BRICS
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A multipolar world and the dollar
24 April 2023 - by Michael Roberts
Christine Lagarde, the head of the European Central bank (ECB), made an important ‘keynote’ speech last week to the US Council of Foreign Relations in New York. It was important because she analysed recent developments in global trade and (...) -
Emerging-market finance, neoliberal ideology and durable malgovernance at the BRICS New Development Bank
The BRICS spall, fall and (try to) reconstitute
11 July 2022 - by Patrick Bond
ABSTRACT: World financial relations were shaken up in early 2022 with Russia’s invasion of Ukraine, and one window through which light was shed on evolving geopolitics was the shifting power relations within the Brazil-Russia-India-China-South (...) -
The G7 prepares a divide-and-conquer trap, as BRICS countries spall, fall and try to reconstitute
24 June 2022 - by Patrick Bond
On Friday June 24, a hasty one-day virtual summit of the Brazil-Russia-India-China-South Africa will occur, hosted by Xi Jinping. The date is important because on Monday June 26, two of the three intrinsically pro-Western leaders from the bloc – (...) -
BRICS New Development Bank Corruption in South Africa
5 September 2021 - by Patrick Bond
1. Introduction: Raised – and dashed – expectations for the BRICS replacing Western banking In 2013 in Durban, at the heads-of-state summit of the Brazil-Russia-India-China-South Africa (BRICS) bloc, a New Development Bank (NDB) and Contingent (...) -
Western Imperialism and the Role of Sub-imperialism in the Global South
13 January 2021 - by Patrick Bond, Ana Garcia, Miguel Borba
AT FIRST BLUSH, JOE BIDEN’S ELECTION as U.S. president brings respite from a world threatened by Donald Trump’s climate-denialist, dictator-coddling, xenophobic, racist, misogynist, rules-breaking regime. On second thought, 2021 will also initiate (...) -
Subimperial BRICS enter the Bolsonaro-Putin-Modi-Xi-Ramaphosa Era
13 March 2020 - by Patrick Bond
Summary The concept of subimperialism has been explained by Ruy Mauro Marini and David Harvey using characteristics ranging across class structure, geopolitics and the displacement of overaccumulated capital, to which we add a vital (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 3)
The China Factor
22 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
The most crucial factor in whether South African SEZs succeed may well be the complicated role of China. There are three aspects worth discussing: overall demand; Chinese incoming FDI to South African SEZs (such as is driving Coega and (...) -
Does BRICS Banking offer an Alternative to the IMF and World Bank? Pessimistic Signals from South Africa
21 October 2019 - by Patrick Bond
1. Introduction After their 1944 birth at a New Hampshire hotel, the International Monetary Fund (IMF) and World Bank turned 75 years old this year, long past a reasonable retirement age. For the sake of global financial management, most (...) -
South Africa searches for a financial parachute, now that a $170 billion foreign debt cliff looms
18 December 2018 - by Patrick Bond
Johannesburg – This week’s hush-hush visit by International Monetary Fund Managing Director Christine Lagarde to Pretoria (between stops in Ghana and Angola) is mysterious. In contrast to last week’s IMF press briefing claim – “Madame Lagarde will (...) -
BRICS labour: is it time for more class snuggle – or struggle – in an era of repression, austerity and worker militancy?
18 July 2018 - by Patrick Bond
Across the world, trade unions are under unprecedented threat, as just witnessed in the United States where the Janus vs. AFSCME Supreme Court decision denudes an already weak labour movement of public sector power, for conservatives are aiming (...) -
“You dropping BRICS from above? We’re throwing bricks from below!”
