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Global Shift In The Balance Of Power Is Moving From West...

AFRICANGLOBE - A major recent event last week largely went unnoticed by both MSM and independent news sources alike. The British are apparently jumping ship away from the US dollar/petrodollar. America’s mother country England has seen the writing on the wall and knows the global balance of power is rapidly tilting in favor of where the sun always rises in the East.

The End Of Western Dominance Of The Global Financial And Economic...

The Fortaleza Summit marks the beginning of the end of the post-Second World War Western dominance of the global economic and financial order. The existing institutions will now have to share space with the new entrants and may be compelled to adjust their norms to compete with the latter.

BRICS Group To Establish New Development Bank

AFRICANGLOBE - Leaders of the BRICS group of emerging powers on Tuesday created a Shanghai-based development bank and a reserve fund seen as counterweights to Western-led financial institutions.

Upstarts Emerge To Topple BRICS

AFRICANGLOBE - Indonesia, Bangladesh and Ethiopia are among 10 countries set to take over as emerging economies from the powerful BRICS nations as they struggle with growing pains, a French credit body said yesterday.

Africa: The G20 and the Struggle for Global Influence

At a recent meeting of G20 think tanks in Beijing, participants noted that if the G20 countries wished to build on their collective success in the management of the global financial crisis, they needed to focus on global trade and finance reform - matters that cut to the core of global economic governance.

Economic Focus Should Shift From BRICS to the Emerging African Markets

AFRICANGLOBE - Just as the green shoots of recovery are appearing in the UK, and positively sprouting upwards in the US, so it seems that the so-called BRICS economies – Brazil, Russia, India, China and South Africa – are slowing.

New Chinese President Courts Africa

AFRICANGLOBE - Under George W. Bush, and now Obama, Washington has more openly turned to military means to thwart China’s growing influence in Africa. A separate US military command, AFRICOM, was established in 2007 as a direct response to first China-Africa summit in 2006, to which Beijing invited the head of states of more than 50 countries.

The BRICS and Africa’s Growth Dilemma

AFRICANGLOBE - The growth debate rages on throughout the African continent. Ever since the international consulting company McKinsey published its widely cited report 'Lions on the Move' in 2010 and The Economist popularized Africa's growth statistics (especially Africa's GDP projections), there has been a palpable sense of pride in what used to be world's lost continent.

BRICS : Did the ANC Sell-Out to International Capital

AFRICANGLOBE - The ANC embraced neo-liberal capitalism unreservedly in 1994. Similar to the 1884 Berlin conference, the forthcoming BRICS summit in Durban will seek to divide the continent with one common objective: efficient resource extraction through export-oriented infrastructure for continued capitalist exploitation that will enrich a minority and not the masses.

South Africa Leads African Competitiveness

South Africa is the highest-ranked African country and third-placed among the BRICS economies in the World Economic Forum's (WEF's) latest Global Competitiveness Index, ranking...

Africa – Russia Relations Floundering

A lack of focus and interest are hindering what could be a mutually beneficial economic and political relationship between African and Russia. Russia does not...

South Africa Looks East for Economic Partnership

Lethargy in US and European markets has pushed the South Africa's ANC government to fast-track deeper ties with Asia, but not everyone is convinced...

New Brics Bank ‘To Boost South Africa’

The development bank planned by members of the BRICS group of influential emerging economies could help South Africa finance its state-led infrastructure drive, says...

BRICS – Can Africa Join This League?

AFRICANGLOBE - The last few years have seen rapid economic growth of BRICS countries and a recent paradigm shift of power towards these countries. The recent Euro-zone crisis has further reinforced this position with European leaders during the euro-zone crisis summit, held in Brussels late last year, and the G-20 summit in Cannes, France making a plea to China to come to their aid and structure a bailout package considering the country has vast currency reserves.

More Than Just Another BRIC on the Wall

South Africa is set to benefit in the next 10 to 15 years from major investment in infrastructure and manufacturing from the BRICS grouping – Brazil, Russia, India, China and now SA – which represents 42% of the world's population and 18% of its GDP.

BRICS membership 'to stimulate tourism'

South Africa's membership of the BRICS grouping of influential developing countries will have a positive impact on the local tourism industry, says South African...