BRICS

Economic Growth In G7 Versus Brics: A Reality Check

September 11, 2023 Richard D. Wolff, NewsClick. Educate! BRICS, G7, Global Economy, Multipolar World

In the United Kingdom, the BBC prepared and published data from the International Monetary Fund (IMF) in January about different nations’ growth forecasts for 2023 and 2024. The BBC foregrounded some really bad news for the UK. Of nine major industrial economies—the G7 (the US, Canada, Japan, Germany, the UK, France, and Canada), plus Russia, and China—the UK would be the only one to suffer real economic decline: a contraction in its 2023 GDP (its total annual, national output of goods and services). So dubious a distinction for the UK followed the long political night of rule by the Conservative Party. That night’s darker moments included austerity after the severe 2008-2009 global capitalist crash, scapegoating Europe for the UK’s economic troubles, Brexit taking place during the peak of that scapegoating, enjoyment of COVID cocktail parties by former Prime Minister Boris Johnson’s government that it prohibited for the British public, and endless, transparent, and cringeworthy lying to the public when caught and exposed.

Can BRICS Help Us Escape The West’s Hegemony And Contradictions?

September 6, 2023 Ramzy Baroud and Romana Rubeo, MintPress News. Educate! BRICS, Global Economy, Multipolar World, US Hegemony

At the zenith of the mass protests in Egypt on January 25, 2011, Twitter, Facebook and other Western-based social media platforms appeared to be the most essential tools for the Egyptian Revolution. Though some observers later contested the use of the terms ‘Twitter Revolution’ or ‘Social Media Revolution,’ one cannot deny the centrality of these platforms in the discussion around the events that attempted to redefine the power structures of Egypt. It was hardly a surprise that, on January 26, the Egyptian regime decided to block access to social media in a desperate attempt to prevent the spread of the protests.

1 January 2024, The World’s Centre Of Gravity Will Shift

September 1, 2023 Vijay Prashad, Tricontinental: Institute for Social Research. Educate! BRICS, De-dollarization, Global Economy, US Hegemony

On the last day of the BRICS summit in Johannesburg, South Africa, the five founding states (Brazil, Russia, India, China, and South Africa) welcomed six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). The BRICS partnership now encompasses 47.3 percent of the world’s population, with a combined global Gross Domestic Product (by purchasing power parity, or PPP,) of 36.4 percent. In comparison, though the G7 states (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) account for merely 10 percent of the world’s population, their share of the global GDP (by PPP) is 30.4 percent.

BRICS Becoming Economic Powerhouse: Petrodollar Under Threat

August 31, 2023 Ben Norton, Geopolitical Economy. Resistance Report Argentina, Brazil, BRICS, China, Cuba, Global Economy, South Africa

In its summit in Johannesburg, South Africa this August, BRICS invited six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The bloc now represents 37% of global GDP (measured at purchasing power parity, or PPP), as well as 40% of global oil production and roughly 1/3rd of global gas production. The inclusion of top oil producers like Saudi Arabia and the UAE, which have long priced their crude in dollars, is a direct challenge to the US petrodollar system. All of the invited nations have indicated that they will officially join the extended BRICS+ bloc on 1 January 2024.

Victoria Nuland Appeared ‘Desperate’ During Africa Tour

August 30, 2023 Anya Parampil, The Grayzone. Educate! Africa, BRICS, Burkina Faso, Coups, Mali, Multipolarity, Niger, South Africa, US Imperialism, Victoria Nuland

When US Acting Deputy Secretary of State, Victoria Nuland, traveled to South Africa on July 29, her reputation as a blunt instrument of Washington’s hegemonic interests preceded her. According to a veteran South African official who attended meetings with the senior US diplomat in Pretoria, however, Nuland and her team were demonstrably unprepared to grapple with recent developments on the African continent — particularly the military coup that removed Niger’s pro-Western government hours before she launched her multi-stop tour of the region. “In over 20 years working with the Americans, I have never seen them so desperate,” the official told The Grayzone, speaking on the condition of anonymity.

