The State's Worst Atrocity - By Llewellyn H. Rockwell, Jr. (4/8/14) PDF Print E-mail
Llewellyn H. Rockwell, Jr.   
Monday, 04 August 2014 09:44

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EU Must Work With Russia To Prevent Global Sundering - French Economist - By RIA Novosti (2/8/14) PDF Print E-mail
RIA Novosti   
Saturday, 02 August 2014 09:22

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BRICS 2009-2014: Five Years Of Lost Opportunities For Europe … - By Euro-BRICS (2/8/14) PDF Print E-mail
Euro-BRICS   
Saturday, 02 August 2014 09:18

When the BRIC launched their own club in 2009[1], their goal was pretty simple: to provide a group strong enough to initiate and drive the reform of the global governance institutions. This dynamic alliance intended to pursue their adjustment to the new realities of a multi-polar world in which they were the main actors: to reconcile voting weight and financial participation in the IMF[2] and the World Bank, to integrate the  constraints of the new powers in this WTO[3] “philosophy” and to involve the dollar in a basket of currencies of significant world economies in order to create a new international trading currency, a stronger and more representative[4] one…

This train of thought was not meant to fundamentally challenge the previous “American” system. They were recognizing its pre-existence and were proposing to complete it in order to make it viable according to the characteristics of the 21st century world. The BRICS project should have been perceived as a rejuvenation of the previous system[5].

Five years later the BRICS admit their failure on their collaborative proposals. Despite its Brazilian president, the WTO is currently unable to “civilize” the globalization process largely responsible for the global socio-economic imbalances[6]. The political paralysis prevents the U.S. Congress from voting for changes concerning U.S. voting weights within the IMF[7]. A reform of the international monetary system depending on the United States seems totally impossible[8] …



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New World Order At Stake Of US-Russia Geopolitical Competition - By RIA Novosti (2/8/14) PDF Print E-mail
RIA Novosti   
Saturday, 02 August 2014 09:16

The confrontation between Moscow and Washington over the Ukrainian internal strife will doubtlessly shift the global balance of power, believes Dmitri Trenin, a well-known Russian political scientist, author, and the Director of the Carnegie Moscow Center.

"The current US-Russia struggle is about a new international order," and Ukraine is the "main battleground" where the two global players are setting new rules and conditions, writes Dmitri Trenin in his article "Europe's Nightmare Coming True: America vs. Russia…Again," published in the National Interest, a reputable American media outlet.

However, it's not Ukraine but Europe as a whole has become the central pivot of geopolitical competition, stresses the expert. "The stakes could not be any high," he adds.

Trenin envisions further aggravation of Russia-EU relations, deliberately instigated by Washington, in a short-term perspective. This tendency, however, may change in the long run: "Moscow may hope that the US-led punishment of Russia, coming as it does mainly at the expense of the EU's trade with it, can lead to Transatlantic and intra-EU divisions," writes Dmitri Trenin.



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US-Led Vs. China-Led Economic Architecture: Case For New Bretton Woods? - By Pradumna Bickram Rana (2/8/14) PDF Print E-mail
Pradumna Bickram Rana   
Saturday, 02 August 2014 09:13

RSIS

With the US and China locking each other out of the economic architecture that they have helped to design, the case for a New Bretton Woods has strengthened.

The Bretton Woods agreement, 70 years old this month, had established institutions to promote law and order in international economic relations: the IMF to promote macroeconomic stability, the GATT (and its successor, the WTO) to ensure an open trading environment, and the World Bank to provide development finance for poverty reduction.

The smooth operation of this rules-based global economic architecture led by the US contributed to the unprecedented economic growth and prosperity worldwide in the post-World War II period.

Declining legitimacy of the US-led architecture



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