Walter Ladwig wrote in NYTIMES: An Artificial Bloc Built on a Catchphrase recalling the history of this relation between different nations from different cultures, languages and continents. Does what unite BRICS nations is more than just a catchphrase by Golden Sachs?
29 March 2012, is the date when the 5 nation’s leaders united in New Delhi, India in their 4th summit to drive 40% of Global population and 25% of Global economy. The summit revealed agreement to Establish a permanent headquarter and a Bank. But are the nations untied under similar interests?
- Russia and Brazil are primarily natural resource exporters.
- China and India focus on manufacturing and services.
- 40% of globe workforce.
- 25% of globe economy.
- Within the top 7 economic leaders.
- Russia and China “Veto” power in security council, UN.
- Shared vision to end Europe’s monopoly over the leadership of the IMF.
- India, Brazil and South Africa are democracies, while China and Russia are away from this definition.
- The average Russian living standards is twice as rich as a comparable Chinese citizen, who is in turn twice as well-off as an Indian citizen.
- Considering total GDP, Russia and South Africa are not considered as major emerging markets.
- WikiLeaks demonstrated that China has long opposed efforts to give rising powers a permanent seat on the Security Council.
- Despite “India-China Friendship” in 2012 but Beijing is a major supplier of weapons technology to Pakistan.
- Brazil concerns about the growth of Chinese investment in Latin America which undermining its leading role.
- Russia has complained about China undervaluing its oil exports.
These facts raise a big question mark, would future carry an answer?