The BRICS group is still young as an organization, but has already proven its effectiveness. Brazil, Russia, India, China, and South Africa are coordinating their policies on key international issues ever more closely, and are playing an active part in shaping a multipolar world order and developing modern models for the world’s financial and trading systems.
Thursday, April 18, 2019
Russia and China Increasing Gold Reserves
In what has been called the ‘ new international gold rush, ‘ Russia and China are leading the world in buying gold. ‘ This comes at a time when there is plenty of speculation about a gold-backed digital currency being released by the two countries
Last month, I wrote about the growing divide between economic theory and real-world economic conditions, and reminded readers that economics is still a social science, despite whatever loftier ambitions its practitioners may have. Nonetheless, when it comes to the specific question of what drives economic growth in the long term, one can still offer rigorous predictions by focusing on just two forces
The European Union gave way to member states of BRICS, Commonwealth of Independent States (CIS) and the countries of the Asia-Pacific region as Russia's main trading partners, Russian Foreign minister Sergey Lavrov said
Notions of the ‘Global South’ and the ‘Global North’ seem to have substituted the preceding geopolitical concept of an East-West division and the theory of First, Second and Third Worlds. Nevertheless, these notions remain extremely problematic