Skip to main content

BRICS bank can change world

“The New Development Bank, popularly known as the BRICS bank, established by Brazil, Russia, India, China and South Africa should start work before the end of the year. The bank will be based in Shanghai, but its first chairman is India's Kundapur Vaman Kamath. The importance India attaches to this post is shown by Kamath's prior post as chairman of ICICI Bank, India's largest private lender. The NDB will have US$50 billion in capital and a US$100 billion currency exchange reserve that members can tap in case of balance of payment crises. The BRICS bank is important in itself but also because it is the nucleus of something which, if successfully developed, will be world-changing.”

“To understand the sheer scale of BRICS, let us compare it to the G7 group of advanced economies. BRICS countries account for over 40 percent of the world's population compared to the G7's 10 percent. BRICS contains four of the 10 countries with the world's largest populations, whereas the G7 contains only one.”

“Because all BRICS members are developing countries, their market exchange rates undervalue their economies compared to measurements at comparable international prices – Parity Purchasing Powers, or PPPs. But even without correcting for this, the latest IMF projection is that BRICS economies will increase their combined GDPs by US$7.6 trillion at market exchange rates by 2020, compared to US$6.8 trillion for the G7.”

Full article:

Comments

Post a Comment

Popular posts from this blog

Capitalism & Genocide - Yanis Varoufakis Speech at the Gaza Tribunal, 23rd October 2025, Istanbul

Yanis Varoufakis   On 23rd October, Yanis Varoufakis testified in front of the Jury of Conscience in the context of the Gaza Tribunal. His speech focused on the economic forces underpinning the genocide of the Palestinian people. In particular, he spoke on the manner in which capitalist dynamics have historically fuelled the white settler colonial project and, more recently, how the accumulation of a new form of capital - which he calls cloud capital - has accelerated, deepened and amplified the economic forces powering and propelling the machinery of genocide. 
Post a Comment
Read more

Gaza 2 Years On: Yanis Varoufakis & Katie Halper on the Flotilla, Israel's PR Machine & What’s Next

DiEM25   Two years since October 7, Katie Halper (‪@TheKatieHalperShow‬) and Yanis Varoufakis join host Mehran Khalili to break down Israel’s genocide in Gaza, the latest on the flotilla, Israel’s influencer PR push, and the “peace plan”.  
Post a Comment
Read more

The Rise of the Thielverse & the Surveillance State

The Chris Hedges YouTube Channel  Whitney Webb traces the Thielverse’s rise and the construction of the bipartisan modern surveillance state that Trump and his benefactors are deploying against dissidents and immigrants today.
Post a Comment
Read more

World leaders rebel against US & Israel: to save Gaza, they demand international intervention

Geopolitical Economy Report   Leaders from dozens of countries condemned the USA and Israel in their speeches at the UN General Assembly, demanding international intervention to save Gaza. Diplomats staged a mass walkout to protest Netanyahu's speech. Ben Norton shows how Latin American governments are standing in solidarity with Palestine.  
Post a Comment
Read more

Freedom Flotilla Coalition & Thousand Madleens to Gaza sailing to break the siege

Freedom Flotilla Coalition   The next wave is already being prepared, help us buy the boats and get them ready to sail!  
Post a Comment
Read more

A response to misinformation on Nicaragua: it was a coup, not a ‘massacre’

There is so much misinformation in mainstream corporate media about recent events in Nicaragua that it is a pity that Mary Ellsberg’s article for Pulse has added to it with a seemingly leftish critique. Ellsberg claims that recent articles, including from this website, often “ paint a picture of the crisis in Nicaragua that is dangerously misleading. ” Unfortunately, her own article does just that. It looks at the situation entirely from the perspective of those opposing Daniel Ortega’s government while whitewashing their malevolent behavior and downplaying the levels of US support they have relied on. Her piece is an incomplete depiction of what is happening on the ground, ignoring many salient facts that have come to light and which have been outdated by recent events. The following is a brief response to Ellsberg’s main points from someone who lives in Nicaragua and has observed the situation directly and intimately: https://grayzoneproject.com/2018/08/15/a-res...
Post a Comment
Read more

Προβλέψεις ...

