Published on The Bullet, Socialist Project’s e-bulletin no. 1029, by Leo Panitch, Aug 31, 2014.
International attention has been diverted away from this year’s G20 meetings in Australia by the declaration from the leaders of Brazil, Russia, India, China and South Africa, at their meeting in Fortaleza Brazil this July, that they would launch a new “BRICS bank.”
Created by the U.S. Treasury in the wake of the Asian financial crisis at the end of the 1990s, the G20 was designed to get the major “emerging market” states to take responsibility alongside the G7 for the “new international financial architecture.” This was seen as providing legitimacy for the continuing central role of the U.S. in superintending a greatly expanded but increasingly volatile global capitalism … // Continuer la lecture de « The U.S. Still Decides the Future of Capitalism, Not the G20, and Not the BRICS Nations »