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Group of Emerging Nations Plans to Form Development Bank
JOHANNESBURG — A group of five emerging world economic powers met in Africa for the first time Tuesday, gathering in South Africa for a summit meeting at which they plan to announce the creation of a new development bank, a direct challenge to the dominance of the World Bank and the International Monetary Fund
The leaders of Brazil, Russia, India, China and South Africa, all members of the so-called BRICS Group of developing nations, have agreed to create the bank to focus on infrastructure and development in emerging markets. The countries are also planning to discuss pooling their foreign reserves as a bulwark against currency crises, part of a growing effort by emerging economic powers to build institutions and forums that are alternatives to Western-dominated ones.
This sound good and must done us alternative we are sick of those influential corrupt rate institute. The game is over.
BRICS is an idea whose time has come. But its importance is more political than economic. As pointed out in the main article, the economic similarities among the member countries are very small, and the ideological affinities even smaller. What would likely emerge, however, is an intensified trade relationship between Brazil and China on one hand, and between India and South Africa on the other. Russia’s trade with all of the member countries will end up being in arms supplies. India already has its version of the SU29 and more advanced versions of same; South Africa will now be maintaining Russian helicopters; China is acquiring a number of the SU35; and Brazil has plans to cooperate with Russia in the area of nuclear technology. As a result, the formation of a bank by the BRICS countries is mainly to facilitate these possible trades using local currencies. That is usually more problematic than it generally appears. Sooner or later, fissures will emerge.
The political impact of the pact, however, could be very significant assuming the BRICS can set aside the competition among and between themselves. India and China are political competitors, Russia and China had been geopolitical competitors. But the binding force among the BRICS will be Brazil–a country that has set a high trajectory of development pathway for itself. It will be the country to watch as it emerges to become the most influential of the five!
Better not to be a last nor a first, the ideology of such integration would be toward dissolving a variation of currency across countries step by step and enhance globalization. The West (call it as you like) has high link with India in many direction: uranium, education and business. Russia undertake surveillance of oil, gas and minerals in Africa while the West and other eastern involve in the extraction of those resources. WB supports road and railway construction in the form of loan, China participates in the physical implementation, and Brazil helps in oil extractions in Africa. SA merely holds a political position but no economic power internally [ ].
The big disadvantage of such move is the LDCs are unable to trade with high valued currency. They must look for help. Shortly, the money market is incapable to compete, and the weakest capital market will vanish in Africa.
BRICS represents 2/3 of world population. Russia, China, India and Brazil are going to rule the world with more responsible and human ways bringing billions out of poverty.
It is too late having this development back this time. However, it is the best having the bank during the time when IMF and WB are getting money from China and Russia to play their dirty games against the world poor while benefiting themselves.
BRICS Having development bank means China, Russia, Brazil, India, and other nations are going to use this bank to lend their money by themselves instead of giving to IMF and World Bank making them able to behave the way they are.
BRICS having development bank is not only helping them and the world poor but also is going to kill IMF and WB forever. This is the good thing. New Era needs new institutions and approach allowing everyone to have equal share with right and responsibilities. The IMF and WB era is for sure over.
Unlike Woyane predatory regime Brazil, Russia, India, China and South Africa became the emerging world economic powers because they did not retail their resources and land to foreigners. Every thing is made and built by their own and to their own people .
China and India have even gone further. They have the audacity to bring their own nationals to work in Ethiopia when the sale-out zombie Woyanes are salivating to get quick bucks by selling our country.
Which country Woyane has sent Ethiopians for employment when foreigners are taking their jobs in Ethiopia?
Who is going to hire Ethiopians when the predatory regime is giving their job to foreigner collaborators?
Where is the Ethiopiawinet for Ethiopians?
Who is going to fight for Ethiopians? Woyane regime? Not!!!
Ethiopians are the only one to fight and fend for themselves and don’t waste any more time.
When Brazil, Russia, India, China and South Africa become the emerging world economic powers the predatory Woyane regime is taking Ethiopia in the opposite way.
Poor, landless, homeless, country- less, stateless, Ethiopiawinet-less and slave of Chinese and Arabs.
