QUESTION OF THE DAY? By: Professor Dr. Gholam Mujtaba Does BRICS (Brazil, Russia, India, China & South Africa) pose a POTENTIAL THREAT to established economies? There seems to be potentially huge implications for a global financial system, where the U.S. dollar accounts for 62 percent of reserve assets. In this global economic war, fast realignments are taking place. The inclination of failing economies like Pakistan, and the U.S. adversaries like Iran are already in that group. TAPI (Turkmenistan Afghanistan-Pakistan-India) Pipeline project may not materialize in the presence of a strong support for Iran-Pakistan Gas Pipeline linking China. The intentions of the present Pakistani government was made clear by their Federal Minister after meeting his Iranian counterpart. There are attempts to handover Gwader port to China, thus securing Central Asia under the shadows of BRICS. Strengthening Pakistan India relationship under Indian hegemony, and writing off the Kashmir dispute with India, the present Pakistani government is helping BRICS to grow stronger. However, any trade link from Gwader has to pass through Baluchistan and Afghanistan. It looks difficult to achieve those objectives, if the Good Talibans takeover Afghanistan with the tacit approval of the western nations. Whether, one likes it or not, the presence of good Taliban is an antidote to BRICS. In case of a loss at the Congress to secure required number of 217 votes by the President, there seems to be no other option in maintaining U.S. hegemony in that region. Finally, I must say that the approval of airstrikes on Syria matters a lot to global economic intervention needed to preserve U.S. interests, and the interests of its allies, which includes OPEC (Oil Producing Nations). On a secondary note, to me, it is clear that Iran will cease this opportunity to embolden its brand of Islam in the Middle East during this process with the help of the BRICS. reuters/article/2013/09/05/us-mp-g20-brics-idUSBRE9840E020130905
Posted on: Fri, 06 Sep 2013 02:22:03 +0000
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