Read an article recently on Times of India on the latest ranking of top economies (countries) by GDP, adjusted to PPP, or purchasing power parity, sharing it here.
Top 10 Economies by GDP (PPP) in 2024:
China: $36.07 trillion United States: $27.96 trillion India: $13.46 trillion Japan: $6.24 trillion Germany: $5.44 trillion Russia: $4.83 trillion Indonesia: $4.51 trillion Brazil: $3.89 trillion United Kingdom: $3.74 trillion France: $3.71 trillion
The total of the top 10 above is around $110 trillion. This figure likely adheres to the 80/20 rule, whereby 80% of the world's goods and services comes from these countries.
It's interesting to note that 4 of the 5 original members of BRICS, the countries that represent The Global South, are on the list (except for South Africa), and their total is over half ($58.2 trillion) of the total, with Indonesia debating whether to join. If she does, that will add another $4.5 trillion to the growing BRICS Alliance.
I will be keeping an eye on the stablecoin developments of the world, and unless there is a massive destructive event that benefits one countries, as World War II did for the U.S., allowing it to cement the dollar as the global reserve currency, the countries of The Global South will likely consider Bitcoin as a currency on which to settle its transactions.
Why do you think BlackRock and Wall Street are piling into Bitcoin and cryptos? This is one possible reason. They know the dollar is on its way down, and money has no allegiance.
