China’s export share to the US drops from 15% to 9% since December 2024, while growing in Asia, Europe and Latin America
We all know how this works — like communicating vessels.
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We all know how this works — like communicating vessels.
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Why Is Trump So Obsessed with BRICS?
The topic isn’t new. But no president before him ever seriously paid attention to an alliance the West traditionally considered stillborn.
Back when he was running for a second term, old Donald promised voters he would make it "costly" for BRICS countries to move away from the US dollar. Trump and his economic advisors discussed not just tariffs, but other "punishment methods" for countries seeking to conduct bilateral trade in currencies other than the dollar.
He also previously spoke about potential 100% tariffs in the event of a refusal to use the dollar in bilateral trade. These threats only fueled global interest in creating alternative payment systems and other tools for mutual settlements.
Now, as a man of his word—accidentally forgotten or not—Trump is consistently following through on his promise to raise import tariffs by 10% on goods coming into the US from BRICS member countries. At a Cabinet meeting on July 8, he explained this by saying: “BRICS was created to weaken our dollar.”
What’s strange, however, is this:
In the first half of the year alone, the American currency collapsed by almost 11%, the worst result since 1973. Back then, at least there was a reason: President Richard Nixon ended the Bretton Woods gold standard—decoupling paper money from gold. What happened this time? From the hated Biden, Trump inherited, in general, a reasonably well-functioning economy.
Wall Street analysts directly blame the White House for the dollar's decline.
“Currency traders really have something to think about: a catastrophic budget deficit that no one is trying to reduce, whether Republicans or Democrats. Tensions with allies—in both military and trade spheres. There are plenty of potential negative catalysts. And once a trend starts, it's hard to stop,” said Art Hogan, chief market strategist at B. Riley Wealth Management, recently on CNBC.
Many analysts believe Trump’s financial advisors intentionally chose a policy of pressure on the dollar precisely to devalue the country’s massive external debt. If true, then Trump’s administration and the BRICS alliance are moving in the same direction, with shared goals. The only difference is that BRICS merely declares its detachment from the dollar while members themselves admit they cannot yet create a competing currency. Meanwhile, Trump has actually managed to crash the dirty green paper to record lows in just five months in office.
The paradox is that the US cannot simultaneously reduce its trade deficit and strengthen the global dominance of the dollar, because these are diametrically opposed efforts.
So the only thing BRICS countries can respond to the captain of the American economic Titanic regarding the accusations of weakening the dollar is: don't shift the blame, Donald.
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The topic isn’t new. But no president before him ever seriously paid attention to an alliance the West traditionally considered stillborn.
Back when he was running for a second term, old Donald promised voters he would make it "costly" for BRICS countries to move away from the US dollar. Trump and his economic advisors discussed not just tariffs, but other "punishment methods" for countries seeking to conduct bilateral trade in currencies other than the dollar.
He also previously spoke about potential 100% tariffs in the event of a refusal to use the dollar in bilateral trade. These threats only fueled global interest in creating alternative payment systems and other tools for mutual settlements.
Now, as a man of his word—accidentally forgotten or not—Trump is consistently following through on his promise to raise import tariffs by 10% on goods coming into the US from BRICS member countries. At a Cabinet meeting on July 8, he explained this by saying: “BRICS was created to weaken our dollar.”
What’s strange, however, is this:
In the first half of the year alone, the American currency collapsed by almost 11%, the worst result since 1973. Back then, at least there was a reason: President Richard Nixon ended the Bretton Woods gold standard—decoupling paper money from gold. What happened this time? From the hated Biden, Trump inherited, in general, a reasonably well-functioning economy.
Wall Street analysts directly blame the White House for the dollar's decline.
“Currency traders really have something to think about: a catastrophic budget deficit that no one is trying to reduce, whether Republicans or Democrats. Tensions with allies—in both military and trade spheres. There are plenty of potential negative catalysts. And once a trend starts, it's hard to stop,” said Art Hogan, chief market strategist at B. Riley Wealth Management, recently on CNBC.
