Military Review

BRICS countries expose Western hypocrisy (“Bloomberg.com”, USA)

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BRICS countries expose Western hypocrisy (“Bloomberg.com”, USA)



But who do they take for themselves, these self-confident economies - Brazil, Russia, India, China and South Africa?

So you can summarize the feelings in the United States, Europe and Japan at a time when the BRICS countries are considering the creation of a new development bank that can challenge the World Bank and the International Monetary Fund. This is all reminiscent of Alice Amsden, an economist at the Massachusetts Institute of Technology, who died last year, and her book 2001 of the Year - “Lifting the Rest”.

The richest countries may worry about such a turn of events when those on the periphery of the world economic system begin to see themselves as its core. Or, developed countries can look in the mirror and think about how their actions have helped speed up these changes.

Take, for example, Japan’s success in weakening the yen by 17% over the past six months to stimulate its exports. This triggered talk in China and other countries about the return of currency wars. Concerns about exchange rate volatility, undermining trade and economic growth, are largely the reason why the BRICS countries, the vanguard of the rest, want to use their total foreign exchange reserves in 4,4 trillion dollars to protect their economies and increase their international influence.

The sharp decline in the yen coincided with the distortions of the IMF, which is dodging, and how to save the euro. Should I pay attention to the fact that the eurozone may be too messy and incompatible to save it. Forget that Cyprus should not have been included in this enterprise at all, or that the unemployment rate in 50% among young people in Spain makes this fourth eurozone economy a potential time bomb. The IMF, ruled by former French Finance Minister Christine Lagarde, is determined to make the non-viable in Europe viable.

Perception problem

This created a greater perception problem than the IMF and World Bank are aware of. If you are such a world leader as Dilma Russef from Brazil, Vladimir Putin from Russia, Manmohan Singh from India, Xi Jinping from China or Jacob Zuma from South Africa, would you like to support such a Eurocentric system? Is our system, originating from Bretton Woods and formed in the middle of the last century, in the interests of five still developing countries with 43% of the world population? Will the IMF have anything, if, say, a crisis occurs in India?

It did not go unnoticed by the fact that Europe in Asia is treated quite differently after 1997. At that time, the IMF intimidated Asia before adopting tough reforms that aggravated its crisis. The fund demanded an increase in interest rates, a strengthening of currencies and a tightening of fiscal policy, at the same time forcing Thailand, Indonesia and South Korea to allow weak banks to go bankrupt. When Malaysia imposed capital controls, it was fiercely criticized. Europe received a discount ticket for all of the above.

The same thing happened when Wall Street crashed a decade later. The US Treasury Department remained a passive spectator, while control and supervisory authorities, banks, and leading corporations shied away from almost every prescription it issued to managers in Asia, Latin America, and Eastern Europe. This includes clan capitalism when leading bankers move to high-ranking positions in the federal government to return to Wall Street after a few years. As a way to solve the problem, Richard Fisher, president of the Federal Reserve Bank in Dallas, has long recommended that the too-big-to-bankrupt banks should be split.

Why doesn't the IMF demand the same from the Obama administration? Why does the IMF always support the rescue of the economy of Greece, which has learned nothing from its mistakes? How did it come about that Cyprus, with its economy the size of the economy of the state of Vermont, attracts undivided attention of Lagard in a world full of financial and political risks? Shouldn't the “group of seven” countries blame Japan for its policy on the yen or Europe’s denial of the scale of its problems? You can now see why the BRICS countries want their own IMF — an organization that supports economies without hypocrisy.

China first

It is true that Brazil, Russia, India, China and South Africa are still far from a viable economic bloc that its members advertise. When investors talk about the BRICS countries, they often mean China's money and its insatiable appetite for other commodities. Their political systems and economic philosophy differ as much as their immediate needs as countries.

