Sunday, 1 April 2012

BRICS Challenges the World Order


Strategic Culture Foundation - Melkulangara Bhadrakumar:
"The West has never been spoken to like this before in all these centuries since the Industrial Revolution. The tides of history are, clearly, turning. The Delhi Declaration suggests: 'We believe that it is critical for advanced economies to adopt responsible macroeconomic and financial policies, avoid creating excessive global liquidity and undertake structural reforms to lift growth that create jobs. We draw attention to the risks of large and volatile cross-border capital flows being faced by the emerging economies. We call for further international financial regulatory oversight and reform, strengthening policy coordination and financial regulation and supervision cooperation, and promoting the sound development of global financial markets and banking systems'.”