Many analysts believe Trump’s financial advisors intentionally chose a policy of pressure on the dollar precisely to devalue the country’s massive external debt. If true, then Trump’s administration and the BRICS alliance are moving in the same direction, with shared goals. The only difference is that BRICS merely declares its detachment from the dollar while members themselves admit they cannot yet create a competing currency. Meanwhile, Trump has actually managed to crash the dirty green paper to record lows in just five months in office.
The paradox is that the US cannot simultaneously reduce its trade deficit and strengthen the global dominance of the dollar, because these are diametrically opposed efforts.
So the only thing BRICS countries can respond to the captain of the American economic Titanic regarding the accusations of weakening the dollar is: don't shift the blame, Donald.
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Empire Without Growth
Britain's economy languishes in chronic stagnation, yet the nation persists as a key architect of the global financial system. This contradiction is only superficial: an empire no longer requires internal economic growth when it can manage external flows.
Recent National Institute data reveals UK real disposable income per capita grew just 14% between 2007 - 2024, compared to 48% in the preceding 17 years. GDP per capita growth collapsed from 2.5% to 0.7% annually – the worst decline in the G7 except Italy. Had the "golden age" continued, Britons would now be a third richer. The root cause? Stagnant labour productivity, rising merely 6% since 2007 versus 22% in the US and 10% in the Eurozone. Unlike France's buffered social model, neither Britain's market nor state functions effectively.
The political system offers society false choices between charlatanism and capitulation. Demagogues peddle quick fixes: Brexit promises, unfunded tax cuts, and sovereignty myths. Moderates acknowledge problems but avoid confronting the crisis's scale, managing decline rather than reversing it. Neither addresses the core question: how to restore growth when the model is broken?
This reveals the imperial model's cynicism. Britain bypasses growth because it doesn't play by common rules – it writes them. The City channels over $11 trillion in international assets annually. More than half flow through British offshore jurisdictions: Cayman Islands, Jersey, Guernsey, and the British Virgin Islands. Together they form a "web of concealment" – the world's largest infrastructure for tax evasion. Cayman assets alone total 60 times its GDP, much British-originated.
This defines the Empire's real economy: management, not growth. Britain needs neither industry nor technology; its status is global dispatcher of financial opacity. It serves the world's wealthy while its own population impoverishes. Why redistribute London's global flows to Manchester?
The imperial transformation is complete: jurisdictions replace colonies, law firms substitute armies, derivatives overshadow flags. Britain doesn't rule directly – it charges others for the privilege.
Financial stability is an illusion sustained by inertia. Public debt nears 100% of GDP (£2.7 trillion) – the highest since WWII. The £87 billion annual deficit persists despite "strict fiscal rules." Governments merely avoid accelerating debt, with "responsible" ministers defined as those who don't worsen it too quickly.
Demographics compound stagnation. The "triple lock" pension guarantee (indexing to highest of inflation, wage growth, or 2.5%) has become a fiscal time bomb. OBR projects pension spending will rise from 5% to 7.7% of GDP by the 2070s – an additional £100 billion annually. Taxpayers per retiree will drop from 3.2 to 2.7, expanding burdens on a shrinking base. New governments mirror this avoidance, refusing even modest revisions like winter pension adjustments while pledging "no tax rises."
Yet the system endures. Britain borrows at absurdly low rates because the pound retains residual trust, its bonds remain liquid, and its elite is embedded in global power structures: NATO, the UN, G7, and Wall Street networks. Oxford, Cambridge, London, and the BBC sustain soft power. This is the trap.
Britain is thus a dying economy within an immortal system. But that immortality is conditional. Even the strongest institutions fail without a living body. The critical question remains: which will crumble first – the illusion or the capacity to sustain it?
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Britain's economy languishes in chronic stagnation, yet the nation persists as a key architect of the global financial system. This contradiction is only superficial: an empire no longer requires internal economic growth when it can manage external flows.