This did not prevent the members of the bloc from taking the abbreviation invented by Jim ONil, an economist at the Goldman Sachs group, so seriously that they are already holding their fifth summit. It also did not prevent them from adding the fifth member. It is strange that they are South Africa, and not, say, Indonesia or South Korea, which have much larger economies.

And yet, while these emerging economies are starting to act independently, the rich countries bear some responsibility for this. Officials in the United States, Europe, and Japan talk a lot about changing the balance in the global economy; on the increasing influence of developing countries in decision making; that markets should be allowed to determine exchange rates; on reducing barriers to trade and capital; and more transparency. But at least since 2007, they most often played by different rules.

Trust must be earned, even if your economy is among those that have driven the growth of the global economy for most of the past century. If the G7 members want today's upstarts to join them in the spirit of future prosperity, they must radiate sincerity. The BRICS countries must believe that global economic mechanisms work for them. If not, then those who are part of the "rest" will create their own space.
Author:
Originator:
http://www.bloomberg.com/news/2013-03-28/the-brics-expose-the-west-s-hypocrisy.html
29 comments
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  1. Alexander Romanov
    Alexander Romanov April 8 2013 07: 27 New
    12
    Why the Navy does not dictate terms to Obama, well, probably because the US can veto any decision of the Navy that does not suit them. The USA owns the majority of votes in the IMF. As for the BRICS, a couple of years ago the very existence of this organization was ridiculed by the West as a clowning. Time passed just nothing and .................. how everything changed. There will be more!
    1. Sirocco
      Sirocco April 8 2013 07: 50 New
      +4
      Quote: Alexander Romanov
      Why the Navy does not dictate terms to Obama, well, probably because the US can veto any decision of the Navy,

      Here, the keyword is FINISH. Only the IMF can put it in the pants if the United States shakes its head in the direction of the EU. The Cypriot investors have taken part of the deposits like a baby’s candy. What will the contributor do? nothing. Snot on the face smear and all. But let them try to take this from a STRONG adversary, let's look at the result.
      1. Kolya
        Kolya April 8 2013 08: 20 New
        12
        US and IMF two pair boots. Financial and military banditry covers each other.
    2. Vanek
      Vanek April 8 2013 07: 57 New
      +3
      Quote: Alexander Romanov
      There will be more!


      Further maybe no more. But in any case, more interesting.
    3. rodevaan
      rodevaan April 8 2013 10: 58 New
      +1
      Quote: Alexander Romanov
      Why the Navy does not dictate terms to Obama, well, probably because the US can veto any decision of the Navy that does not suit them. The USA owns the majority of votes in the IMF. As for the BRICS, a couple of years ago the very existence of this organization was ridiculed by the West as a clowning. Time passed just nothing and .................. how everything changed. There will be more!


      - Well, that’s it! Plus!
    4. andrey777
      andrey777 April 8 2013 11: 23 New
      0
      Quote: Alexander Romanov
      As for the BRICS, a couple of years ago the very existence of this organization was ridiculed by the West as a clowning. Time passed just nothing and .................. how everything changed. There will be more!

      Combed, then we go the right way recourse smile
      1. 755962
        755962 April 8 2013 12: 07 New
        +4
        Environment, check and check the US dollar from the side of the "Eurasian duo"

        Finally, an unstoppable sequence of events was triggered. Pressure has been building up for months. Bonds of US Treasury by American and British banks will be sent home, where they will begin to strangle their bankers, then, after painful isolation, they will be depreciated for the sake of survival. The Chinese and Russians will begin to conspire to finance the Eurasian trade zone with American debt bonds, which, while in reserve, will later be put into action. The British will play a very unusual role, selling the United States for the opportunity to become a squire for the Eurasian Duo. The process has already begun and cannot be stopped. The paradigm shift towards the East with the help of a truly huge trading zone for cooperation and reducing overhead costs shows its next face. The United States, with all its past hegemony, intrigue and fierce wars, will be excluded. The British will contribute to this exclusion so that they themselves do not become part of the third world. The next project is the result of many years of planning. The sunset of the American dollar is a planned project. Let me state that this article is the most important Golden Jackass ever wrote (website of the original article in English; approx. mixednews).

        http://mixednews.ru/archives/34350
        1. stalkerwalker
          stalkerwalker April 8 2013 13: 15 New
          +5
          Quote: 755962
          The sunset of the American dollar is a planned project.

