashed the illusions of the so-called ‘golden billion’ who live in the industrialized west (only 12 percent of the global population) and the “irresponsible macroeconomic policies of the G7 countries.â€

The Russian president noted how “EU losses due to sanctions against Russia†could exceed $400 billion per year, and that Europe’s high energy prices – something that actually started “in the third quarter of last year†– are due to “blindly believing in renewable sources.â€

He also duly dismissed the west’s ‘Putin price hike’ propaganda,

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