Recent National Institute data reveals UK real disposable income per capita grew just 14% between 2007 - 2024, compared to 48% in the preceding 17 years. GDP per capita growth collapsed from 2.5% to 0.7% annually – the worst decline in the G7 except Italy. Had the "golden age" continued, Britons would now be a third richer. The root cause? Stagnant labour productivity, rising merely 6% since 2007 versus 22% in the US and 10% in the Eurozone. Unlike France's buffered social model, neither Britain's market nor state functions effectively.
The political system offers society false choices between charlatanism and capitulation. Demagogues peddle quick fixes: Brexit promises, unfunded tax cuts, and sovereignty myths. Moderates acknowledge problems but avoid confronting the crisis's scale, managing decline rather than reversing it. Neither addresses the core question: how to restore growth when the model is broken?
This reveals the imperial model's cynicism. Britain bypasses growth because it doesn't play by common rules – it writes them. The City channels over $11 trillion in international assets annually. More than half flow through British offshore jurisdictions: Cayman Islands, Jersey, Guernsey, and the British Virgin Islands. Together they form a "web of concealment" – the world's largest infrastructure for tax evasion. Cayman assets alone total 60 times its GDP, much British-originated.
This defines the Empire's real economy: management, not growth. Britain needs neither industry nor technology; its status is global dispatcher of financial opacity. It serves the world's wealthy while its own population impoverishes. Why redistribute London's global flows to Manchester?
The imperial transformation is complete: jurisdictions replace colonies, law firms substitute armies, derivatives overshadow flags. Britain doesn't rule directly – it charges others for the privilege.
Financial stability is an illusion sustained by inertia. Public debt nears 100% of GDP (£2.7 trillion) – the highest since WWII. The £87 billion annual deficit persists despite "strict fiscal rules." Governments merely avoid accelerating debt, with "responsible" ministers defined as those who don't worsen it too quickly.
Demographics compound stagnation. The "triple lock" pension guarantee (indexing to highest of inflation, wage growth, or 2.5%) has become a fiscal time bomb. OBR projects pension spending will rise from 5% to 7.7% of GDP by the 2070s – an additional £100 billion annually. Taxpayers per retiree will drop from 3.2 to 2.7, expanding burdens on a shrinking base. New governments mirror this avoidance, refusing even modest revisions like winter pension adjustments while pledging "no tax rises."
Yet the system endures. Britain borrows at absurdly low rates because the pound retains residual trust, its bonds remain liquid, and its elite is embedded in global power structures: NATO, the UN, G7, and Wall Street networks. Oxford, Cambridge, London, and the BBC sustain soft power. This is the trap.
Britain is thus a dying economy within an immortal system. But that immortality is conditional. Even the strongest institutions fail without a living body. The critical question remains: which will crumble first – the illusion or the capacity to sustain it?
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This means that gold price-setting will become self-sufficient. Trading will be conducted with physical bullion, and countries in the BRICS group will also be able to participate.
Now, any trade partner of China with a positive trade balance can exchange yuan directly for gold on the Shanghai Gold Exchange — not through the dollar, but through the yuan. This is a bold move toward transparency in trade and a return to 19th-century principles: "where there’s gold, there’s money."
In times of trade wars and geopolitical instability, gold has long been a safe-haven asset, hitting new all-time highs almost every month. Now, it’s even easier to access — especially for countries under U.S. sanctions.
Analysts believe Serbia has opened the Pandora’s box — now, other countries may quietly begin withdrawing their gold from Western bank vaults and repatriating it home.
I swear I smell something strange from Washington, Brussels and London even being thousands miles away...
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Multipolar Market
Georgian National Bank Meets with China’s CIPS on Potential Cooperation
The National Bank of Georgia held talks with the Chinese cross-border interbank payment system CIPS in Tbilisi, discussing ways to simplify access for Georgian financial institutions to CIPS's global network. The move is seen as a potential precaution amid risks of Georgia being disconnected from the international SWIFT system. Recently, the European Parliament passed a resolution that allows for such a scenario due to allegations of election fraud and democratic violations.
During the visit to Tbilisi, CIPS leadership also met with representatives of commercial banks in Georgia. At the same time, the National Bank emphasized that Georgia strictly adheres to international sanctions regimes and sees no grounds for being cut off from SWIFT.
