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☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 2 years ago

De-dollarization: Egypt drubs dollar in trade with BRICS nations

www.firstpost.com

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De-dollarization: Egypt drubs dollar in trade with BRICS nations

www.firstpost.com

☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 2 years ago
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Egypt now seeks to use local currencies to pay for its imports from India, China, and Russia – key members of the BRICS
  • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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    2 years ago

    Capitalism has done no such thing:

    If we take just one country, China, out of the global poverty equation, then even under the $1.90 poverty standard we find that the extreme poverty headcount is the exact same as it was in 1981.

    The $1.90/day (2011 PPP) line is not an adequate or in any way satisfactory level of consumption; it is explicitly an extreme measure. Some analysts suggest that around $7.40/day is the minimum necessary to achieve good nutrition and normal life expectancy, while others propose we use the US poverty line, which is $15.

    In fact, capitalism is responsible for some of the worst crimes against humanity in history and is currently destroying our ecosystem at a planetary scale. You should also learn the difference between correlation and causation if you think that technology is developed as a result of capitalism.

    • Bernie Ecclestoned@sh.itjust.works
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      2 years ago

      Humans are responsible for crimes, not capitalism…

      Technology, specifically the computer and the internet came as a direct result of the industrial revolution and the scientific method.

      Babbage, Lovelace, Turing, Berners Lee.

      • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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        2 years ago

        No, capitalist ideology that necessitates constant growth and capitalism is directly responsible for setting the conditions for how humans behave. Meanwhile, technology develops much faster outside capitalism as USSR has shown where nearly a century of capitalist progress was accomplished in mere decades with USSR going from an agrarian society at the time of the revolution to being the first in space.

        • Bernie Ecclestoned@sh.itjust.works
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          2 years ago

          Lol, the Soviet Union collapsed. How can you claim it was successful?

          Capitalism isn’t an ideology, it’s a tool. The Nordic model is the best example of using the market and social policies

          • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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            2 years ago

            Plenty of capitalist countries collapse, every single human society has collapsed sooner or later. You’re living in a collapsing society right now. The actual question is how well the country manages to meet the needs of its population while the system works, and USSR did a far better job meeting the needs of its people than capitalists states today can manage. USSR eliminated things like homelessness, and ensured everyone had their basic needs met. This is evidently an impossible task under capitalism. And of course, today China is the biggest growing economy that’s lifted over a billion people out of poverty. One has to be an utter ignoramus to think that communism does not work.

            Meanwhile, communism is an economic tool just the same way capitalism is, however it’s pretty obvious that both economic systems require an ideology to function. The nordic model is the best example of Europeans plundering the rest of the world to subsidize their lifestyle.

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