‘It’s All Top-Down’: Activists Hammer BRICS On Human Rights, Environment

August 26, 2023 Naledi Sikhakhane, Daily Maverick. Resist! BRICS, Environment, Grassroots, Human Rights

Speakers at civil society’s BRICS-from-below dialogues, which preceded a protest march against wars, human rights violations, inequality and climate change, highlighted problematic methods of governance that suppress working-class people. From India violating human rights in Kashmir and Russia invading Ukraine, to China funding fossil fuel projects across Africa, the BRICS bloc leaves activists with much to be desired. They suggest that the bloc upholds the current world order instead of creating a new citizen-friendly world order. Makhadzi Tshivuwa is an heir to the land where the Musina-Makhado Special Economic Zone (MMSEZ) is being developed.

BRICS Calls For Economic Decision Making In The Interest Of The Majority

August 24, 2023 Abdul Rahman, People's Dispatch. Educate! Africa, BRICS, China, De-dollarization, Global South, IMF, New Development Bank (NDB), Sanctions, Structural Adjustment, World Bank

The first day of the BRICS summit in Johannesburg saw calls for a more democratic global economic order with greater participation of countries from the Global South. South African President Cyril Ramaphosa set the tone by underlining that BRICS stands for inclusiveness and transparency in its development agenda and must continue to do so. Speaking on the second day, Indian Prime Minister Narendra Modi also said that India fully supports the expansion of the bloc, adding that it welcomed “moving forward with consensus on this.” India also reiterated its proposal for the African Union’s membership in the G20.

Can BRICS Lead A Wave Of Assertion From The Global South?

August 22, 2023 Marco Fernandes, People's Dispatch. Strategize! Africa, BRICS, Global South, South Africa

In recent days, a series of articles in the mainstream Western media have clearly demonstrated the concern of Western powers about the possible growth of the BRICS bloc, which over 20 more countries are interested in joining. Reuters, citing anonymous sources in the Brazilian Foreign Ministry, said that Brasilia would oppose the expansion and that Indian Prime Minister Narendra Modi would not attend the summit. A couple of days after the Reuters article, Brazilian President Lula da Silva was emphatic in reaffirming his position in favor of expansion, and sources denied rumors that Modi would skip the meeting.

Dilemmas Of Humanity Conference Calls For Pan-African, Working Class Power

August 20, 2023 Tanupriya Singh, People's Dispatch. Strategize! Africa, BRICS, Class Struggle, Colonialism, Multipolarity, Neocolonialism, Pan Africanism, Sanctions, Socialism

The world’s attention will be on the city of Johannesburg next week as Brazil, Russia, India, China, and South Africa will convene the 15th annual BRICS Summit (August 22-24). Organized under the banner of “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism,” this year’s conference could potentially usher in a new era of cooperation among the global South. Over 40 countries have expressed their interest in joining BRICS, including 23 countries that have officially applied for membership. Meanwhile, leaders from 71 countries across the Global South have been invited to participate in the upcoming conference’s dialogues.

The BRICS Have Changed The Balance Of Forces

August 18, 2023 Vijay Prashad, Tricontinental: Institute for Social Research. Educate! BRICS, Global Economy, Global South, neo-colonialism

In 2003, high officials from Brazil, India, and South Africa met in Mexico to discuss their mutual interests in the trade of pharmaceutical drugs. India was and is one of the world’s largest producers of various drugs, including those used to treat HIV-AIDS; Brazil and South Africa were both in need of affordable drugs for patients infected with HIV as well as a host of other treatable ailments. But these three countries were barred from easily trading with each other because of strict intellectual property laws established by the World Trade Organisation. Just a few months prior to their meeting, the three countries formed a grouping, known as IBSA.