26 June 2018 - by The BREAK the BRICS Coalition
The rapper Ewok captured the spirit of progressive social forces in South Africa with his condemnation elite politics at a March 2013 protest outside the Durban International Convention Centre, South Africa: “You dropping BRICS from above? We’re (...) -
BRICS in Africa: “You are either at the table or on the menu”
5 June 2018 - by Patrick Bond
At a Johannesburg BRICS think tank, scholars get drunk on their own rhetoric South African academics and think tanks met on 28-31 May 2018 for deliberations leading to the July 2018 BRICS heads of state summit to be hosted by South Africa. (...) -
Imperialism and Dependency: Similarities and Differences with the Marini era
8 May 2018 - by Claudio Katz, Richard Fidler
The main theorist of dependency anticipated trends of neoliberal globalization. He analyzed productive globalization, the centrality of exploitation and the relative weight of surplus value transfers. But the employment crisis exceeds what was (...) -
‘New imperialism’ debate suffers from the omission of subimperialism
The BRICS, global governance, accumulation, class struggle and resource extractivism
25 April 2018 - by Patrick Bond
An exceptionally interesting debate about how imperialism is now behaving. Two leading critics of imperialism – John Smith and David Harvey – have recently fought bitterly at the Review of African Political Economy website (http://roape.net) (...) -
China’s Overseas Expansion: An Introduction to its One Belt, One Road and BRICS Strategies
14 March 2018 - by Collective
Since China’s One Belt, One Road (OBOR) development strategy was first proposed in late 2013, it has increasingly attracted world attention as more and more countries have signed various cooperation agreements with China related to the project. (...) -
South Africa: Cyril Ramaphosa Relaunches Neo-Liberalism
28 February 2018 - by Patrick Bond
After Jacob Zuma’s Firing, South Africa Risks Budget Austerity and Even Renewed BRICS ‘Poisoning’ Cyril Ramaphosa’s soft-coup firing of Jacob Zuma from the South African presidency on February 14, after nearly nine years in power and a humiliating (...) -
A People’s Forum on OBOR and BRICS meets in Hong Kong
6 September 2017 - by Robin Lee
Over the weekend (2nd-3rd September) more than 100 participants met in Hong Kong for a People’s Forum on One Belt, One Road (OBOR) and BRICS. As BRICS leaders begin to meet for their 9th BRICS summit in Xiamen this week and the Hong Kong Trade (...) -
BRICS Xiamen summit doomed by centrifugal economics
30 August 2017 - by Patrick Bond
The Brazil-Russia-India-China-South Africa summit in Xiamen from September 3-5 is already inscribed with high tension thanks to Sino-Indian border conflicts. But regardless of a welcome new peace deal, centrifugal forces within the fast-whirling (...) -
Falling BRICS endanger their citizens’ health, starting with South Africa’s Jacob Zuma
21 August 2017 - by Patrick Bond
As he launched, South African President Jacob Zuma must have had mixed feelings. Strife-riven Brazil, Russia, India and China are more risky allies than Zuma reckoned when in 2010 he accepted Beijing’s invitation to join the club. “I was (...) -
The BRICS New Development Bank meets in Delhi, to dash green-developmental hopes?
30 March 2017 - by Patrick Bond
Will the Brazil-Russia-India-China-South Africa (BRICS) bloc ever really challenge the world financial order? The BRICS New Development Bank (NDB) leadership is meeting in New Delhi from 31 March to 2 April with a degree of fanfare unmatched by (...) -
Will Washington’s New Pro-Moscow, Anti-Beijing Gang Drive a Wedge Through the BRICS in 2017?
9 January 2017 - by Patrick Bond
The weeks following an underwhelming of local currency mismanagement; and sudden new foreign-policy divergences may wreak havoc in China and Russia. The BRICS bloc’s relations could well destabilise to the breaking point. Even before the next (...) -
BRICS failed to challenge imperialism: Medha Patkar
5 November 2016 - by Prakash Kamat
She accused that in all these countries, private corporations are increasingly taking control of democratic institutions. Activist Medha Patkar commented that BRICS has failed to challenge the hegemony of imperialist States. She accused that (...) -
BRICS fantasies and unintended revelations
25 October 2016 - by Patrick Bond
As the leaders of Brazil, Russia, India, China and South Africa meet this weekend (8th-9th of september) for a summit in India, one consistency is observable from all the BRICS elites: A stream of anti-imperialist chatter even when the intent is (...) -
BRICS banking and the debate over sub-imperialism
15 September 2016 - by Patrick Bond
ABSTRACT: Notionally funded at $100 billion each, the BRICS Contingent Reserve Arrangement (CRA) and New Development Bank (NDB) represent ‘sub-imperial’ finance, insofar as by all indications they fit into – instead of providing alternatives to – (...) -
UNCTAD14: A mirage of distorting mirrors
12 September 2016 - by Yash Tandon
People not versed in the complexities of the diplomatic world of distorted mirror images in Geneva or Accra or Nairobi may wonder in awe at the agreements negotiated in their name by their representatives in multilateral forums like UNCTAD. But, (...)
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