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BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA (BRICS) Challenges Unipolar World and US Dollar Hegemony

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08/09/2014 05:32 PM
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BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA (BRICS) Challenges Unipolar World and US Dollar Hegemony
BRICS Challenges Unipolar World and US Dollar Hegemony
BRICS Summit draws clear red lines on Syria, Iran

By Global Research News
Global R., April 03, 2013

The BRICS just became impossible to ignore. At the close of the Fifth annual BRICS Summit in Durban, South Africa last week, there was little question that this group of five fast-growing economies was underwriting an overhaul of the global economic and political order.

The eThekwini Declaration issued at summit’s end was couched in non-confrontational language, but it was manifestly clear that western hegemony and unipolarity were being targeted at this meeting.

The BRICS hit some major western sore spots by announcing the formation of a $50 billion jointly-funded development bank to rival the IMF and World Bank. Deals were signed to increase inter-BRICS trade in their own currencies, further eroding the US dollar’s status as the world’s reserve currency.

A series of unmistakable challenges were dealt to old world leaders: reform your institutions and economies – or we’ll do it ourselves.

Intent on filling a leadership void in global economic and financial affairs, the BRICS also began to draw some firm political lines in the sand.

For starters, the summit was focused on development in Africa – a resource-rich continent where competing economic interests have drawn increasingly polarized geopolitical battle lines in the past few years. The BRICS were invited to the African table via their newest member state, South Africa, and have used this opportunity to fully back the African Union (AU).

The AU has been Africa’s attempt to integrate and unify the continent economically - via the establishment of a single currency and development fund that could bypass the very punishing IMF – and militarily – via the establishment of security/defense organizations and joint military forces, among other things.

AU success would necessarily mean less old-style western imperialism in the region, reducing exploitative foreign economic activities and excluding foreign forces like the US military’s African Command (AFRICOM) from engaging in the African military theater.

At the heart of the Summit’s agenda lies the BRICS’ determination to anchor any emerging global order in “multilateralism” – whether by demanding permanent seats within the UN Security Council, forging alternative economic constructs that will shift the balance of power their way, or proactively influencing outcomes in global conflict zones.

Read more here:
[link to nextnewsnetwork.com]
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08/09/2014 05:37 PM
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Re: BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA (BRICS) Challenges Unipolar World and US Dollar Hegemony
The red dragon with 7 heads is going to war with the beast with 7 heads..

this is gonna be a wild ride.


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