The US will have been steadily sowing unrest in an effort to bring about the end of the BRICS pact – it is that much of a threat to their own self interests. The petro dollar is under threat, China is selling off US debt and Russia’s ruble is holding it’s own and both countries are buying up vast gold reserves for when the crash comes. Our greatest ally in Europe is Russia if only we could recognise that truth our worst enemy is the US and most especially the IMF and the TTIP. How sad then, that we have picked the wolf in sheeps clothing rather than an honest man(at least as Presidents go). The BRICS nations will be assailed continuously until the US and corrupt allies have trampled it to oblivion, the Asian Bank coalition will be next.
by Perry Anderson, for London Review of Books
The BRIC countries are in trouble. For a season the dynamos of international growth while the West was mired in the worst financial crisis and recession since the Depression, they are now the leading source of anxiety in the headquarters of the IMF and the World Bank. China, above all, because of its weight in the global economy: slowing output and a himalaya of debt. Russia: under siege, oil prices falling and sanctions biting. India: holding up best, but unsettling statistical revisions. South Africa: in free fall. Political tensions are rising in each: Xi and Putin battening down unrest with force, Modi thrashed at the polls, Zuma disgraced within his own party. Nowhere, however, have economic and political crises fused so explosively as in Brazil, whose streets have in the past year seen more protesters than the rest of the world combined.
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