[Peace-discuss] Conflicting perspecitves on BRICS and Bretton Woods

[David Green]

  Whitney: Let’s cut to the chase: Leaders of the BRICS(Brazil, Russia, India, China and South Africa) realize that global securitycannot be entrusted to a country that sees war as an acceptable means forachieving its geopolitical objectives.  They also realize that they won’tbe able to achieve financial stability as long as Washington dictates therules, issues the de facto “international” currency, and controls the mainlevers of global financial power. This is why the BRICS have decided to chart adifferent course, to gradually break free from the existing Bretton Woodssystem, and to create parallel system that better serves their own interests.Logically, they have focused on the foundation blocks which support the currentUS-led system, that is, the institutions from which the United States derivesits extraordinary power; the dollar, the US Treasury market, and the IMF.Replace these, the thinking goes, and the indispensable nation becomes justanother country struggling to get by. http://www.counterpunch.org/2015/07/10/putin-leads-brics-uprising/Bond:The BRICS banks will thus ‘complement’ the Bretton Woods Institutions, thanksto a self-mandate dating to early 2014. As Brazil’sneoliberal finance ministry reminded last week, the CRA “will contribute topromoting international financial stability, as it will complement the currentglobal network of financial protection. It will also reinforce the world’seconomic and financial agents’ trust.”https://zcomm.org/zcommentary/is-brics-a-true-alternative/
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.chambana.net/pipermail/peace-discuss/attachments/20150711/10a6f37d/attachment.html>