The creation of BRICS’ (Brazil, Russia, India, China and South Africa) own financial institutions was “a disappointment” for activists from the five countries, meeting in this northeastern Brazilian city after the group’s leaders concluded their sixth annual summit here.
The BRICS alliance (Brazil, Russia, India, China and South Africa) launched the New Development Bank (NDB) and Contingency Reserve Arrangement (CRA) during its sixth summit, institutionalising a new financial architecture for the emerging powers.
The growing vitality of the group of countries made up of Brazil, Russia, India, China and South Africa (BRICS), which is beginning to formalise its institutions even as it tries to bridge very disparate realities, seems to be partly cemented by increasing links between its companies.
The first common institutions to be set up by Brazil, Russia, India, China and South Africa – the BRICS – are financial, and have arisen as a result of reforms to an international system that continues to largely ignore the growing influence of emerging countries.
The seven-year-old got bored after running here and there for five minutes, amidst a group of a dozen classmates. He eventually stomped off the field because he hadn’t managed to kick the ball even once.
It seemed like “a good deal” at the time, but then things changed. That description of the 2006 purchase of a U.S. refinery, one of the oil industry scandals hanging over the Brazilian government’s head, could also apply to attitudes towards the FIFA World Cup.
Deforestation, especially in the Andean highlands of Bolivia and Peru, was the main driver of this year’s disastrous flooding in the Madeira river watershed in Bolivia’s Amazon rainforest and the drainage basin across the border, in Brazil.
“We are victims of progress,”complained Osmar Santos Coelho, known as Santico. His fishing community has disappeared, displaced to make way for a port complex on São Marcos bay, to the west of São Luis, the capital of the state of Maranhão in Brazil’s northeast.
The Carajás railroad, regarded as the most efficient in Brazil, runs a loss-making passenger service for the benefit of the population. But this does little to make amends for its original sin: it was created to export minerals and crosses an area of chronic poverty.
“My nephew was eight years old when he stepped in the ‘munha’ [charcoal dust] and burned his legs up to the knees,” said Angelita Alves de Oliveira from a corner of Brazil’s Amazonia that has become a deadly hazard for local people.
The Itaparica hydroelectric power plant occupied land belonging to the Pankararu indigenous people, but while others were compensated, they were not. They have lost land and access to the São Francisco river, charge native leaders in Paulo Afonso, a city in northeastern Brazil.
Valdenor de Melo has been waiting for 27 years for the land and cash compensation he is due because his old farm was left underwater when the Itaparica hydroelectric dam was built on the São Francisco river in Brazil’s semiarid Northeast.
As they build huge hydropower dams, the Brazilian government and companies have run into resistance from environmentalists, indigenous groups and social movements. But the binational Itaipú plant is an exception, where cooperation is the name of the game.
Everything indicates that the decisive battle between harnessing hydropower and preserving the Amazon will play out in the Tapajós river basin in Brazil. At stake there are a potential of nearly 30,000 MW and a vital part of the Amazon rainforest.
The massive Itaipú hydroelectric dam, shared by Brazil and Paraguay, has now become a model for the micro-scale production of an energy source that is not only clean, but also helps to reduce pollution and promote local development: biogas.