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MainNewsBRICS: JPMor...

BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’


BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’
May, 23, 2024
2 min read
by Watcher.Guru
BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’

Amid the BRICS bloc’s development over the last several years, JPMorgan Chase has said that the alliance’s economic growth “can’t be ignored.” Indeed, the bank’s Asia Pacific CEO, Sjoerd Leenart, has recently discussed the economic development of China and its overarching impact on global economics.

Leenart referenced China as an economic powerhouse whose importance to global finance was an unavoidable reality. With India’s global GDP set to continue ascending over the next several years, the alliance is in a prime position to continue establishing its strength within the international finance arena.

china asian leaders brics countries flags
Source: Reuters

Also Read: 3 Ways BRICS Currency Will Affect the U.S. Dollar

JPMorgan Lauds BRICS Economic Status as Global Power

Over the last several years, the geopolitical realm has seen an undeniable ascension of the BRICS economic alliance. Facilitated by the weaponization of the US dollar enacted in 2022, the bloc embraced unilateral relations to improve its economic hegemony. Meanwhile, it integrated de-dollarization initiatives to further institute change amid the global hierarchy. Therefore, reinforcing its seeking to procure a path to a multipolar world.

Those efforts were only magnified last year when the alliance welcomed five countries into the fold. The collective’s first expansion effort since 2001, the bloc embraces greater power in vital sectors like oil and overall exports. Now, there is a clear indication of a shifting global status amid the current world order.

With those BRICS developments taking place, the JPMorgan Asia Pacific CEO has noted the alliance growth “can’t be ignored.” Speaking to CNBC, Sjoerd Leenart discussed China’s ascension specifically, and its development into an undeniable global juggernaut.

putin xi modi russia india china brics
Source: Flickr

Also Read: BRICS Announce Even More De-Dollarization to Come in 2024

“You can’t ignore it; you have to do business there. Even if you decide not to do business there, you still need to understand what’s going on,” Leenart said. Furthermore, he noted the country’s ability to influence, “every industry around the world.”

China is not the only alliance member with tremendous growth prospects. Indeed, India is expected to enter the top 3 global economies by the year 2028. That development will see the BRICs bloc lead those three nations, with China and India joined by the United States.

Moreover, the latter is facing its own set of issues. The US is contending with increasing inflation, and although that is certainly a global issue, the debt figures have made the economic fragility undeniable. JPMorgan CEO Jamie Dimon recently expressed his expectation of a hard landing for the US, while also speaking of China’s immense growth prospects.

Read the article at Watcher.Guru

Read More

BRICS: 2 New Countries Announce Plans to Join the Alliance

BRICS: 2 New Countries Announce Plans to Join the Alliance

With the BRICS bloc set to expand its membership at its upcoming annual summit, two n...
Jun, 17, 2024
2 min read
by Watcher.Guru
U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

Mining stocks outperformed bitcoin in the first half of the month as investors reacte...
Jun, 17, 2024
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MainNewsBRICS: JPMor...

BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’


BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’
May, 23, 2024
2 min read
by Watcher.Guru
BRICS: JPMorgan Says Alliance Growth ‘Can’t be Ignored’

Amid the BRICS bloc’s development over the last several years, JPMorgan Chase has said that the alliance’s economic growth “can’t be ignored.” Indeed, the bank’s Asia Pacific CEO, Sjoerd Leenart, has recently discussed the economic development of China and its overarching impact on global economics.

Leenart referenced China as an economic powerhouse whose importance to global finance was an unavoidable reality. With India’s global GDP set to continue ascending over the next several years, the alliance is in a prime position to continue establishing its strength within the international finance arena.

china asian leaders brics countries flags
Source: Reuters

Also Read: 3 Ways BRICS Currency Will Affect the U.S. Dollar

JPMorgan Lauds BRICS Economic Status as Global Power

Over the last several years, the geopolitical realm has seen an undeniable ascension of the BRICS economic alliance. Facilitated by the weaponization of the US dollar enacted in 2022, the bloc embraced unilateral relations to improve its economic hegemony. Meanwhile, it integrated de-dollarization initiatives to further institute change amid the global hierarchy. Therefore, reinforcing its seeking to procure a path to a multipolar world.

Those efforts were only magnified last year when the alliance welcomed five countries into the fold. The collective’s first expansion effort since 2001, the bloc embraces greater power in vital sectors like oil and overall exports. Now, there is a clear indication of a shifting global status amid the current world order.

With those BRICS developments taking place, the JPMorgan Asia Pacific CEO has noted the alliance growth “can’t be ignored.” Speaking to CNBC, Sjoerd Leenart discussed China’s ascension specifically, and its development into an undeniable global juggernaut.

putin xi modi russia india china brics
Source: Flickr

Also Read: BRICS Announce Even More De-Dollarization to Come in 2024

“You can’t ignore it; you have to do business there. Even if you decide not to do business there, you still need to understand what’s going on,” Leenart said. Furthermore, he noted the country’s ability to influence, “every industry around the world.”

China is not the only alliance member with tremendous growth prospects. Indeed, India is expected to enter the top 3 global economies by the year 2028. That development will see the BRICs bloc lead those three nations, with China and India joined by the United States.

Moreover, the latter is facing its own set of issues. The US is contending with increasing inflation, and although that is certainly a global issue, the debt figures have made the economic fragility undeniable. JPMorgan CEO Jamie Dimon recently expressed his expectation of a hard landing for the US, while also speaking of China’s immense growth prospects.

Read the article at Watcher.Guru

Read More

BRICS: 2 New Countries Announce Plans to Join the Alliance

BRICS: 2 New Countries Announce Plans to Join the Alliance

With the BRICS bloc set to expand its membership at its upcoming annual summit, two n...
Jun, 17, 2024
2 min read
by Watcher.Guru
U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

Mining stocks outperformed bitcoin in the first half of the month as investors reacte...
Jun, 17, 2024
by CoinDesk