BRIC City

My new favorite news source, Global Post, has an interesting story about the rising economic powers, the BRICs.  (That stands for Brazil, Russia, India and China for those of you who don’t care for the kinds of silly acronyms to which comparative politics professors and Thomas Friedman are prone.)

So despite the ongoing global financial crisis — which, to be sure, has damaged these high-flyers too — the BRICs have most definitely arrived. And, yes, they are here to stay.

That point has been reinforced again and again in recent days and weeks. And one thing is clear whether it’s spoken in Mandarin, Russian, Hindi or Portuguese: the BRICs want a bigger say in how to manage the global economy.

Two weeks ago at the G20 finance minister’s meeting in Horsham, England the BRIC countries — for the first time — released their own communique on how the global economic crisis should be managed. In it, they called for a bigger voice.

It makes sense that these countries want a bigger role in the global economy.  They are important.  Then, later today, I saw a headline on Drudge Report that said “Brazil president blames white people for economic crisis…

President Lula:

“This crisis was caused by the irrational behaviour of white people with blue eyes, who before the crisis appeared to know everything and now demonstrate that they know nothing.”

He added: “I do not know any black or indigenous bankers so I can only say [it is wrong] that this part of mankind which is victimised more than any other should pay for the crisis.”

You know, you can’t argue with facts.

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Filed under Asia, Economy, Latin America

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