Selling whatever Ethiopia has and banking in Woyanes bank account is what EPRDF is obsessed with.
When the day comes for Woyane predators ousting, Woyane members have decided to exile and retire in China the country they worked hard for.
TULO the Eritrean who pretend to be Oromo. You are wrong,wrong,wrong !!!
Because you failed the job, you are trying to do OK.
You are to do misinform Ethiopians to tell them our government is selling our resources. We as Associates of Ethiopian Patriots are not defending current Ethiopian government but we recognize them as Ethiopians. We are supporting everything good for our country.
And we are not saying they are for everything they did. OK.
So, that now we are telling you, you can’t fool Ethiopians. Ethiopians of today in 21th century are civilized and they know how every country developed its land and people. No country in the world
did developed without foreign investament. look at Great China, South Korea even Russia.They made booming progress after they opened their economies. When Russia and China were closed and with closed doors. they were poor. And Mercedes and Ford companies are manafacturing cars,truck and airplans in Russia and China.
You are ignorant Mr. Tulo. You need to learn meaning of investament. every country in world is looking to attarct investaments for other worl. Here in US, American goverment is inviting you to buy farm or home in US.
Every Ethiopia knows, the differences when Ethiopian doors were closed feudalist time of Hail Salasia and communist time of Mingistu. And now shining Ethiopian that attarcts all world to invest.
Investament is not selling out but to invest and build inside the country.
Any way Mr. Tulo, we can understand your jealousy, because Eritrea has not friend in the world except few terrorists, so they is no investament nobody will trust this
Issias and stupid foreign and internal policies of your small poor country. We can’t help you.
SOOOORRY, SOOOOOOORRY !!!!!!
Associates of Shameless TPLF looters
You sound like Ash the trash or Addis Zeregna Zemen
What I stated resonates with us and you don’t have to tell us what is going on with our lives.
We know well how our people’s living standard has plummeted under Woyane bandit rule and how Woyanes who came naked, unclothed, barefooted become so rich and millionaires so quick by crawling out of Tigray.
Previous Farmers, Homeowners, landowners, business owners no longer own their property. It is robbed by the predatory Woyane bandit regime and its associates like you.
You may wish you are fooling us but you are the foolish bandit.
You sound like Ash the trash or Addis Zelezalaw zemen
If Eritreans are as concerned as I am for Ethiopia then many respect to them. I accept their concern. But that is not the case. It is the usual Woyane looter cheap shot yelling Eritrea when they get cornered and they have no justification for their crime on humanity.
Each time Ethiopia is looted you see a Dollar sign but I see the pain and suffering of my Ethiopian people.
Today I read bad news about 59 people that got killed by Woyane Bandit regime in Benishangul Gumez regime. Those poor people have done nothing wrong but Woyane looters are after their land and property to sell it to foreigners. This is the kind of blatant cruelty, harassment and abuse that our people are living under your China and Arab slave regime.
Associates of Ethiopian Patriots
Associates of Shameless TPLF looters
Investment to better people’s life is another thing and looting and selling resources is another.
Comparing the savvy and well educated US, Russia and Chinese investors to Woyane greedy Dedebit dropouts fueled by ignorance, jealousy, hate and greed to get rich is like caging Woyane thugs in with bunch of hyenas. They will not make it for lunch.
No US, Russian, Indian or Chinese farm land is sold to foreigners to feed foreigners.
In the US NO forcing people out of their farm land so govn’t will sell it to foreign nationals. But Woyane does that.
In the US you can buy land to own and to sell it. Unlike the US, in Woyane world land is a private property of Woyane governemnt.
In the US individuals and coorporations can buy farm land but not exclusivly to feed foreign nationals at the expense of the US. Certainly No 99 years lease deal.
Woyane is spear heading on that arrogantly and ignorantly.
What business/land Woyane ever has bought in the name of Ethiopia or for Ethiopia? This kind of deal happen only between dictators and opportunist investors.
What ever those big countries are doing is to get more job and wealth to their nationals. In Woyanes case it is to impoverish the nationals and to enrich the few Tigrayan elites who are controlling power illegally and has no clue what they are doing except collecting cash and selling Ethiopia to those savvy foreign investors .