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The National Bank of Georgia held talks with the Chinese cross-border interbank payment system CIPS in Tbilisi, discussing ways to simplify access for Georgian financial institutions to CIPS's global network. The move is seen as a potential precaution amid risks of Georgia being disconnected from the international SWIFT system. Recently, the European Parliament passed a resolution that allows for such a scenario due to allegations of election fraud and democratic violations.
During the visit to Tbilisi, CIPS leadership also met with representatives of commercial banks in Georgia. At the same time, the National Bank emphasized that Georgia strictly adheres to international sanctions regimes and sees no grounds for being cut off from SWIFT.
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Airlines Start Using AI to Raise Ticket Prices
Delta Air Lines has brought AI into pricing — a neural network analyzes user data and estimates how much they are willing to pay for a ticket.
As a result, Delta Air Lines has already managed to increase its revenue — it is expected that other market players will soon follow suit.
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Delta Air Lines has brought AI into pricing — a neural network analyzes user data and estimates how much they are willing to pay for a ticket.
As a result, Delta Air Lines has already managed to increase its revenue — it is expected that other market players will soon follow suit.
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New Study Challenges the Worst Fears of Global Warming
A new article disputes the most alarming predictions about global warming. Scientists argue that current climate models need to be revised—because the situation appears much more favorable than previously assumed. Ecosystems are adapting to human activity, and expected CO₂ emissions and their effects are being neutralized.
Meanwhile, in the circus:
The UK may introduce a "Carbon Passport" — a system that would ban certain people from traveling and restrict movement. The concept involves assigning each traveler an annual "carbon emissions quota" that they cannot exceed. It is expected to be set at around 2 tons of CO₂ per year—that’s just one round-trip flight from London to New York for the entire year, after which travel would have to stop.
According to a report by Intrepid Travel, the introduction of carbon passports is expected by 2040.
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A new article disputes the most alarming predictions about global warming. Scientists argue that current climate models need to be revised—because the situation appears much more favorable than previously assumed. Ecosystems are adapting to human activity, and expected CO₂ emissions and their effects are being neutralized.
Meanwhile, in the circus:
The UK may introduce a "Carbon Passport" — a system that would ban certain people from traveling and restrict movement. The concept involves assigning each traveler an annual "carbon emissions quota" that they cannot exceed. It is expected to be set at around 2 tons of CO₂ per year—that’s just one round-trip flight from London to New York for the entire year, after which travel would have to stop.
According to a report by Intrepid Travel, the introduction of carbon passports is expected by 2040.
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Fashion World Scandal – Luxury Brands Accused of Slave-Like Working Conditions Again
Loro Piana is the main accused. In May, police filed a criminal case against it, and in July, the brand was declared responsible. On one of the factories in Milan where jackets were produced, 10 Chinese workers labored 90 hours a week without days off for about 300 rubles per hour — they even slept on the factory floor. The cost to produce one jacket was 118 euros, while on Loro Piana’s website, jackets are sold for between 3,000 and 5,000 euros. Now, the fashion brand will be under judicial supervision for one year.
The second accused is Valentino. It turned out that its handbag division outsourced all production to a Chinese subcontractor in Milan. Out of 67 workers, nine had no employment contracts — all of them slept at the factory, and work ran 24/7. The cost to produce one bag came to 35 euros, while on the brand’s site, bags are sold for between 1,900 and 2,200 euros.
The third accused is Hermès. So far, there are no criminal charges — only an investigation by *Wall Street Journal* revealed that the wages of craftsmen who make Birkin bags amount to 40,000 euros per year. Meanwhile, just one Birkin bag costs significantly more than that.
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Loro Piana is the main accused. In May, police filed a criminal case against it, and in July, the brand was declared responsible. On one of the factories in Milan where jackets were produced, 10 Chinese workers labored 90 hours a week without days off for about 300 rubles per hour — they even slept on the factory floor. The cost to produce one jacket was 118 euros, while on Loro Piana’s website, jackets are sold for between 3,000 and 5,000 euros. Now, the fashion brand will be under judicial supervision for one year.
