BRICS and the Shanghai Cooperation Organization (SCO) Challenge U.S. Global Dominance

United States military aggression globally is stimulating the creation of a new international economic order that could serve as a viable alternative to the present Western-dominated version. Washington’s surrounding of both Russia and China with military bases and warships, its severe economic sanctions against Russia and Iran (a close Russian ally), and its attacks on Syria (a Russian and Iranian ally) are accelerating the consolidation of the BRICS country alliance (Brazil, Russia, India, China and South Africa), as well as the expansion of the Shanghai Cooperation Organization (SCO) that now includes about half of the world’s population.

In May, BRICS members Russia (the world’s biggest energy producer) and China (the world’s biggest energy consumer) signed a $400 billion energy agreement in which Gazprom, the large Russian state energy company, agreed to supply China National Petroleum Corporation (CNPC) with 3.75 billion cubic feet of liquefied natural gas a day for 30 years. That equals a quarter of Russia’s huge gas exports to Europe.

Crucially, the gas deal was sealed in yuan and rubles, which worries the U.S. Most oil and gas trade happens in U.S. dollars and the requirement for countries to stock U.S. currency to pay for energy gives the U.S. enormous economic power. The Russia–China energy deal is a significant—and very intentional—step away from this setup. As Pepe Escobar, correspondent for Asia Times, put it in one article,

“Russian President Vladimir Putin and [Chinese President Xi Jinping]… are scaring the hell out of the ‘Empire of Chaos.’ No wonder; their number one shared priority is to dent the hegemony of the U.S. dollar—and especially the petrodollar—in the global financial system.”

Escobar remarked the deal creates a “tectonic shift,” with Asia’s vast pipeline network, “intersecting with a growing Sino-Russian political-economic-energy partnership. Along with it goes the future possibility of a push, led again by China and Russia, toward a new international reserve currency—actually a basket of currencies—that would supersede the dollar.”

Peter Koenig, an economist and former employee (of 30 years) of the U.S.-dominated World Bank, told me the Russia–China energy deal is:

“symbolic, because Russia’s total hydrocarbon trading per year alone amounts to about US$1 trillion. It is also a demonstration to the world that Russia and China are morphing into a strong alliance in trade, politics and defence. In that sense yes, the gas deal is clearly undermining the dollar.”

Koenig explained there is a “massive effort of de-dollarization” happening within the BRICS that is led by China and Russia, which have been swapping sizeable amounts of ruble and yuan since June 2014. (In October, the Chinese and Russian central banks signed a three-year, 150 billion yuan bilateral local currency swap deal.) He pointed out that in July, Elvira Nabiullina, governor of the Russian Central Bank, said she was discussing the idea of similar arrangements with other BRICS countries, and that, in her words, “a part of the currency reserves can be directed to [the new system].”

“This signals the beginning of a new monetary system which eventually will issue its own currency, possibly a basket of currencies, akin to the Special Drawing Rights (SDR) of the International Monetary Fund (IMF) that could gradually replace the dollar as a reserve currency,” said Koenig. “This is in fact already happening. Ten years ago, 90% of the world’s reserves were in dollar denominated securities. Today that figure has shrunk to 60%.”

The IMF has reported that since 2003, reserves in other currencies in emerging markets have shot up by 400%. In the six months leading up to February 2014, South Korea increased its yuan holdings 25-fold.

“The chances are good that a BRICS currency will eventually displace the dollar as ‘world currency,’ in other words as currency of reference and major reserve currency,” Koenig told me. “Once the new money is established with a secure exchange and transaction system… it is very likely that many countries that so far do not dare abandon the dollar (for fear of sanctions) might join the new money pool, thereby strengthening it.”

This would be a good thing, according to the economist.

“It is high time that the currency of worldwide theft, abuse and exploitation—the U.S. dollar, financial instrument for endless wars and economic terrorism—be replaced with a currency of peaceful endeavors that respects national sovereignty, a currency that works for the people, not for the elite.”

According to Escobar, the BRICS countries want to become a counterforce to the G7 western powers and the global economic architecture established after the Second World War.

http://www.globalresearch.ca/brics-and-the-shanghai-cooperation-organization-sco-challenge-u-s-global-dominance/5415550

Comment -Mr Christopher Gill we are contributing this comment because we know/very aware of your USA education, close relatives, friends, acquaintance who feel they are being betrayed with the issues of BRICS, we simply say we wishes you were there as our school companion/friend when we had noting or when we could afford some moulouk, gateau piman, nugat, fruit, others whatever we had, how we share with those who did not have - this is the principle our grand parents brought us upon. It is a very deep approach to life, existence and living. Remaining on the school/childhood experience - when another school friend sent you on an errand buy whatever they gave you a little something to say thank you/appreciation - for the past 30 years my little person now old have helped the USA, the West, Europe, Russia, China, Africa and Latin america resolves issues of historic proportion, make wealth to feed and house their populations - nobody/none of them have ever said a thank you - yet one ought to know whom you send on errands to buy your sweets, nugat and gateau piman. Instead they want to turn your person and knowledge into slave and nerd. This is our life experience this January 2015 - just one little thing, the very many Europe, west institutions we have been seeking/asking for help to resettle on mainland Europe they refusal - had this taken place Sechelles Seychelles would have been very different place, Europe very different and that BRIC structure/concept very long back in place. As children however go our parents and education many issues we just do not grasp/understand - later life lesson ans we grow older and prepared to listen - be it the West or East know there are very many highly regulatory inbuilt discipline/synergy dynamic within a given or numerous issues - how the correlate and interact - those who think they have the power to abuse and totally control - life, divinity, nature and the system one works with bring then to listen and come to term adjust their ways/practices. Even the church institutions is not immune to the vast complexities of regulatory mechanism or the Illuminati.

