Imagine you gotta kill someone , What would you do ? What weapon would you be using ? Knife , an Iron Rod , Hockey Stick etc etc .. . Now what if you gotta kill a group of people ? May be some guns ? (Just can't go shooting people with like Max Payne ). Now imagine you gotta kill the whole country ! What would you do ?
From time immemorial right from Mahabharata to the one in Afghanistan people have been fighting for power. So many battles have been fought , so many people have been killed. Although it took a while, people understood that nothing can be gained that way.Greed is the driving force behind all these ; greed of Duryodhana to the greed of wealth that lead to war of Constantinople to the greed of the nations that colonized others , it's always been greed.
With the recent advances in technology and other industries like manufacturing and telecom and name it whatever you want and the changes in the economic policies of almost nations , the interdependence of one nation over the other has increased. No one nation can say to hell with you to other unless they are dang sure that they are self sufficient though this being a distant dream to any country today.All this is true but the greed still exists , it has increased evermore.
Given the prevailing geo-political and the economic conditions, the best way to bring down a nation no matter how big or small is to target its economy. Trust me economy today is as good as a religion (see my previous post on this). Once you destroy this religion (read as economy) , that's it !
Just imagine you badly need some money so that you can come out of the mess and when the guy who you think can bail you out gives you money on a condition that you gotta spend the money just as the guy says then what is the use of such a loan or bailout?
This is what the IMF and WB precisely doing with the countries that have recently joined the Industrial revolution or got freedom recently. How long do they need to dance to the tunes of the so called GOD (read as IMF / WB) ? Enough is enough and thats what the BRIC now BRICS has though and come up with an agenda. BRICS (Brazil , Russia , India , China , Southafrica) though have almost nothing in common at all expect from having a sense of being ostracized from the International economic framework. This agenda is the establishment of a New Development Bank.
The funds of these 5 countries makeup for almost 25% of world's GDP! To establish such a Bank is surely an Herculean task given their problems in dealing with it's own group members.China shares territorial borders with India and Russia. We all know that in the recent past they have been engaged in a war also! Also China is opposing India's nuclear plans of late. Recently there has been a trade gap between China and India. Russia has its own internals problems in dealing with the US friendly neighbors. On the other hand Brazil is very vigilant when its comes to Argentina. Despite these unfavorable circumstances , these nations have come together for a common goal, the development of the developing economies !
However there are few important questions for which they need to find the answers. Here are a few of them:
1. Can they come out of US hegemony ?
2. Are they sure that this new Bank is not going to repeat what IMF and WB did?
3. How can they ensure that the regional politics and regional issues not going to impact on the function of the Bank?
4. You think this is going to nail the GOD's coffin?
5. How efficiently they can challenge the Western Liberal Democracies (so called) ?
Despite all these BRICS indeed is a force that is going to drive the developing economies to excel and come out of the mess.
Disclaimer : The views and opinions expressed in this article are solely the view of the author. The author doesn't intend to accuse any financial institution or nation. Also the author does not hurt the religious or regional sentiments of the people of any geographical region.
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