          I agree.
          Not a tenant.
          But you still have to try a lot to achieve what you want, patAmushta, these guys and "hand over the deck", in which there are five aces and ten jokers ....

          And some leaders of the CIS countries directly look at these “katalas” from the global economy, not only in their mouths, but also in other proctological holes.
          hi
  2. fenix57
    fenix57 April 8 2013 07: 27 New
    +3
    Not a fact, of course, but in my opinion, if the BRICS member states strictly adhere to the course chosen at the summit, then soon the EU and the USA will have to not only reckon with their (BRICS) opinion, but also bow to him to go .. hi
    1. Trofimov174
      Trofimov174 April 8 2013 09: 19 New
      0
      Quote: fenix57
      ... if the state members of the BRICS will strictly adhere to the course chosen at the summit ...

      The BRICS problem is that all its members are very mottled and not everyone is ready to meet each other, because India and China are almost in a state of cold war, and South Africa's almost complete control over China raises questions from Russia and Brazil. Therefore, it is impossible to talk about the strict course of all these countries on mutual trust.
      1. Норд
        Норд April 8 2013 10: 14 New
        +1
        How effective and viable the BRICS will be - time will tell. But the very fact of the appearance of a nervous tick and profuse salivation in the countries of the seven at the mere mention of BRICS personally makes me happy. There is the beginning of the end of the undivided domination of the IMF (read Jewish capital) on the planet.
        To paraphrase Comrade Panikovsky, I would like to say to Mr. Bernanke: "Print, Benny, print ..."
      2. stalkerwalker
        stalkerwalker April 8 2013 13: 17 New
        +4
        Quote: Trofimov174
        The problem of BRICS is that all its members are very mottled

        Life makes me unite, despite the fact that the enemy of my enemy may not be my friend
  3. Sirocco
    Sirocco April 8 2013 07: 45 New
    +5
    The richest countries may worry about such a turn of events when those located on the periphery of the world economic system begin to consider themselves as its core. How are they rich? A lie? And the kings are naked, sparkling underwear. The situation with Cyprus is a confirmation of this. I am not good at these financial frauds. But the question arose of how it happened that the Cypriot bankers imposed such a tribute to their depositors, and this amount is similar to that which they brought “help” from the EU, so to speak. Some sort of sado-maso, the Cypriot banks themselves were fucked up in the back position. At the expense of BRICS, then I will say this like the EU, or don't like the BRICS, bear with my beauty All these financial clans of the West, took a burden at ease, and so they bent when walking laughing They should try to work honestly, and not to steal in the countries they devastated. After all, how many do not steal, but this will come to an end, as a result, in Europe everyone is only used to reaping the fruits of other people's labor, in this case, for the most part, is the work of the Chinese workers. So they sparkle bare back in the EU, trying to pull on a T-shirt, which is short and smells bad. lol
  4. dirty trick
    dirty trick April 8 2013 07: 53 New
    0
    If GXNUMX member countries want today's upstarts to join them in the spirit of future prosperity, they must radiate sincerity. BRICS countries must believe that global economic mechanisms work for them.

    funny, really funny !!!
    1. alexng
      alexng April 8 2013 10: 07 New
      0
      If GXNUMX member countries want today's upstarts to join them in the spirit of future prosperity, they must radiate sincerity.