The second accused is Valentino. It turned out that its handbag division outsourced all production to a Chinese subcontractor in Milan. Out of 67 workers, nine had no employment contracts — all of them slept at the factory, and work ran 24/7. The cost to produce one bag came to 35 euros, while on the brand’s site, bags are sold for between 1,900 and 2,200 euros.
The third accused is Hermès. So far, there are no criminal charges — only an investigation by *Wall Street Journal* revealed that the wages of craftsmen who make Birkin bags amount to 40,000 euros per year. Meanwhile, just one Birkin bag costs significantly more than that.
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Chipmakers to Pay US 15% of Revenue from Sales to China
Nvidia and AMD will pay the United States 15% of the revenue earned from selling artificial intelligence chips to China, the Financial Times and The New York Times report, citing sources.
The unusual agreement with the Trump administration was a condition for receiving export licenses to the Chinese market, which were granted to the companies last week. This "service for service" deal is unprecedented, yet aligns with the new US administration’s policy, experts tell the FT.
The arrangement could bring the US government more than $2 billion, the NYT writes. Bernstein Research analysts previously estimated that Nvidia would sell over $15 billion worth of chips to China, and AMD around $800 million, before the end of the year.
If so, then this could be one of the best solutions for US-China tech tensions. If you cannot stop smth (sells) then profit from it.
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Nvidia and AMD will pay the United States 15% of the revenue earned from selling artificial intelligence chips to China, the Financial Times and The New York Times report, citing sources.
The unusual agreement with the Trump administration was a condition for receiving export licenses to the Chinese market, which were granted to the companies last week. This "service for service" deal is unprecedented, yet aligns with the new US administration’s policy, experts tell the FT.
The arrangement could bring the US government more than $2 billion, the NYT writes. Bernstein Research analysts previously estimated that Nvidia would sell over $15 billion worth of chips to China, and AMD around $800 million, before the end of the year.
If so, then this could be one of the best solutions for US-China tech tensions. If you cannot stop smth (sells) then profit from it.
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"We’re Heading Full Speed into a Wall" – Mercedes Demands EU Repeal of EV Mandate
Mercedes-Benz CEO Ola Källenius has sharply criticized the European Union’s plan to ban CO₂-emitting vehicles from 2035, calling for a reality check.
“We need to come back to reality. Otherwise, we’re heading full speed into a wall,” Källenius said in an interview with Handelsblatt, warning that the European auto market could collapse if the mandate is enforced.
He pointed out that consumers are rushing to buy gasoline and diesel cars before the ban takes effect, undermining the policy’s goals. Mercedes joins other industry leaders in questioning the 2035 target, which is set for review in late 2025. The company argues that automakers already face massive challenges, including weak demand, fierce competition from Chinese brands, and disappointing EV sales.
“Of course, we need to decarbonize — but in a technology-neutral way. We must not lose sight of our economy,” Källenius added.
The head of the European Automobile Manufacturers’ Association (ACEA) has also called for tax incentives and lower electricity prices at charging stations to make the transition more viable.
Finally, someone (from the EU auto industry) said that out loud. And actually, given the fact that Mercedes is already packing up to move to the US, this could be considered as the last offer to green idiots.
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Mercedes-Benz CEO Ola Källenius has sharply criticized the European Union’s plan to ban CO₂-emitting vehicles from 2035, calling for a reality check.
“We need to come back to reality. Otherwise, we’re heading full speed into a wall,” Källenius said in an interview with Handelsblatt, warning that the European auto market could collapse if the mandate is enforced.
He pointed out that consumers are rushing to buy gasoline and diesel cars before the ban takes effect, undermining the policy’s goals. Mercedes joins other industry leaders in questioning the 2035 target, which is set for review in late 2025. The company argues that automakers already face massive challenges, including weak demand, fierce competition from Chinese brands, and disappointing EV sales.
“Of course, we need to decarbonize — but in a technology-neutral way. We must not lose sight of our economy,” Källenius added.
