Wednesday, July 8, 2015

BRICS attacks: the Hegemony of the West wavered - expert

July 8, 2015, 15:20

BRICS attacks: the Hegemony of the West wavered - expert


Russia has successfully created diplomatic club to fight the hegemony of Western financial and economic institutions. Critics, who were the idea of ​​the BRICS doubt wrong. This was reported in the journal The National interest Zaltsmanovskogo Fellow of the Institute of War and Peace Studies at Columbia University Cynthia Roberts.

According to the expert, Russia at the summit, the BRICS countries in Ufa shows that "it is not isolated by sanctions of the West."

"This summit demonstrates the transformation of the club in the BRICS group of great powers, who are focused on their own priorities, rather than the priorities of Washington or Brussels," writes political scientist.

BRICS countries are going to develop without relying on Western structures. Group of five countries perceive their actions as adversely affecting the interests of BRICS. Financial experts and political analysts believe that the Western countries are responsible for what in the world is formed and operates the new economic system. US and Europe do not want to give the BRICS countries influence in the pro-Western institutions and organizations that would be in proportion to the volume of their economies, says the analyst.

Group of five countries establish their own institutions, which will operate in parallel with the pro-Western organizations. So the BRICS have already announced the beginning of the new development bank. In addition, a pool of conventional reserves. This will allow the banks of the BRICS countries to provide each other money in the dollar in the event of liquidity problems of the US currency. The plans of the group is to create a common rating agency, the expansion mechanism to trade in the national currencies of the Group and the creation of the Russian-Chinese venture fund.

"Washington - continues to Cynthia Roberts - does not hide surprise that within the association are institutions that can compete with the structures of the BRICS group."

Meanwhile, five countries have common goals. Although the BRICS avoid direct attacks on US dominance of the West country's disputed claim to continued leadership of the world economy.


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