Fruits of Kazan

31 Thursday Oct 2024

Posted by perrinlovett in Legal/Political Columns

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Leonid Savin wrote a few excellent words about the recent BRICSening in Kazan.

The current meeting of the informal association of ten countries has become a breakthrough in many ways. The year of Russia’s presidency in this club, despite the attempts of the collective West to win over the countries of the Global South and the massive information war, has shown significant interest in full-fledged participation in this structure. 35 countries have already asked to be admitted to BRICS as full participants. In total, representatives of 36 states arrived at BRICS Summit in Kazan, of which 22 countries were represented directly by their leaders, as well as representatives of six international organizations, where special attention was paid by the world media to the appearance of the UN Secretary General. The reports of the chairmen of the New Development Bank, the Business Council, the Interbank Cooperation Mechanism, the Women’s Business Alliance were heard, bilateral meetings of the leaders of the countries were held, as well as BRICS Plus/Outreach plenary session with the participation of the leaders of the CIS countries, delegations from many countries of Asia, Africa, the Middle East and Latin America, heads of executive bodies of a number of international organizations.

13 countries at the summit have already received the status of a BRICS partner country. These are Turkey, Kazakhstan, Uzbekistan, Algeria, Belarus, Bolivia, Cuba, Indonesia, Malaysia, Nigeria, Thailand, Uganda and Vietnam. As you can see, the size of the country and the state of their economies do not depend on the decision on such a status.

After the meeting between Vladimir Putin and Xi Jinping (it is necessary to single out Russia and China as close partners within BRICS, who also actively oppose the hegemony of the United States), the Russian President noted that Russian–Chinese relations have become a model of how relations between states should be built in the modern world; cooperation between the two countries is one of the main stabilizing factors on the world stage. “We intend to further enhance coordination on all multilateral platforms in order to ensure global security and a just world order,“ and that “over the years of our joint work, the authority and influence of BRICS has increased.“

Read the whole thing, it’s the beginning of a new world. Putin also had a little meeting with Xi and Modi of Indian. The result is the beginning of the end of long-simmering border disputes between China and India. The decisions made last week in Russia are already being implemented.

China and India recently reached resolutions on relevant issues concerning the border. At the moment, the Chinese and Indian frontier troops are implementing the resolutions in an orderly way, Chinese Foreign Ministry spokesperson Lin Jian said at a press conference on Wednesday in response to a question regarding reports that China and India may complete the disengagement process in border area today.

Lin said at a press conference on October 22 that over a recent period of time, China and India have reached resolutions on issues concerning the border area following close communication through diplomatic and military channels. China commends the progress made and will continue working with India for the sound implementation of these resolutions, he said.

India Today reported on Wednesday that Indian and Chinese military commanders are scheduled to meet at the Line of Actual Control (LAC) in Depsang and Demchok (known as Tiannan River Valley and Dianjiao village in China) to confirm the removal of temporary structures and vehicles in the region.

This is just a hint of the things that can be accomplished with relative ease so long as idiotic satanists aren’t allowed to participate of dictate “rules-based” terms. Congrats, Sovereign World!

Also, Happy All Saint’s Eve!

Kazan is Coming

16 Wednesday Oct 2024

Posted by perrinlovett in Legal/Political Columns

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BRICS, economics, Kazan

Next week, if I’m not mistaken. I, of course, won’t be there. But the movers and shakers of the multipolar world will, and they will likely unveil continuing changes to the international monetary and economic order. Please read this partly Chinese-based assessment of where things now stand.

As is well-known, de-dollarisation has become a hot topic since 2022, when the United States and Europeans decided to block a large part of Russia’s international reserves in response to the invasion of Ukraine, as described by Yu Yongding. Western officials and experts have traditionally lectured developing countries about the need to adopt ‘confidence-building’ policies and to respect property rights. In retrospect, this is truly amazing. The freezing of Russian assets and the more recent threats to move towards outright confiscation are major ‘confidence-destroying’ steps, doing great harm to the US dollar and the Euro. These actions set off an alarm for countries like China, a major holder of US dollar bonds as part of its international reserves. Any country experiencing conflicts with the US and the rest of the West immediately realised that steps were needed to reduce their reliance on the US dollar and the Western financial system. Efforts were intensified in many parts of the world to use national currencies in international transactions, to build or reinforce alternative payments systems, to rely more on the Chinese renminbi, and even to create a new BRICS reference currency. Undeniably, what we have seen is a major self-inflicted blow by the US and Europe. The three Chinese professors have made in their papers significant contributions to the discussion of all these challenges.

The popularity of the topic of de-dollarisation in wider circles and in the media is not usually accompanied by an understanding of its complexity. There is a widespread expectation that the BRICS will develop, in the near future, an alternative to the US dollar. But is this expectation realistic? Perhaps not.

The goal isn’t or shouldn’t be to replace the dollar – with something of like kind. The postmodern dollar is a one-off irregularity in monetary history and a disaster not to be repeated. By the end of this month, we’ll probably have a better idea of what happens next. Of course, that depends on many chaotic factors (like how long it takes for the US to completely break up). Interesting times.