Nov 3, 2014

Avoiding Western networks

by Ramesh Thakur

All five BRICS countries — Brazil, Russia, India, China and South Africa — have vested interests in developing long-term alternative financial institutions for parking their money and moving it internationally, independent of the West's bullying instincts and addiction to sanctions.

Jul 22, 2014

Geopolitics trumps economics

by Ramesh Thakur

Western countries' insensitivity toward others' voices, values and interests lies behind the creation and evolution of BRICS (Brazil, Russia, India, China and South Africa), whose New Development Bank will give priority to loans for developing countries to finance infrastructure projects and industrialization.

Jul 22, 2014

Success of Chinese reform is key to BRICS' rise

by Pankaj Mishra

Last week, BRICS (Brazil, Russia, India, China and South Africa) took a decisive step toward building institutions that could plausibly challenge the long geopolitical and economic ascendancy of the West. But Vladimir Putin's posturing at the meeting just hours before a Malaysia Airlines jetliner ...

Jul 21, 2014

Banking on the BRICS

The financial heft of the BRICS group — Brazil, Russia, China, India and South Africa — has just advanced a step, at least symbolically, with its decision to launch the New Development Bank. A $100 billion reserve fund will be available to members that ...

Jul 15, 2014

BRICS neutrality on Ukraine a victory for Putin

A summit of the BRICS group of emerging market countries will abstain from criticizing Russia’s recent actions in Ukraine, Brazilian officials said, a diplomatic victory for President Vladimir Putin. The summit statement will make only a passing reference to Ukraine and will echo the ...

Jun 11, 2014

U.S. foreign policy marked by blatant hypocrisy

by Ramesh Thakur

It is a truth universally acknowledged that behavior by others inconsistent with social norms is condemned as hypocrisy but similar discrepancies in our own conduct is rationalized as understandable prioritization in the face of multiple goals. When the military deposed Egypt’s first freely elected ...

BRICS take shot at shattering predominance of World Bank, IMF

Mar 28, 2013

BRICS take shot at shattering predominance of World Bank, IMF

The world’s major developing nations are laying plans to combine their economic clout in a challenge to the role that U.S.- and European-led institutions such as the World Bank and International Monetary Fund play in global economic affairs. Meeting this week in Durban, South ...