New World Order, The Brics

[Hybrid Ambassador]

There is the IMF then there is the World bank, but now the new and emerging BRIC development bank. China and Russia the upcoming new world order.
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_The BRICS summit in northeast Brazil has already made history for one key reason; the creation of the New Development Bank.
Call it the Global South antidote to that structural adjustment racket, the IMF. Over and over again, BRICS member nations and others have insisted on an institutional IMF reform that would recognize the economic weight of the Global South. Reform packages have been languishing in the US Congress since 2010. And once again they were blocked last April.
The New Development Bank will be way more democratic than the US/EU-controlled IMF. Look at the funding; a flat $10 billion contribution by each member country. This means, sooner or later, that other developing nations will also join. I have called it casino capitalism versus a productive capitalism model._

http://rt.com/op-edge/173512-brics-summit-development-bank-imf/

 

[Matiasba]

such an interesting article

I said the exact same thing here of the (financial) casino capitalism vs a productive model.

 

[ghost]

Blah, Blah, and Blah. Nice idea. Is it additive and progressive or is it us or them. I think the later and it will fail.
Ole Pepe Escobar is eating his hat in light of what is happening in the Ukraine today. So is Putin.

 

[ElQueso]

I have to say, I don't like "the West's" attempts to force things economically to benefit themselves. I never have, once I "grew up" and started reading and understanding how the "world" actually works.

But do people really think things will be better under a Russia/China-driven plan as well? Are people really naive enough to think that this will do anything other than "polarize" the world? "The Global South" is way under-developed, for sure. All of the things the BRIC meeting talked about resolving - it's easy to say "we support this, and that, and the other thing" and make everyone feel all warm and cozy. But with both Russia and China backing this - really? Global inclusion, cooperation and mutual respect? And how are they going to bring peace to Israel and Palestine (and I would hope the whole of the middle east)? With words alone? No military intervention or sanctions? I agree that these don't particularly work either, but I'd sure like to know how they plan on doing it, apart from words.

I despise how the US and the EU control world banking at this point in history. I despise military and economic intervention. I've long said the US needs to break up into smaller countries both for the good of the world and the people of the US. I believe the same thing should be said of the EU. I don't like huge monolithic blocks that affect things globally so much. And all the money wasted in the US trying to keep us as the "top dog" with lots of special benefits that go along with it.

Neither China nor Russia is altruistic, no more than the US nor the EU. If one thinks they aren't looking at taking advantage of the "the Global South's" potential and how it can benefit them, one is naive, in my opinion.

I don't have the answers, but I don't see this being an answer either, just something to oppose "the West" which will be no better, and probably even worse, to those nations who haven't managed to get their own houses in order. Just "another side" to take advantage of those who are already being taken advantage of.

 

[Matiasba]

Elqueso, the key to understand this is that we have now, or in the near future, a multipolar world, that means, not one empire everywhere controlling everything. We will still have de US and EU, but will also have Brazil, Russia, China, India, etc, and not acting toghether necesarily!! there will be more balance, of course nobody is altruistic, no one believe in it in todays world, but because there are several powers, and not only one, there gonna be certain balance that we didnt have since WWII.

 

[EdRooney]

I'm usually a very staid eater and have no digestive problems whatsoever, but the other day when Captain Itchy said that BRICS (which includes India and South Africa, the world's top 2 neoliberal regimes) "represents the rejection of the Washington Consensus and Neoliberal policies" I laughed so hard that milk came out of my nose.

Hey, I think it's grand that the world is becoming less uni-polar, but to preach that the new conquerors will be any more benign than the previous ones is either pure delusion or evil demagoguery. Not exactly shocking coming from this gang, but still guffaw worthy nonetheless.

 

[Davidglen77]

I think it's great that the BRICS are forming their own bank and truly hope that it allows them to further develop their infrastructures and in turn promote human and economic development for their respective countries. What I find somewhat humorous is that Cristina thinks that because Brasil is "sister" country, they will lend her all of this money, no bank will lend "friends" money as banks are not in the business of losing money and having to chase after scofflaw governments to be repaid. While the BRICS bank certainly will be somewhat benevolent, unfortunately Argentina's track record has earned itself the denomination of being a "D" customer to any lending entity.

 

[Matiasba]

I'm usually a very staid eater and have no digestive problems whatsoever, but the other day when Captain Itchy said that BRICS (which includes India and South Africa, the world's top 2 neoliberal regimes) "represents the rejection of the Washington Consensus and Neoliberal policies" I laughed so hard that milk came out of my nose.

Hey, I think it's grand that the world is becoming less uni-polar, but to preach that the new conquerors will be any more benign than the previous ones is either pure delusion or evil demagoguery. Not exactly shocking coming from this gang, but still guffaw worthy nonetheless.

India from its brand new government its gonna make a very much market oriented policies, true, but its not there where the thing is. The thing is that they are all growing economies, with worlds biggest markets, with a lot of potential undevelopped, big percentage of worlds population... so its not important the political sign they have, thats secondary and IMHO sooner or later there will be nationalistics pro development, pro industrial policies (as oposed to Washington consensus policies)..

So yes its oposed to what Washington wanted, if its not now (which is arguable) it will be in the near future. In Latin America the Washington consensus was equal to not development, de-industrialisation, depressed economies, high unemployment rates... just produce to spill it over the international market, of course controlled by the US, without not caring of internal markets.... every economy (except US of course) focused in exports more than in imports.... I think the BRICS are there to fight agaisnt that and promote all these things.

And Im a little optimistic, not because I think these people is good, its just that as I said it will bring balance, instead of having a super power with 90% of resources, we will have 2 or 3 with 20-30% of resources, a much more plural picture, with a lot of political and econommic options to choose... Come on! they even talked of industrialise Africa, that could not have happened under the US UE regime...

 

[Matiasba]

I think it's great that the BRICS are forming their own bank and truly hope that it allows them to further develop their infrastructures and in turn promote human and economic development for their respective countries. What I find somewhat humorous is that Cristina thinks that because Brasil is "sister" country, they will lend her all of this money, no bank will lend "friends" money as banks are not in the business of losing money and having to chase after scofflaw governments to be repaid. While the BRICS bank certainly will be somewhat benevolent, unfortunately Argentina's track record has earned itself the denomination of being a "D" customer to any lending entity.

Sorry to disagree. When the efecto tequila the US lent Mexico 50 billion just to make them avoid what we had in 2001. That because of being their neighbours. Russia just cancelled a 35 billion debt from the USSR with Cuba. There are lots of examples. These things happend when they look at these as a long term investment, or mejor dicho, strategical moves.

 

[Rich One]

And Im a little optimistic, not because I think these people is good, its just that as I said it will bring balance, instead of having a super power with 90% of resources, we will have 2 or 3 with 20-30% of resources, a much more plural picture, with a lot of political and econommic options to choose... Come on! they even talked of industrialise Africa, that could not have happened under the US UE regime...

Hola Mati what power are you referring to that controls 90 % of the Resources Now ? (in the world ? or Argentina?)

Well Time will Tell,

Watching now on TV the signing of over 20 Trade/Cooperation agreements between China and Argentina seems like a Panacea. We are in good hands. Viva Xi Jinping The Messiah.

Is Red China still RED? The Communist Party is here today signing the Agreements, is this a new Order ? Is China a Democracy? These questions are for Mati?