EL FIASCO DEL 5TH BRICS SUMMIT in SOUTH AFRICA

THE FAILURE OF THE 5^TH BRICS SUMMIT in  SOUTH AFRICA

Hugo Adan, March 28, 2013

Failure because the main concern of BRICS summits was overlooked. Nothing is being said about the promised BRICS DEVELOPMENT BANK. This means that the setting up of a plan for establishing an international currency to prevent the misuses of the dollar worldwide [1] didn’t go through (at least, officially).  So far, the 5^th summit simply overlooked at this issue.

More than focusing on international concerns, this summit was manipulated by business groups associated to big corporations in the West  toward a “nice” agenda: save Africa. At the end, nothing was achieved, not the narrow objective on Africa set up by the business groups behind  this 5^th summit,  NOR the most pressing concerns of the international community: a new world currency. 

Read the Joint statement of the BRICS Business Forum 2013 in: http://www.brics5.co.za/joint-statement-of-the-brics-business-forum-2013/  , un ritual saludo a la bandera pero no se dice nada sobre el Banco para el desarrollo de los BRICs ni sobre la nueva moneda mundial. Aunque si se dijo alguito de lo que ya todos sabemos: que el IMF y el BM son disfuncionales para el desarrollo de países emergentes y/o en proceso de desarrollo  para quienes el dólar resulta ser un grave obstáculo. Menos aún se dijo nada del sistema para el que sirve esta moneda: para afianzar el modelo neoliberal que lideran las grandes corporaciones bancarias (estas aun siguen inundando el mundo con sus QEs). Lo único que se dice es que: “  While there is a realization even amongst the developed countries about the increasing economic weight of emerging economies, this is not fully reflected in the governance model of global institutions such as the IMF and World Bank. We shall continue to work alongside our governments to gradually usher in governance reforms at multi-lateral institutions.”

So far, this 5^th summit is a fiasco. 

HOWEVER THE ISSUE REMAINS, and we will back to this issue.

Those who are interested on info about, check the basics here and then go to the official doct on Conclusions  of the 5th summit not yet released in the official web: http://www.brics5.co.za/

Start your basic info in these docts

1.   http://en.wikipedia.org/wiki/World_currency

2. BRICS  http://en.wikipedia.org/wiki/BRICS

3. BRICS' SABRES RATTLE AS GLOBAL CURRENCY WAR HEATS UP . 02 May 2012 http://mg.co.za/article/2012-05-02-brics-nations-rattle-sabres-as-glob  

4. Jaswant Singh, former Indian finance minister, foreign minister and defense minister. March 23, 2013. http://www.chinausfocus.com/finance-economy/crumbling-brics/ 

5. BRICS Summit: Moving Ahead, Slower. By Dan Steinbock, Director, India China and America Institute/ March 28, 2013 http://www.chinausfocus.com/finance-economy/brics-summit-moving-ahead-slower/

 

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