this post was submitted on 08 Jul 2025
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the latest BRICS summit recently completed

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[–] Cowbee@lemmy.ml 10 points 2 weeks ago (1 children)

They don't, really. Russia has like 6 of the world's top 500 companies, it couldn't rely on the same financial expropriation even if it wanted to simply because it utterly lacks the financial capital to do so. China is a production-focused economy, and the large firms and key industries are state owned. Even if we took the ideological aspects of Marxism-Leninism completely out of the picture, China is more economically incentivized to build up multilateralism so it can sell its products to the global south, and not rely so much on the US to offload its production to, as the US is constantly unreliable due to it wanting more capital penetration into Chinese markets (which the state rejects).