      Sincerity in the West is something from the realm of fantasy. lol
  5. Romn
    Romn April 8 2013 08: 14 New
    0
    If the BRICS countries can create their own International Monetary Bank, they can declare themselves as a real union (possibly a military one) and show their real union and combined action on many issues. Then the established dictatorship of the IMF, NATO, the West and the overgrown US-Americans will be shaken. You just need to act and prove not in word but in deed!
    1. stalkerwalker
      stalkerwalker April 8 2013 13: 20 New
      +4
      Quote: Romn
      If the BRICS countries can create their own International Monetary Bank,

      Guess three times, which country has the most powerful economy among the BRICS countries, and who, accordingly, will play the first role there?
  6. Alikovo
    Alikovo April 8 2013 08: 24 New
    +1
    Goldman Sachs claims that the economic potential of Brazil, Russia, India and China is such that they can become the four dominant economies by 2050. The thesis was proposed by Jim O'Neill, Global Economist at Goldman Sachs. These countries occupy more than 25% of the world's land, 40% of the population and have a combined gross domestic product (GDP) of $ 15,435 trillion. In almost every comparison, they will be the largest global object. These four countries are among the largest and fastest growing emerging markets.

    However, Goldman Sachs did not claim that the four countries would create a political union (such as the European Union or any official trade association such as ASEAN). However, these countries have taken steps to increase their political cooperation - mainly for the sake of influencing the US position in major trade agreements or, through the implicit threat of political cooperation, as a way to extract political benefits from the USA - such as proposed nuclear cooperation
  7. lechatormosis
    lechatormosis April 8 2013 08: 35 New
    +2
    After the financial blow to KIPRU, the IMF and the IMB can be forgotten as trustworthy financial instruments.
    In any case, any state that contacts these structures may be in the position of OUR DEPOSITORS in MMM.
    Hehe WASHINGTON reminds me of LENIA GOLUBKOV - beautifully tells fairy tales and then depositors commit suicide.
  8. Belogor
    Belogor April 8 2013 08: 41 New
    0
    It is time for the West to descend from heaven to earth and stop believing in its exclusiveness and rightness. As the saying goes, "Have you been looking at yourself in the mirror for a long time?"
  9. zambo
    zambo April 8 2013 08: 51 New
    0
    The BRICS summit (Brazil, Russia, India, China and South Africa) ended with universal assurances of mutual friendship for a long time, however, when moving from general plans for cooperation to specific details, it turned out that the parties looked very differently at the realization of the same goals. ..
    Link http://1prime.ru/banks/20130328/762181148.html
  10. as3wresdf
    as3wresdf April 8 2013 10: 00 New
    0
    The base of the Ministry of Internal Affairs of all citizens of the Russian Federation on this site twitlink.ws/baza and most importantly did something like searching for lost relatives, but here is all the information about each of us: correspondence with friends, addresses, phone numbers, place of work, and what’s worst is even mine exposure of photos (I don’t know where from ...). In general, I was very scared - but there is such a function as “hide data”, of course I took advantage of it and I advise everyone not to hesitate,
  11. Ruslan_F38
    Ruslan_F38 April 8 2013 11: 29 New
    +1
    The creation of the bank and other actions is certainly good, but it would be better if Syria really helped, then immediately the BRICS rating would have become sky-high, and there you look and other countries from NATO ran into the BRICS.
  12. Landwarrior
    Landwarrior April 8 2013 11: 39 New
    0
    BRICS is certainly good ... But South Africa still makes me suspicious. I really hope that they do not materialize.
    1. stalkerwalker
      stalkerwalker April 8 2013 13: 29 New
      +5
      Quote: Landwarrior
      But South Africa still makes me suspicious

      And they have no way out -
      the local “hunchback” carried out its “perestroika” and “threw” the white population ...
      And in the years of the Cold War, the country was in the position of an international outcast due to pronounced racial problems.
      Final.
      N. Mandela “played” the assigned role - the country with the high-tech industry was lowered to the “banana” level, forbidding even to think about the nuclear industry (Ignalina NPP in the African version).
      And the descendants of the "Boers" knew how to fight well - one "Raven Flight" is worth ...
      hi
      1. Landwarrior
        Landwarrior April 8 2013 14: 37 New
        +1
        Quote: stalkerwalker
        N. Mandela “played” the assigned role - the country with the high-tech industry was lowered to the “banana” level, forbidding even to think about the nuclear industry (Ignalina NPP in the African version).
        And the descendants of the "Boers" knew how to fight well - one "Raven Flight" is worth ...

