The financial/political agenda founded at the Bretton Woods conference in 1944 was rather easily imposed on the global community in the aftermath of National Socialism's defeat in Europe and during the Cold War. And throughout the postwar years, the value of the almighty US Dollar was kept high through military interventions, blackmail, subversion and manipulation. However, many fundamental things have changed since, not the least of which was the collapse of the Soviet Union. Other factors at play here are also China's rise as an , Russia's reemergence as a great geopolitical power in Eurasia, Brazil/India's rise as regional and the global community's growing realization that the current system of government in the United States is actually not qualified to be called a "beacon of democracy" but it is rather a real danger to world peace and development.
It was only a matter of time before emerging powers got together to offset Washington's global reach. The emergence of entities such as BRIC and SCO are clear signs today that a new world order is slowly emerging to challenge the one we have lived under for the past sixty-five years. Russia has the landmass and the natural resources, has the population and production capability; and they both have a well trained work force and very potent militaries. If current trends continue, ten or twenty years from now Russia and (along with their satellites) may be the two top political players in the world.
CrossTalk on New World Order: The house the BRICs built (RT video): http://www.youtube.com/user/RussiaToday#p/u/7/hEXBqF5PGkU
Leaders of Brazil, India, Russia and China gathered in the Brazilian capital Thursday to advance talks for what the four nations see as a multipolar world -- interdependent but largely away from a Western umbrella. The leaders of the four major economies grouped under the BRIC banner will be talking about alternatives to the U.S. dollar as a global reserve currency, their own respective roles in the world economy and greater say in whatever evolves as a new economic order on the ruins of the 2008 economic meltdown.
Brazil and India also want their economic presence reflected in permanent membership of the U.N. Security Council, where China and Russia already have permanent seats. BRIC nations represent about 40 percent of the world's population and 20 percent of global economic output but, as a group, they are just beginning to flex their muscle, after the first summit of the four in Russia last year.
Other major emerging economies, such as South Korea and South Africa, are watching the group's rise with interest, as are oil-producing countries that include some of the world's biggest spenders with the least political leverage. Brazilian President Luiz Inacio Lula da Silva is playing host to Chinese President Hu Jintao, Indian Prime Minister Manmohan Singh and . South African President Jacob Zuma is also attending. At the first BRIC summit in 2009 in Russia, BRIC leaders advanced their own recipes for a global economic overhaul that included finding alternatives to the U.S. dollar as the global .
The Obama administration's attention is focused on Chinese moves on the yuan, which is pegged to the dollar and is crucial to keeping China's exports attractive for the rest of the world. Economists attending a BRIC seminar in Brasilia said trade between the four countries helped to stabilize their economies amid a continuing global . The speakers cited figures to show that trade among the four nations continued to grow as global trade shrank in volume, the Xinhua Chinese news agency reported.
Biswat Dhar of the Indian Research and Investigation Center said the "have put the crisis behind them." The need now, he added, was to find more "export synergies to increase trade engagement." During the nine years ending 2008, trade within the four-nation group grew nine-fold, while global trade only doubled, said Zhang Yuyang, professor of international economics at the . "Even so, trade between the BRICs has substantial room to develop," Zhang said.
BRIC Develops Into Powerful Decision-Making Force - Medvedev
The BRIC (Brazil, Russia, India, China) group is gradually becoming a global force capable of making concrete decisions, Chinese President Hu Jintao to go home earlier than planned, the leaders managed to discuss a wide range of political and economic issues on the global agenda. In a six-page joint statement, the four increasingly influential countries praised the key role of the G20 group of leading in efforts to overcome the and urged a broader use of local currencies in global and regional trade. The document also includes the BRIC group's consolidated position on energy security, climate changes and the fight against terrorism. The countries agreed to hold the next BRIC summit in China in 2011.said on Friday. The leaders of the four leading emerging powers have gathered in the Brazilian capital to discuss ways to improve of the current global economic and political situation and strengthen their cooperation. "The BRIC format is becoming fully-developed. It allows us not only to coordinate our efforts but also to make concrete decisions," Medvedev told a news conference after the summit. Medvedev said that although the summit had been scaled back due to a devastating earthquake in China, which forced