Can the Brics Create a New World Order?

Simon Tisdall – The Guardian

March 29, 2012

Today’s one-day annual summit of the so-called Brics countries – Brazil, Russia, India, China and South Africa – has received scant attention in the west. That may be because the grouping has achieved little in concrete terms since its inception in 2009. Critics deride it as a photo-op and talking shop.

But this neglect, or disdain, may also reflect the fact that the Brics, representing almost half the world’s population and about one-fifth of global economic output, pose an unwelcome challenge to the established world order as defined by the US-dominated UN security council, the IMF and the World Bank. The truth of the matter probably lies somewhere in-between. The five national leaders – presidents Dilma Rousseff of Brazil, Dmitri Medvedev of Russia, Hu Jintao of China and Jacob Zuma of South Africa and their…

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2 Responses to

  1. […] Can the Brics Create a New World Order? ( […]

  2. What about the agreement in New Delhi to conduct trade among the BRICS countries in their own currencies, a move that was aimed at boosting trade among the five countries and reducing the BRICS dependency on the U.S. Dollar? How might this impact the US?

    For an possible answer to that question, according to, “The demise of the dollar will also bring radical changes to the American lifestyle. When this economic tsunami hits America, it will make the 2008 recession and its aftermath look like no more than a slight bump in the road. It will bring very undesirable changes to the American lifestyle through:

    1. massive inflation,

    2. high interest rates on mortgages and cars,

    3. substantial increases in the cost of food, clothing and gasoline and*

    4. the U.S. government is going to have a much harder time financing its debt. Right now, there is a huge demand for U.S. dollars and for U.S. government debt since countries around the world have to keep huge reserves of U.S. currency lying around for the sake of international trade but what if… the appetite for U.S. dollars and U.S. debt dried up dramatically? That is something to think about.”


    You may also be interested in the seven-part series I posted on “The Economic Health of BRICS”, which compares these five nations with America and Europe.

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