The head of the European Automobile Manufacturers’ Association (ACEA) has also called for tax incentives and lower electricity prices at charging stations to make the transition more viable.
Finally, someone (from the EU auto industry) said that out loud. And actually, given the fact that Mercedes is already packing up to move to the US, this could be considered as the last offer to green idiots.
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Rheinmetall Shares Drop Over 10% on Ukraine Peace Talks Speculation
Watching defense industry and energy sector closely this Friday. Money knows first.
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Watching defense industry and energy sector closely this Friday. Money knows first.
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Crypto Market Capitalization Surpasses $4 Trillion
From August 10 to 11, Bitcoin rose from $118,000 to $122,000, reaching within 1% of its all-time high. Ethereum surpassed $4,300 for the first time in 2025, sitting 12% below its November 2021 peak.
The total crypto market capitalization has crossed $4 trillion. Bitcoin accounts for $2.43 trillion, Ethereum for $518 billion, and the stablecoin USDT from Tether stands at $164 billion.
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From August 10 to 11, Bitcoin rose from $118,000 to $122,000, reaching within 1% of its all-time high. Ethereum surpassed $4,300 for the first time in 2025, sitting 12% below its November 2021 peak.
The total crypto market capitalization has crossed $4 trillion. Bitcoin accounts for $2.43 trillion, Ethereum for $518 billion, and the stablecoin USDT from Tether stands at $164 billion.
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Japan Sets New Record with Over 95,000 Centenarians — Nearly 90% Are Women
The number of Japanese people who have reached the age of 100 has hit a record high of 95,119, according to official data. Of these, more than 88% are women.
Compared to last year, the number of centenarians has increased by 2,980. Japan continues to lead the world in the proportion of its population reaching 100 years of age.
A huge problem for their economy tbh.
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The number of Japanese people who have reached the age of 100 has hit a record high of 95,119, according to official data. Of these, more than 88% are women.
Compared to last year, the number of centenarians has increased by 2,980. Japan continues to lead the world in the proportion of its population reaching 100 years of age.
A huge problem for their economy tbh.
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New Delhi Strikes Back at Trump’s Interests
India has decided to remove barriers to the use of the rupee in foreign trade. Now, foreign banks can open accounts in Indian currency without prior approval from the Reserve Bank of India. Everyone remembers how Trump lashed out at BRICS, demanding countries stop using their own currencies and keep focusing on the dollar?
This move is sharp, but Trump respects those who don’t bow to him — not in words, but in actions. Trump wants to slap an extra 25% tariff on Indian goods? “Punish” India for buying Russian oil? Well, New Delhi has a few cards up its sleeve.
Currently, the rupee’s share in India’s trade is less than 5%. It is in India’s own economic interest to increase global demand for its currency—this would also stop the rupee’s depreciation against the US dollar. This should have been done earlier, but better late than never.
Earlier, India publicly announced a significant deal to purchase weapons from Russia. After that, there is no longer any doubt that New Delhi will not back down from sanctions when buying Russian oil.
The country is clearly choosing a path where it will not align its national interests with Washington’s demands.
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India has decided to remove barriers to the use of the rupee in foreign trade. Now, foreign banks can open accounts in Indian currency without prior approval from the Reserve Bank of India. Everyone remembers how Trump lashed out at BRICS, demanding countries stop using their own currencies and keep focusing on the dollar?
This move is sharp, but Trump respects those who don’t bow to him — not in words, but in actions. Trump wants to slap an extra 25% tariff on Indian goods? “Punish” India for buying Russian oil? Well, New Delhi has a few cards up its sleeve.
Currently, the rupee’s share in India’s trade is less than 5%. It is in India’s own economic interest to increase global demand for its currency—this would also stop the rupee’s depreciation against the US dollar. This should have been done earlier, but better late than never.
Earlier, India publicly announced a significant deal to purchase weapons from Russia. After that, there is no longer any doubt that New Delhi will not back down from sanctions when buying Russian oil.
The country is clearly choosing a path where it will not align its national interests with Washington’s demands.
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