A thousand aid groups launch ‘action/2015’

We have been addressing the issues of BRICS, some 27 years ago events surrounding the changes in former COMECON, USSR, Yugoslavia - had President Gorbachev been able to/accepted to formulate an alternative new economic future for his and those countries - including relevant supporting institutions the world would have changed very differently - the scientific aspect of such changes on ecology, environment and vast many other issues. After 27 years we have BRICS in  place

We have noted those leading and supposedly elite personalities from the West who have called and supporting the action for Action/2015 - our question where were those people in 1978/9 until 1991/1993 - the majority   calling for the changes and greater accountability their respective education, benchmark and approach to life - because you get media attention , publicity does not mean you are good - you are good by their standard and values.

We have been writing since 1991, then President Bill Clinton coming to Office, seeking the USA help to address and review that SIROP program - what took place and events - including the historic /famous issues of Nelson Mandela, South Africa, the ANC, the Pan African Congress, the OAU, Reginald Olivier Tambo and many other important African issues not what the press and other have written as history and for the world to think as history - because they are very very sacred, so they keep building lies upon lies just as Government officials do/work. Those in USA who think education/knowledge is only their God given rights. The ability to act in their world.  We have been involved in the Live Aid 1 and 2, the issues of Africa debt write off very many other issues - what about our role to help deploy that WWW. All those taking part their very corrupted and dishonest practice. We were brought up to call "a pair of shoe a pair of shoe not a house, a garlic head is a garlic head not an onion head or whatever, smelly shoes are smelly shoes and stinking socks stinking socks " - our ancestors were European/French and the contribute to build that USA, Canada, Quebec and the many International Institutions which make up the world. How we have been using the same mechanism and system our ancestors have been using 1000/500 years ago yet those involve in Action/2015 suddenly they want to teach the world how to talk  and think where did they learn it from acquirer such great wisdom.

We have been writing to very many of those of you involved in that Action/2015 for the past 25 years help us support that we migrate and settle on the continent then you will see the many change in the world and Europe - nobody reply and listen- all they know how to manipulate our issues, make massive wealth, build their personality and interested and then garbage the world.

We have written of what really triggered that 9/11 and very many other issues that 2004/5 Earthquake and Tsunami, the death and carnage, the very recent issues of the Charlie Hebdo how is was triggered and events leading to it,  why want those of you read and listen.  - we did not rave/rage about it we have written and it is out their on the web - none of you are prepared to listen. { We will be blunt those of you who dare in 1982 to 1991 we found the need to set up a Masonic Mobile Lodge this we did - because we did not affiliate to the commonwealth Lodge hence the outcast of our person  and those of you who know masonic workings}

There is still time - we contributed to the Facebook Platform, your Google and your Yahoo and very many others - yet those who write the news - if you are that serious and sincere why not support our call by the Paneuropean Union to get EU parliament and Council of Europe for a Review of that SIROP program - what are you all scared of/about.

You have all become no better than the very people and Institutions you criticize and demand accountability. You wait and want other do the dirty work for you then use you highly corrupted media take credit and the lime light.

More than a thousand global development aid and philantropic organisations around the world launched  a campaign today (15 January) named action/2015, which is likely to be one of the largest ever launched.

http://www.euractiv.com/sections/development-policy/thousand-organisations-launch-action2015-311284

Action/2015 | Ending Poverty, Inequalities & Climate
http://www.action2015.org/

Global launch today of 'action/2015' - Nation Home
http://www.nation.sc/article.html?id=244213


Advocacy groups launch global anti-poverty campaign - FT ...

http://www.ft.com/cms/s/0/0e4cd3de-9bfd-11e4-b6cc-00144feabdc0.html#axzz3OtRoQbIv


Over 1,000 civil society groups launch campaign for climate ...
http://www.businessgreen.com/bg/news/2390356/over-1-000-civil-society-groups-launch-campaign-for-climate-action

Celebrities push to make 2015 year of action on poverty and ...
http://www.theguardian.com/global-development/2015/jan/14/action-2015-poverty-climate-change-united-nations-summits

Mobilizing for our future: An interview with Action/2015
http://www.ong-ngo.org/en/espanol-movilizarnos-por-nuestro-futuro-una-entrevista-con-action2015/