GR elections Update (15/9): Αναθεωρημένες προβλέψεις (μετά το δεύτερο debate): ΣΥΡΙΖΑ 28-30% ΛΑΕ + ΣΧΕΔΙΟ Β' κ.λ.π. 20-23% ΝΔ 11-13% ΧΑ 6-8% ΚΚΕ 5-5,5% ΕΝΩΣΗ ΚΕΝΤΡΩΩΝ 2,5-3% ΠΟΤΑΜΙ 2,5-3,5% ΠΑΣΟΚ + ΔΗΜΑΡ 3-4% ΑΝΕΛ 2,5-3,5% Update (11/9): Αναθεωρημένες προβλέψεις (μετά το πρώτο debate): ΣΥΡΙΖΑ 25-28% ΛΑΕ + ΣΧΕΔΙΟ Β' κ.λ.π. 20-23% ΝΔ 11-13% ΧΑ 6-8% ΚΚΕ 5-5,5% ΕΝΩΣΗ ΚΕΝΤΡΩΩΝ 3,5-4% ΠΟΤΑΜΙ 2,5-3,5% ΠΑΣΟΚ + ΔΗΜΑΡ 3-4% ΑΝΕΛ 2,5-3,5% Update (04/9): Αναθεωρημένες προβλέψεις: ΣΥΡΙΖΑ 23-25% ΛΑΕ + ΣΧΕΔΙΟ Β' κ.λ.π. 20-23% ΝΔ 12-15% ΧΑ 6-8% ΚΚΕ 5-5,5% ΕΝΩΣΗ ΚΕΝΤΡΩΩΝ 3,5-4% ΠΟΤΑΜΙ 2,5-3,5% ΠΑΣΟΚ 3-4% ΑΝΕΛ 2,5-3,5% Update (29/8): Αναθεωρημένες προβλέψεις: ΣΥΡΙΖΑ 23-25% ΛΑΕ + ΣΧΕΔΙΟ Β' κ.λ.π. 20-23% ΝΔ 12-15% ΧΑ 6-8% ΚΚΕ 5-5,5% ΕΝΩΣΗ ΚΕΝΤΡΩΩΝ 4-4,5% ΠΟΤΑΜΙ 4-4,5% ΠΑΣΟΚ 3-4% ΑΝΕΛ 2,5-3,5% Update : Αναθεωρημένες προβλέψεις: ΣΥΡΙΖΑ 26-27% ...
24 comments
Read more

The REAL reason why Trump is attacking Latin America

Geopolitical Economy Report   The Donald Trump administration seeks to forcibly impose the US empire's hegemony in Latin America, waging war on Venezuela, imposing sanctions on Colombia's President Gustavo Petro, hitting Brazil with tariffs, and meddling in Argentina's election. Ben Norton explains how Trump and Marco Rubio are trying to cut off all western hemisphere ties with China and Russia, bringing back the colonial Monroe Doctrine, now known as the Donroe Doctrine.   
Post a Comment
Read more

Greta Thunberg Blasts Israel, 'Complicit' World Leaders After Release From Israeli Jail

DRM News   Greta Thunberg delivered a fiery speech in Athens after her release from Israeli detention, calling Israel’s Gaza actions a “live-streamed genocide” and urging governments to “end complicity and arms transfers.” Speaking to thousands, she condemned global silence and vowed to keep fighting for Palestine through the Global Sumud Flotilla. Greta Thunberg and 27 Greek nationals arrive in Athens following their deportation from Israel after the Global Sumud Flotilla's interception en route to Gaza. Hear accounts of detention, aid blockade challenges, and calls for justice.   
Post a Comment
Read more

How Western media helped build and then protect the Israeli narrative that allowed a genocide to continue

globinfo freexchange    For two years, Palestinians in Gaza have been killed in 4K on all of our screens. And for those same two years, many of the Western media institutions meant to hold power to account chose silence, distortion and doubt. Newsrooms repeated Israel's allegations with no pushback, ignored the evidence of genocide even as it played out live. This isn't a story about bias or mistakes. It's a story about how Western media helped build and then protect the Israeli narrative that allowed a genocide to continue.  So, how many Palestinian lives have been lost because the world's news outlets chose to repeat Israel's narrative instead of questioning it?    From the earliest days following October 7th, Israel's talking points were treated as fact. The now disproven claims of 40 beheaded babies and the story that Hamas used Palestinian civilians as human shields revived with every bombing of a hospital or school despite the mountain of evidence that it...
Post a Comment
Read more