Rumors Over BRICS Summit Point To West’s Paranoia

August 15, 2023 M. K. Bhadrakumar, Consortium News. Educate! BRICS, China, India, Russia, South Africa, Ukraine

Reuters carried a speculative report earlier this month (reversed the next day) that Indian Prime Minister Narendra Modi might not attend the BRICS summit in Johannesburg in person and furthermore that India disfavoured an expansion of the grouping. Reuters’ long history of cold war skulduggery notwithstanding, the gullible Indian media fell for the rumour mongering. It created some confusion, but only momentarily. South Africa is conscious that, with the state of play in its bilateral ties with the U.S. being what it is, President Cyril Rampaphosa’s excellent personal relations with Russian President Vladimir Putin, BRICS’ sojourn on the ‘de-dollarisation’ pathway and its expansion plans, there are high expectations of Modi’s constructive role.

Second Russia-Africa Summit Ends With Commitments Towards Cooperation

August 1, 2023 Tanupriya Singh, People's Dispatch. Organize! Africa, African Union, BRICS, De-dollarization, New Development Bank (NDB), Russia, Russia-Africa Summit, Ukraine, Vladimir Putin

The second Russia-Africa Summit For Peace, Security, and Development concluded in the Russian city of St. Petersburg on July 28. The two-day meet was attended by official delegations from 49 African countries and included 17 heads of state. The summit yielded various agreements and a joint declaration for cooperation on issues including security, trade, energy, and climate change. “All our states confirmed their commitment to the formation of a fair and democratic multipolar world order based on the universally recognized principles of international law and the UN Charter,” Russian President Vladimir Putin said in a press statement after the conclusion of the summit.

Lula And Xi Jinping Pave The Way For Trade De-Dollarization

July 24, 2023 Mauricio Becerra Rebolledo, Orinoco Tribune. Educate! Brazil, BRICS, China, De-dollarization, Trade, US Dollar, Western Hegemony

In September 2006, at the UN General Assembly, the foreign ministers of Brazil, China, Russia and India began to outline what would become a major trade and monetary support agreement. In 2010, during a meeting of the presidents of these countries in Brasilia and a year later in China, what is now known as the BRICS was ratified and began to take shape, with South Africa joining the group. Initially the BRICS countries showed their willingness to engage in closer dialogue with each other, but over the years the agenda began to include broader international cooperation and, above all, economic and financial partnerships in strategic sectors such as energy, agriculture, and scientific and technological development.

The Inevitable De-dollarization

July 17, 2023 By Sergio Rodríguez Gelfenstein, Orinoco Tribune. Educate! Alternative Currency, BRICS, De-dollarization, Trade

Last week, we embarked on a journey along the de-dollarization process that was characterized as inevitable. Today we will continue the analysis, trying to reach some conclusions while considering that it is still unclear which currency will be the alternative to the US dollar as the main exchange currency. Several options are being considered. One of the options will come from the decision taken by the BRICS (Brazil, Russia, India, China and South Africa) at their summit meeting to be held in South Africa in August. The governor of the South African Reserve Bank, Lesetja Kganyago, said that any discussion aimed at establishing a common currency will inevitably lead to another debate around the creation and location of a central bank.

US Woos India’s Far-Right PM Modi To Help Wage New Cold War On China

June 24, 2023 Ben Norton, Geopolitical Economy. Educate! BRICS, China, India, New Cold War, US Imperialism

India’s far-right Prime Minister Narendra Modi took a historic trip to the United States this June. President Joe Biden rolled out the proverbial red carpet for Modi, touting a “new era” to “strengthen our partnership for decades to come”, as the US seeks to recruit India for its new cold war on China. The two leaders released a joint statement implicitly criticizing China and Russia. Reuters made it clear that “Washington wants Delhi to be a strategic counterweight to China”, and that the two leaders signed “deals on defense and commerce aimed at countering China’s global influence”.

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