This is one more blow to neo-liberalism which should applauded.
U worried about Indian producing food for export to their home country..
The Indian also growing one billion dollars of flowers… For shire the Indian doesn’t export it to India or export it for food… The only thing flower good is for Ethiopia bringing foreign currency..
I hope u will not tell us to use flower locally I stead of export it…
If u think we have to satsefied our local market before we export then we should not export coffee, cotton, oil seed, cow skin all this exported before the Indian comes so what is the diffrent we are poor that is why we export it…yes we can keep what ever we produce but we can’t make money…. If we don’t make money then no foreign exchange… No foreign exchange means u know what is next… If u don’t know then u r TuLU
Ash the Trash
aka Dedebit school dropout
Your mafia bosses are growing flowers on fertile land that used to grow Teff and other crops that used to feed the nation. Teff is mainly consumed by Ethiopians but flower, selling Land and natural resouces will bring quick cash into TPLF mafias pocket.
The TPLF controlled regime’s solution is to let Ethiopians feed from trash dump and starve while TPLF is begging for food aid and their addiction, more MONEY!!
Again ,you are showing your greed and inability to think smart and unable to care and have concernes.
You are consumed by hate and greed you chose dollar sign over the humane sufferings. I say respect humans life you say give me money. That is the whole difference between me and greedy banda like you.
We are going to fight back hard because our people deserve a better life and people like you have no place in society. You will join the devil Meles in hell.
I didn’t know teff grown in 100,000 hector of land in Gambella
Just because we r farming flower all land used and no teff can be farmed… In fact this high tech farming system can jump start teff production with big scale..
When I think of it give teff production or one Indian he will supply us with all teff we need we don’t need 70 million small farmer to feed 10 million people is like 70 farmers to feed only ten people… All we need is 4000 big farmer to feed 80 million people the rest must work in agro industry again imprted Indian technology
In America very few farmers feeding 300 million people… So think about producing teff at large scale learned from flower farming and we can apply it on our teff farm…
Ash the Moron Dumpster mouth
Oh my God what a moron Woyane paid cadre!!!
Do you think we are all morons like you?
You are the prime example of Woyanes/TPLF who has no clue of whom you are dealing with. Do think people like you have a chance to do business with those savvy Indians and Chinese?
Isn’t that why foreigners are farming in Ethiopia to send food to their nationals when Woyane is on the selling, begging and starving end?
According to your empty scull calculation 100000 hectors of land equals to the size of Franc? Learn how we are ahead of you when it comes to and protecting our interest and intelligence.
Your Mafia TPLF looters have sold Gambella, Amara, Oromia, Omo Valley and Sidama farm lands to Arabs, Indians, Turks, Pakistanis and etc.. to grow rice, palm and etc… while in Amara area where Teff used to grow Woyane is growing flower.
The sell of land and the Lang Grab is going all over Ethiopia except Tigray.
These people are target of Woyane fascists because they stand for One United Ethiopia which Woyane/TPLF are allergic to it. Mark my word Woyane is going to loose miserably and for ever. No Ethiopian likes Woyane/TPLF scumbags.
I will give up if u tell me ur soultion…. Just amuse me with our wisdom…
U worried about those savvy Indians and Chinese but I have news for u even in America u can do business selling coffee beside starbucks and second cup….
Ethiopia Restaurant existed and doing business beside McDonald restaurant…in fact because of McDonald we can learn new way of doing business. And introduction of technology.
Just because someone have car accident that doesn’t mean we should ban car… U make rule and regulation to make driving car safer
in 2009, according to a World Bank report, published in 2010. Arable land (in hectares)
Ethiopia have 13 million hectares for arable land
This is like giving 100km out of one million km.
I know u hate Indian, the Chinese and the Arabs and u perefer the American instead…
Guess what the Arab does not produce farming equipment and technology…. Even the Indian figure it out their technology are not suitable for Ethiopian land scale of production so they buying American tractors…
Then what do I know u will tell us how u going to develop our farming without land grap or the Indian and the Chinese. Let us set and relax while u educating us…. If u don’t give me alternative then the Indian …. I will endup wasting my time…I will not even guess what u can comeup with it might be good one….
