The New World Order is not turning out as planned. Instead of all power emanating from London and Washington, new power centres are emerging to the South and East: a new global equilibrium raises the possibility of a new post-imperial age of peace and equality between nations.
Posted by seumasach on June 18, 2009
W Joseph Stroupe
18th June, 2009
Decoupling on the part of the under-developed economies is defined as accelerating along the path of eliminating inordinate reliance upon the US and other developed economies as export markets. Decoupling would also tend to undermine reliance upon the dollar and boost the role of regional currencies in trade, finance and in forex reserves composition.
Posted in Multipolar world | Tagged: BRIC alliance, China, decoupling, Financial crisis, global reserve currencies | Leave a Comment »
Posted by seumasach on June 17, 2009
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·President Hu made a 4-point proposal for tackling the financial crisis at BRIC summit.
·BRIC countries should try to take lead in recovering from the financial crisis, Hu said.
·BRIC countries shoul push forward the reform of international financial system.
YEKATERINBURG, Russia, June 16 (Xinhua) — Chinese President Hu Jintao Tuesday presented a four-point proposal for dealing with the ongoing global financial crisis at the first summit meeting of BRIC countries which groups Brazil, Russia, India and China.
Posted in Multipolar world | Tagged: BRIC alliance, China, End of empire, global leadership, SCO, Yekaterinburg | Leave a Comment »
Posted by seumasach on June 16, 2009
W.Joseph Stroupe
17th June, 2009
Russia announced on June 10 that it will purchase US$10 billion of the new SDR-denominated International Monetary Fund bonds. It also announced that it will further diversify its $140 billion of US dollar holdings. Brazil will also buy $10 billion worth of the new bonds, and China will buy $50 billion of the new bonds. India will likely announce its own purchases very soon.
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Posted in Multipolar world | Tagged: BRIC alliance, China, End of empire, Financial crisis, panda bonds, Russian diplomacy, SCO | Leave a Comment »
Posted by smeddum on June 14, 2009
Indian officials, scholars express high expectations of BRIC cooperation
http://www.chinaview.cn 2009-06-13
NEW DELHI, June 13 (Xinhua) — Indian officials and scholars have expressed high expectations of future cooperation among the BRIC countries. They said it would not only benefit the development of the four nations, but also help the global economy move out of the shadows of recession and resume growth. Read the rest of this entry »
Posted in Multipolar world | Tagged: BRIC, India | Leave a Comment »
Posted by smeddum on June 14, 2009
by Prof. Michael Hudson
.
Global Research, June 13, 2009
The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground.
Challenging America will be the prime focus of extended meetings in Yekaterinburg, Russia (formerly Sverdlovsk) today and tomorrow (June 15-16) for Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization (SCO). The alliance is comprised of Russia, China, Kazakhstan, Tajikistan, Kyrghyzstan and Uzbekistan, with observer status for Iran, India, Pakistan and Mongolia. It will be joined on Tuesday by Brazil for trade discussions among the BRIC nations (Brazil, Russia, India and China). Read the rest of this entry »
Posted in Financial crisis, Iran, Multipolar world, New Cold War | Tagged: BRIC, end of imperial epoch, NATO v. SCO, SCO | 1 Comment »
Posted by smeddum on June 12, 2009
The risk in China’s brisk car market
This goes some way to explaining oil price increases
16:46, June 10, 2009
People’s Daily
If someone asks what kind of commodity market is most brisk in China this year, the ready answer would definitely be car market.
Against a backdrop of slump car markets worldwide from January to May this year, car market in China is the first to warm up, and car sales have grown for five months in a row. So, the country has overtaken the United States as the world’s No. 1 car market. If nothing goes wrong in the year, China’s auto sales will breach the 10 million target. Read the rest of this entry »
Posted in Financial crisis, Multipolar world | Tagged: China, Oil, US car industry | Leave a Comment »
Posted by smeddum on June 12, 2009
10th june 2009
ON Wednesday June 10, the UN Human Rights Council adopted the Report of the Working Group on the Universal Periodic Review (UPR), presented on February 5 and 9 of 2009. On that occasion, the Cuban delegation was headed by Justice Minister María Esther Reus and current Foreign Minister Bruno Rodríguez. Read the rest of this entry »
Posted in Multipolar world | Tagged: cuba, Cuba sanctions | 1 Comment »
Posted by seumasach on June 9, 2009
W Joseph Stroupe
9th June, 2009
The US dollar certainly could stem its losses or even recover ground, if the ongoing commodities and emerging market rallies become too “animal-spirited” and get too far ahead of the reality of global supply and demand, and a significant correction occurs in these fledgling rallies.
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Posted in Multipolar world | Tagged: End of empire, Financial crisis, Multipolar world | Leave a Comment »
Posted by smeddum on June 9, 2009
2009-06-08
O embaixador brasileiro na China, Clodoaldo Hugueney, afirmou hoje que o Bric (Brasil, Rússia, Índia e China) não deve ser um grupo fechado, mas uma organização aberta que mantém contatos estreitos com o resto do mundo, a fim de combater a crise financeira e promover uma nova ordem mundial mais equilibrada e mais estável. Read the rest of this entry »
Posted in Multipolar world | Tagged: Brazil, BRIC, China | Leave a Comment »
Posted by seumasach on June 8, 2009
M.K.Bhadrakumar
6th June
When the Kremlin proposed Khabarovsk as a possible venue for the European Union-Russia summit meeting of May 21-22, Vaclav Klaus, Czech president who holds the revolving EU presidency, reportedly warmed up to the idea.
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Posted in Multipolar world | Tagged: China in South Pars, Chinese soft power, South Yolotan-Osman gas, the great game, Turkmenistan | Leave a Comment »
Posted by smeddum on June 6, 2009
China says IMF wrong to question Congo deal
Tue Jun 2, 2009
By Joe Bavier
KINSHASA (Reuters) – The IMF must present new arguments to justify its call for changes to a $9 billion infrastructure-for-minerals deal between China and Democratic Republic of Congo, China’s ambassador to the country said on Tuesday.
International Monetary Fund officials worry the contract, a key element of President Joseph Kabila’s post-war economic policy, will plunge the central African nation deeper into debt, and have delayed forgiveness of most of the $10 billion Congo already owes. Read the rest of this entry »
Posted in Multipolar world | Tagged: China, congo, IMF | Leave a Comment »
In These New Times 