Opposite of Brics- Corriere.it- G7

From Federico Rambini

At the last summit of the emerging powers, Beijing’s grand maneuvers dominate. Who is now courting Africa. How the club of the world other than us was born and why it is getting stronger now

Xi Jinping
Condemnation: Sanctions imposed by the West are tantamount to “militarizing the world economy” and a boomerang against those who use them. The Beijing media reintroduced the idea of ​​a world monetary order “liberated” from the dollar, with alternative payment methods to Swift (effectively controlled by the United States centered on Belgium).

Where did the Chinese president say these things? At the BRICS Economic Summit, Brazil Russia India China South Africa Abbreviation. Although China has already emerged as the second largest economy in the world for all intents and purposes, the BRICS themselves are a club of emerging powers. In parallel to the BRICS Economic Forum, another conference was held in Addis Ababa with the support of China. About the horn peace of Africa, G launched his own aid program to that part of the continent devastated by the Ethiopian civil war. The West often appears to be marginalized in these big maneuvers that see Beijing weaving the web towards the southern hemisphere.

Looks like the geographical appearance of the BRICS Replace glass and G7, Clubs of old rich countries. So does the abbreviation BRICS refer to the control room for dismantling US-centric globalization and gradually transforming it into an alternative international order? The history of the BRICS is now more than twenty years old, singular and memorable. The club is surrounded by the loving attention of Chinese executives, but was discovered by an American economist and later an employee of Goldman Sachs on Wall Street.

Decisive Background In December 2001, China effectively became part of “our world”. Since 1995, the rules of globalization have been negotiated and adopted by the World Trade Organization or the World Trade Organization. As a member of the World Trade Organization, new markets have been opened to China since late 2001. Since then, the export-driven take-off has been a fantastic story. TheChinese miracle It is produced in unprecedented quantities.
India’s system after China; Even the “sleeping elephant” raises growth through liberalization therapy (even more so than in China, which has been corrected by strong levels of protectionism).

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The geography of growth is expanding, so Goldman Sachs economist Jim O’Neill Invented the abbreviation for brix, Brazil annexes Russia and finally South Africa to Cynthia. At the outset his mediocre intent: O’Neill with the Brics wants to provide investors with a simple and suggestive label to mark new markets they need to invest in to take advantage of the opportunities of globalization. This is a financial marketing gimmick, very simple.

Paradoxically, Brix’s initials, born in Goldman Sachs’ research office, end up in a geopolitical reality: the leaders of those five countries love it, they accept it, and so on. They meet from time to time at special summits Excluded the West from it.

Over the next twenty years it was born in developing countries A middle class More than a billion people, a huge market. At the same time, however, the infiltration of the authoritarian regime brutally belies the optimistic prophecies of Clinton and Bill Gates, whom O’Neill believed in, the inevitable transition to democracy that must be aligned with capitalism.

Over the next twenty years, the general desire to transcend the “unipolar world” manifested itself repeatedly in the declarations of the BRICS leaders and government. How real is their integration? In some cases the reconciliation was significant. An example: In 2011 the BRIC adopted a common position on the UN resolution, in which the United States and its Franco-British allies gave the green light to military intervention in Libya. Here is a point that is very common to the BRICS: because they are marked by a colonial or neo-colonial past (India, Brazil), or they aspire to an era in which they can compete for world leadership with the United States (Russia). Or finally because they have anti-Western (China) imperialist ambitions, they all have a hatred for the role of the United States. The previous case shows that the failure of the Copenhagen Environmental Summit (December 2009) showed that only the Cynthia pair could use strong veto power against any US + European ambition that dictates the international agenda.

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Briggs was level Strengthened due to the 2008-2009 recession. This was called the “global recession”; Because of mental laziness, or because we are stubborn in considering the West as the navel of the world. In fact the crisis was mainly for West + Japan. China did not go into recession for even two quarters. So is India. Brazil suffered from it only for a very short time, then exited at full speed, finding rapid growth rates driven by the Chinese demand for its raw materials and food. More than ever, after that crisis, world economic geography began to resemble the subtitle of an article by historian Niall Ferguson: “The West and the Rest”.

U.S. economist Danny Rodriguez says the BRICS supports “globalization of the Bretton Woods model rather than the most recent and radical version.” What do you say? The International Conference on the Structure of the International Economy for the Post-War Era was held in 1944 in Bretton Woods under the political leadership of Franklin Roosevelt and the theoretical leadership of John Maynard Keynes. GATT, the forerunner of the International Monetary Fund, the World Bank and the World Trade Organization, was formed there. It is an important step in restoring trade freedom, promoting international trade that has drawn many post-war economic “miracles” from Italian to German and Japanese. But it was partly globalization: currencies did not float erratically, capital movements were subject to restrictions, and borders were gradually opened. Roderick notes that BRICS has a selective approach to globalization, Reminiscent of the orderly world of Breton Woods. China implements protectionism even before Donald Trump tries to give it back; For many years it has resisted Western pressures on the monetary front, and has kept the renminbi within a limbo of incomplete change. India has been maintaining some control over the capital movement, as well as gradually opening up borders to trade. Brazil uses the practical provision of a “national labor tax base” for foreign companies wishing to invest in key sectors such as oil and mining. All these governments operate in practice: not declarations of ideological war against the West, but rational calculation of national interests. Russia and China share the share of state capitalismEspecially in strategic areas.

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The political and equal value differences between the Indian and Brazilian democracies and the dictatorial political system that rules China are clear. As well as the strategic rivalry between India and China, New Delhi is pushing for US advances in military cooperation. At the current summit, the Narendra Modi government has sent a pledge to the Americans: Indian delegates will refrain from signing the BRICS report, which could criticize Washington. So BRICS is not ready to become a global managing director. But in the meantime, it is asserting itself as the club of the world “except for us” and none of its members have complied with sanctions against Putin for his aggression against Ukraine.

June 23, 2022 (alternate June 23, 2022 | 9:07 pm)

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