rt.com / By Pepe Escobar / Published time: March 28, 2013 01:29
The BRICS Development Bank is the beginning of the end of the existing monetary management system, Asia Times correspondent Pepe Escobar told RT.
RT: There’s no doubt about it, these countries that form the BRICS, they haven’t got a lot in common have they? They’ve all got different styles of government indeed some of them are economic rivals. Are they really a group to be taken seriously?
Pepe Escobar: From now on yes, let’s say until this summit in Durban, there was a lot of political talk of course and the BRICS are basically an economic group in the making. Now it’s different, now they have clear sound, actual policies to be implemented.
This alternative to the World Bank and the IMF is absolutely essential, this is the beginning of the end of the Bretton Woods system and is to be supported by the next BRICS, the MIST, the Mexico, Indonesia, South Korea and Turkey and the next MISTS as well.
These are the tectonic plates of geopolitics and geo-economics, they are changing, and it’s not Atlantasist anymore. It’s the emergence, the re-emergence finally of the South. I’m reading a fantastic book about that as we speak, I’m going to write about it probably tomorrow, by Vijay Prashad and he explains in detail over 300 pages how the South has been completely undermined and attacked in fact by the North, since the end of the Second World War and now for the past few years at least with the best neo liberalism in fact all over the place, failed policies. Now the South has started to organize itself.
Thanks to BrotherJohnF