In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘BRIC alliance’

Full text of BRIC countries joint communique

Posted by seumasach on March 14, 2009

This rebalancing of existing global institutions to
reflect multipolarity is a moment in the reform of
these institutions leading ultimately to their
refoundation on the basis of a new paradigm

March 14 (Reuters) – Issuing their first-ever communique at
a G20 finance ministers’ meeting, Brazil, China, Russia and
India have called for a bigger voice on international bodies —
signalling their growing political resolve to influence global
affairs. [ID:nLE152911]

Following is the text of the statement:
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G20 ministers meet amid rifts

Posted by seumasach on March 14, 2009


“The summit is also expected to call for an increase in funding for the International Monetary Fund (IMF).

However, Brazil, China, India and Russia said they would not contribute extra money until their voting power at the IMF rises. The IMF voting structure gives greater voting power to the US and Europe in the agency’s decisions.”

The BRIC alliance has emerged as a counterpole to US/UK hegemony and is here frustrating Brown’s plan to use the IMF to gain control of the global economy

PressTV

14th March, 2009

Finance ministers and central bankers from the Group of 20 have met in London amid rifts on how to tackle the global financial crisis.

The US, supported by Britain, is calling for more government spending to spur growth. European governments, however, want rapid moves to change the rules governing financial markets in addition to massive public expenditure.


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Posted in Financial crisis, Multipolar world | Tagged: , , , , , | 1 Comment »

 
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