{"id":41355,"date":"2015-02-08T21:47:09","date_gmt":"2015-02-09T03:47:09","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=41355"},"modified":"2015-02-08T14:30:29","modified_gmt":"2015-02-08T21:30:29","slug":"world-of-economy-and-brics","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2015\/02\/08\/world-of-economy-and-brics\/","title":{"rendered":"World of Economy and BRICS"},"content":{"rendered":"

Victor Samarakone<\/strong><\/em><\/span><\/h2>\n

\u00a0After long time of silently talking about the World Economy, now I am thinking to let the Genie out of the bottle.\u00a0 World economy is in danger in collapsing. I can say this with surety because I was following this for the last 25 years.\u00a0 World is in critical stage and figuring out how to come up with better system.\u00a0 I saw how World Bank and IMF has been trying to destroy developing countries in the name of helping those economies.\u00a0 Today, world is more matured than 10 years ago. Financially powerful countries know that they cannot manipulate the people and the economies into borrowing more money from World Bank, IMF and other financial institutions by way of loans.<\/span><\/p>\n

\u00a0World entered 1970\u2019s from gold dominated economy to free exchange money transactions.\u00a0 From that time I had numerous discussions about currency effects on the countries and destruction of their economies if they do not plan their economies based on global competition.\u00a0 I traveled to more than thirty countries and talked with many government officials and people who explained to me how their living standards were effected.<\/span><\/p>\n

\u00a0Amazingly, China overtook the world economy and started helping many countries to develop infrastructure from their own program.\u00a0 Most countries had such poor infrastructure that they did not know how to bring back and reorganize such infrastructure in a productive and constructive way.\u00a0 Previously their infrastructure had been destroyed because of such parasitical condition dictated by IMF and World Bank to provide loans.<\/span><\/p>\n

\u00a0In 1995, I was talking about a global realignment based on regions like Asia, Russia with neighbors (CIS countries), South America, Africa, Europe, North America and Middle East.\u00a0 At that time I indicated that the world will regionalize in 10 to 15 years.\u00a0 Today you can see BRICS (Russia, China, India, Africa, and Brazil) 5 regionally major countries, started a unification to create a different type of economy. \u00a0At the same time I was talking with my students and my colleagues about GDP calculation carried out by IMF. These calculations that were made, based on dollar is financially and economically wrong. It is the time for BRICS bank to start re-calculating the GDP based on their real economies.<\/span><\/p>\n

\u00a0These 5 regions mentioned above consist of roughly 150 countries. Today the world is waking up to solve their own problems.\u00a0 Today the world needs peaceful solutions, based on regions, without the bottle necks.\u00a0 Freedom of the society is based on freedom of people to live without exploitation by others.\u00a0 Some people say that democracy is the answer. I say that freedom to live with market oriented entrepreneurial society will bring prosperity with own kind of freedom of movement.\u00a0 Today most of the politics is not freedom of the choice, it is more like freedom for scams created and carried out to loot the population.\u00a0 I worked in Africa where I saw poor people did not depend on government they worked, were happy with what they earned and lived in simplicity.\u00a0 For the last 35 years my favorite statement is that \u2018culture is for entertainment and not for practice\u2019.<\/span><\/p>\n

\u00a0BRICS bank can bring change of monetary system of the countries. At the same time the five countries involved need to create the Basket of Currencies to stabilize the BRICS currencies.\u00a0 Then other countries can peg into BRICS currencies to stabilize their own economies.\u00a0 Otherwise I can see grave consequences for other countries depending on BRICS Bank.\u00a0 Recently I saw rapid fluctuation of Japanese currency with Gold. This was not due to Oil.\u00a0 When we look through the data we will see that something is wrong with this currency fluctuation. \u00a0It is almost like somebody or some organizations is trying to manipulate the currency to pull down the Asian economies. \u00a0<\/span><\/p>\n

\u00a0Another thing is that the world needs new war crime tribunal. I noticed ICC failed utterly in their job.\u00a0 Presently the best country to have this tribunal is Argentina.\u00a0 Argentina went through abuses from it one time military government.<\/span><\/p>\n

\u00a0Victor Samarakone,<\/strong> is a Adjunct Professor at Fairly Dickinson University, New Jersey, traveled more than 30 countries and use to work in UN and other countries broad knowledge in world politics and development.\u00a0 The opinions expressed are his own.<\/strong><\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Victor Samarakone \u00a0After long time of silently talking about the World Economy, now I am thinking to let the Genie out of the bottle.\u00a0 World economy is in danger in collapsing. I can say this with surety because I was following this for the last 25 years.\u00a0 World is in critical stage and figuring out […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-41355","post","type-post","status-publish","format-standard","hentry","category-forum"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/41355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=41355"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/41355\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=41355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=41355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=41355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}