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IPFS News Link • Central Banks/Banking

Pepe Escobar: BRICS are Holding it Together

• russia-insider.com by Pepe Escobar

Trouble looms across the board. China and India are immersed in a silly, almost Monty Pythonesque face-off in the Tibet/Sikkim/Bhutan tri-junction, with People's Daily blasting India for "wrong history", "disordered logic", and "blind moral confidence".

India has de facto been snubbing China's New Silk Roads, aka Belt and Road Initiative – the most ambitious infrastructure project of the 21stcentury – while Russia wants BRI firmly connected to the Eurasian Economic Union (EEU).

Russia is in a new round of economic war unleashed by the United States, fiercely denounced by Prime Minister Dmitry Medvedev.

Brazil, hostage to a House of Rats and "presided" over by a Dracula-esque crook rejected by 95% of the population, has been reverse-engineered since last year into the most blatant banana republic of modern history, tasty bananas included.

Adding to the gloom, the proverbial Cassandras insist BRICS will never become a united powerhouse; what matters for China is its complex global supply chain, while the other BRICS are in essence commodities exporters. Moreover, even when considering the group's New Development Bank, launched in Shanghai two years ago as an alternative to the World Bank, BRICS isn't credited with enough power to revamp the global economy.


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