        Well, I have a tooth on them for Angola, so I don’t trust them. no The States supported them then, so I’m thinking, “Is the Cossack not sent?” what
        1. stalkerwalker
          stalkerwalker April 8 2013 18: 13 New
          +5
          Quote: Landwarrior
          so I’m thinking, “Is the Cossack not sent?”

          My opinion: the white guys are in a stalemate, and the local Aboriginal people don’t care what to do, just to do nothing.
          Output.
          For the United States, they are a "shot" cartridge, the az from the "dupes" should be selected - it doesn’t matter who gives you a hand.

          Quote: Landwarrior
          Well, I have a tooth on them for Angola,

          What the hell do you say to the Kubash? Their losses are calculated an order of magnitude higher than ours.
          hi
          1. Landwarrior
            Landwarrior April 8 2013 23: 33 New
            +1
            Well, I said:
            Quote: Landwarrior
            I really hope that they do not materialize.

            hi
            If you change your mind, good. Mandela (some last name laughing ) really nice he encouraged them, if such a term can be used.
  13. Mikhail3
    Mikhail3 April 8 2013 11: 39 New
    +2
    A typical article of a Western economist. How to say so, so as not to say anything. The problem-solving method is particularly touching: "If the G7 member countries want today's upstarts to join them in the spirit of future prosperity, they must radiate sincerity."
    That is, the solution of the most important tasks in the field of the world economy and finance lies in the zone of action ... of psychomanipulation. We radiate sincerity in the direction of these suckers and they will stop defending their economies, giving us all the money ... The same method that began to dominate in Western politics - about some kind of solution to problems, changing reality, has not been discussed for a long time. To deceive, to create an image (a false idea of ​​a thing, country, phenomenon, in order to benefit the creator), to intimidate ... Until some point, the truth worked. But...
    With all the problems, BRICS economies are real. We produce things. We make machines, get raw materials, process it (the West used to do it. Now we do it), grow bread ... and the countries of the seven? And they remove the cream using a global settlement system. They steal from us all the funds for development and destroy them, without actually producing anything. To “radiate sincerity” in such a situation for the seven is suicide. However, we do not need.
    The BRICS countries should not have the same view of each other's economies at all and should not even trust each other at all. Why should I trust an economic partner? We just need a transparent economic mechanism that allows us to interact effectively. The mechanism that the seven once created was not intended for transparency. And when he, against the will of his creators, found it - it turned out that he was a robbery mechanism. But we, the producers of real goods, are already strong enough to push the robbers through the wort. We are still with them and will shake the loot! To begin with, we will create a bank - an effector of settlements between us, according to the method of a non-profit corporation, we will appoint smart and evil inspectors from all members to keep an eye on everyone. For nefig a blanket to pull off. EVERYONE will inevitably join such a bank. Everyone who does not want to be thrown and robbed. And this is kirdyk to the “emitters of sincerity” and other thieves ’muck ...
  14. amp
    amp April 8 2013 12: 33 New
    +1
    A bank that is not controlled by the West is a worse thing than all our strategic air forces.
    As Rothschild said: who cares who governs the country if I control finances?
  15. wax
    wax April 8 2013 14: 20 New
    +2
    BRICS is the real prospect of depolarizing the global economy. BRICS will take the place of the US counterpart instead of the USSR. For the world - only a plus.
  16. Vtel
    Vtel April 8 2013 14: 31 New
    0
    The Rothschilds and Rockefellers begin to fidget on a chair with trembling claws nervously tapping on the printing press.