(Photo: Roberto Stuckert Filho/PR)
Posted by Raquel Godoy
2012 is a
year of changes. Since the economic turmoil of 2008/2009, the emerging
countries are now surpassing many countries considered rich and developed. Five
of these make part of a group known as Brics (Brazil, Russia, India, China and
South Africa), and according to the Brics Trade and
Economic Research Network, they account for 43% of the world's population, 18%
of global trade and attract 53% of global financial capital.
Brics is more an
economic than a political group. That’s why differences between its members are
not a big problem. For instance, their opinions on the Syrian crisis, which
divided the group: some vetoed, but others voted in favor.
In recent
days, this group is surely showing its power. Two of its members, China and
Brazil, are now between the ten biggest economies: China in second and Brazil
in sixth. But, what about the Euro crisis? The Brics are being affected,
however not as much as before, because these countries are not as dependent of
the rich countries when they have to sell their products.
This week
happened the G20 meeting in Los Cabos, Mexico. The main subject discussed was
the Euro crisis and the countries might have reached a solution, or a great
help. The European leaders promised to take more “bold and decisive” actions. The
contributions to the International Monetary Fund (IMF)
totalize US$ 456 billions. The nations part of the Brics also
contributed: China offered US$ 43 billions; Brazil, Russia and India US$ 10
billions; and South Africa US$ 2 billions.
However, these
countries are not willing to give money for free. In exchange they ask for
voting reforms that can give them greater influence in the organization. This
financial help is a good example of today’s changing: countries considered
before as from the "third world", are now having to rescue others economies and
are also consolidating their emerging power over some organizations controlled
before only by rich countries.
*Written based on the following texts:
G20 summit: US 'encouraged' by eurozone plans
posted in BBC News
Cúpula do G20 termina com maior acordo de
capitalização no FMI
posted in G1
Can Brics rival the G7?
by Amit Baruah - BBC Hindi editor
posted in BBC News
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