In These New Times

A new paradigm for a post-imperial world

BRICS against Washington consensus

Posted by seumasach on July 15, 2014

Pepe Escobar

Asia Times

15th July, 2014

The headline news is that this Tuesday in Fortaleza, northeast Brazil, the BRICS group of emerging powers (Brazil, Russia, India, China, South Africa) fights the (Neoliberal) World (Dis)Order via a new development bank and a reserve fund set up to offset financial crises. 

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One Response to “BRICS against Washington consensus”

  1. Kaush said

    Goldman Sachs’ analysis of the BRIC eciomones is bullish to say the least. In the next 45 years, the economic growth of Brasil, Russia, India, and China will have, e2€œenormous influence on every aspect of our societies.e2€9d This leads one to ponder how the US may be influenced by the rise of these vast and populous nations. A budding middle class, or consumer market, will act as a snowball effect on the rate of growth for the BRIC nations. If American style e2€˜big-boxification’ replicates itself as the middle class consumption model of choice in BRIC, it is predictable that a large amount of resources will be required to accommodate demand. All nations are entitled to their fun playing the consumption game. It will, nevertheless, be interesting to see how all the world’s nations choose to allocate finite resources over the long-term. What will be the state of the US’s ego in a multipolar economic reality? Will we be fearful and defensive? It’s arguable that we have already experienced a surge in US resentment towards China and Russia. This surge is multi-faceted, but economic forfeiture is a factor. On a personal level, I witness the suspicion and distrust of China when I visit my redneck buddies in the north. One friend sent a mass email about the atrocious act of flying the Chinese flag in DC during a China/US diplomacy visit. I suggested it may be our way of thanking China for being the US’s #1 lender. The growing middle class of the BRIC nations will certainly lead to a better educated globe. It is hopeful heightened education connects ideas and spreads knowledge. It is hopeful that as the globe’s educated see themselves as a piece of the whole. Let’s also hope intellectuals in the US and maybe even my redneck pals gain some sort of awareness for the world outside our border. Fear-based reactions to the rise of the rest will prove futile and recessive for the overall human community.

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