In his short speech of greeting to the BRICS Business Forum, Russian President Vladimir Putin expressed the potential of BRICS cooperation in bringing about a different system than the dying Western/NATO system.
He spoke frankly of the difficulties:
“Entrepreneurs of our countries are forced to develop their businesses in a challenging environment when Western partners neglect the basic principles of market economy, free trade, and inviolability of private property. They follow, in fact, an irresponsible macroeconomic course, including the launch of the ‘printing press'—uncontrolled emission and accumulation of unsecured debts.
“At the same time more and more politically motivated sanctions are continuously introduced, mechanisms of exerting pressure on competitors are further strengthened. There is intentional destruction of cooperation ties; transport and logistics chains are destroyed. And all this is contrary to common sense and basic economic logic ... negatively affecting the wellbeing of people, in effect, of all countries.”
But BRICS initiatives point in a different direction: “For example, in the first three months of this year, trade between the Russian Federation and the BRICS countries increased by 38%.” Putin spoke also of opening Indian chain stores in Russia, of greater access for Chinese products, of international expansion of the Russian Financial Messaging System and MIR payment system. “We are exploring the possibility of creating an international reserve currency based on the basket of BRICS currencies.” (http://en.kremlin.ru/events/president/news/68689)
The sword of Damocles hanging over these proposals is the threat of nuclear war. A new international security architecture, one that includes a reformed U.S. and more independent NATO countries, is desperately needed!
