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The
Brics's Emergence Opens New Political and Economic Alternative for African
Nations
By
Dr. Bienvenu-Magloire Quenum
 The
acronym BRICS stands for Brazil, Russia, India, China, and South Africa, which
pull force together to create a new political and economic entity.
It started
with the four first listed (BRIC) which head of states gathered at Yekaterinburg/Russia
on June 16, 2009, to formally endorse the creation of the international political
entity.
The summit's focus was on improving the global economic situation - after the
financial crisis of year 2008's fall, and reforming financial institutions.
South Africa officially became a member nation on December 24, 2010, after being
formally invited by the BRIC countries to join the group. The group was renamed
BRICS – with the "S" standing for South Africa. For
more on Brics follow this link.
-
The BRICS are an economic and political powerhouse in the making
As shown on the map above, Brics entity does not have territorial
continuity, it represents, however, a new political and economic force on the
world stage.
Indeed, two of Brics members, Russia and China have each a permanent seat at
the United Nations Security Council; and together, in current year 2012, the
five BRICS countries represent half of the world's population, a combined
nominal GDP of US$13.6 trillion, and an estimated US$4 trillion in foreign reserves.
This year 2012, the Brics countries provided 56 percent of world GDP growth,
while the share of the richest nations of the West - the U.S. and
Germany, is only 9.5. Further,
the volume of trade within the Brics grew from US$27 billion in 2002 to US$250
billion in 2011.
And most important, the global wealth of the new entity is based
on a productive economy, abundant natural resources - oil and other mineral
resources, gold, platinum, coal, and hydro-power. Etc.
As we all know there is an ongoing financial crisis that officially started
in 2008 [1, 2, 3, 4 5, 6, 7, 8, 9, 10, 11 12, 13, 14, 15, 16, 17],
which is not global but mostly centered in the western part of the world as
here briefly explained.
The successive quantitative
easing monetary policy followed by the American Reserve Bank since 2010,
that injected trillion of US$ fiat-money into
the international monetary system, backed by legislation
passed by the Congress, to increase the United States
debt ceiling by US$1 trillion every - year, starting from 2011, raised the alarm
bell amongst the Brics countries's leadership.
The Brics has therefore decided to accelerate the pace to searching
for an alternative monetary system, to save their economy from huge inflation
imported from abroad, and to stop predatory economic strategy/tactic to purchasing
their national assets with fiat-money fresh from the printing press.
-
A landmark Brics's leaders meeting
 On
March 29, 2012, Brics's leaders met at Delhi, India, for their fourth annual
gathering. [At the left of this paragraph is an image picturing brics leaders;
from left: Brazil’s
President Dilma Rousseff, Russian President Dmitry Medvedev, Indian Prime Minister
Manmohan Singh, Chinese President Hu Jintao and South African President Jacob
Zuma].
They agreed to set up a bank to finance infrastructure projects and sustainable
development in the bloc.
It
would rival the International Monetary
Fund (IMF) and the World Bank, which has been exclusively and respectfully chaired
by Europe and the U.S. Since the inception of the Bretton
Woods Agreements in 1944.
-
A new political and economic era starts for the benefits of the people
of the world
The
decision taken by the Brics leaders to setup a developing bank to rival
the IMF and the World Bank would have an immense impact on the
developing process worldwide, particularly in African countries.
Indeed, these had
been under a strict control of the IMF and the World
Bank, with loans and financial interventions tied to strict disbursement
procedure for allocated funds, under unbelievable conditionality
- the last one for instance being the obligation for African leaders to promote
gay rights to get funds from America aid-programs; not to forget
forceful privatization of national assets/state run entities at bargaining
prices to the benefit of "investors" from Europe and America.
Now, with the emergence of the Brics, to which several countries around
the world are, no doubt about that, planning to adhere to,
the IMF and the World Bank would need to compete to stay "healthy",
and
survive. They would have to drift away from "astonishing" loans
conditions, and promote growth instead of "absurd" austerity
programs, that had not help the developing of African nations - to say
the least.
About the author: Dr.
Bienvenu-Magloire Quenum is the principal/
managing director of Dr. Quenum & Associates, IBC. He is an experienced Investment & Business
Planner with 25 years consulting practice in African countries.
He is the editor in chief of Africabiz Online
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Many
thanks for subscribing to Africabiz. See you here on July 15, 2012
Dr.
B.M. Quenum
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| Business
Opportunities MISCELLANEOUS
SERIES: INTRODUCTION TO PINEAPPLE AS AN INCOME BUILDER FOR A COMMUNITY
A decade
ago Africabiz Online dedicated a series to tropical fruits as per following links:
[34, 35, 36, 37, 38, 39, 40, 42, 43, 44, 45, 46]
- the last five listed concerning pineapple.
This current delivery continue revisiting the issues dedicated to pineapple cultivation
a decade ago, to further highlight pineapple importance as an income building
power for communities and nations of the South.
This new series about pineapple cultivation will be dedicated to the economic
importance of pineapple fruit leaves and vegetable wastes as raw materials to
manufacturing fibers.
Click
here to read more about the matter
Control Your Desktop
YOU MAY EXPERIENCE JERKY VIDEO STREAMING IF BROADBAND AND WIFI ARE CONNECTED
AT THE SAME TIME
Even if you boost
the Wifi signal from your router using applications and devices here
described,
you may still experience jerky video streaming, if you have Broadband and Wifi
If such is the case, try to disconnect the Wifi system, either directly through
the Connection Logo in the system tray - or proceed with this sequence of actions: Start/Control
Panel/Network and Sharing Center/ - then Click on View Status of
the Wireless System, and Choose Disable at the bottom of the
interface.
It is also a good practice to install a Video Speeding application on
your system to smooth the streaming of the broadcast. The following
website hosts such an application
For more on the matter visit this link
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