My proudest tultula,
I guess u do have alternative…
Just doing economy boycotting under cover…I get it we have to remove Meles so Ethiopia become black okay brown singpour… Where did I heard this hahaha.
The Indian are coming u can kill urself for all I care…
If u live in America or Canada… Ask the olden gernration American who build railway across America they will tell u the Chinese… The Chinese build the Canadian railways.. 100 years ago…. The rail still there… Serving and benfiting the American economy every day…
The Indian farm workers help Canada to be come number one food donor to Ethiopia.
If u hate Arab…. Without having money… Imagine the Arab also know u hate them but they take risk investing in Ethiopia…can u imagine if Ethiopia was the one who have money u would not invest in Arab country..
Anyhow I will tell u one stroy if u understand it in 1980 ur father mangsiu try to sale electricity power to Djoubuti …. But the franch told the Djoubuti government not to buy power from Ethiopia… The reason is Ethiopia can shut down Djoubuti power any time she want and control Djoubuti this way… They implement fear..when franch rule Djoubuti for 99 years they old have developed Djoubuti beyound anyone dream but they didn’t do it and then they don’t even develop in their own so they put fear in heart of Djoubuti
Then Meles come and he break that fear… Even Djoubuti can shout down sea port access to Ethiopia… But that is not go business look what happend to Eritrea when she try to control Ethiopia will just because we use their sea port.
Now the same western country put fear in heart of all Egpty saying ethiopa try to hurm u… I know in my heart 100% want is to develop Nile for their benift no one investing billion to hurt other people… Yes there are uneducated people in both side but their are many countries that share river one of them are American and Canada they share river in both side they have hydro power ganrated and both side enjoy the river equal… No body say it belong to me…it is shared property
Anyhow it is western tools to put fear in African hert so that they don’t trade with each other… Now our tultula telling us not to trade with Arab because they are evil… Mind u if they are evil and it is not in our best interest to hold the key to their FOOD…
If we have their food it become their best interest to keep as stable so they will not support all kind of freedom fighters…
American say it having Leverage… If the Arab have billion dollar investment and if they are abusing our women in Saudi Arabia then we have leverage over them because they have their interest in Ethiopia…. But if we kick them out what kind of leverage do we have? Banning Ethiopian from going to Saudi.. Or disconcerting our diplomacy… That would be very good for human traffickers because Ethiopia government can’t have recourse so they can abuse Ethiopian women without the reach of government
Ash the Dumb TPLF Trash
You are ranting with dumb ideas and examples all over the place.
It is obvious you are working to fill up you belly with blood stained money. Meles made you rich and brought you out of Dedebit dust. By taking our money and giving it to you all the TPLF cadres are worshipping him . That is all the point for your cries.
There is nothing hidden any more. TPLF came in with mapped out evil idea on how to loot Ethiopia and reduce Oromos and Amaras (70% of the population) life to nothing but to workers as slaves in our country.
On the Chinese and building railway in America history you have lost it. Again proving to be the TPLF dumb a..ss!!! Go back and read before scribbling your dumb idea.
In America: They were Chinese who later become American citizens. It is not like what is happening in Ethiopia and what the Chinese are doing as you the dumb a…ss put it.
In Ethiopia’s case: The Chinese are cleaning up resources by paying off dictator EPRDF/TPLF junta MONEY!!!! Your thinking is limited to travel from your head to you belly.
So no matter which way you slice or dice it your evil dumb greedy unpatriotic sell out idea is not flying but landing right back on your empty dumb scull.
Keep on praising and glorifying your evil Master dead Meles. He is nothing but a curse on Ethiopia.
We never elected him and he never represented us. He came in as TPLF (Tigray People Libration Front) to librated Tigreas economically and died a billionaire by selling, stealing and looting our resources.
Meles has gone down in history as the evil TPLF black man in Ethiopia.
Ethiopian women marrying the Chinese men so no need to take Ethiopian citizenship we will be related with blood… Just like Al Amoudi there will be Ethiopian Chinese orgin no need for paper… Again hold ur horse this is our tradition to get married with our friends to create blood bond in this case china.
Now histroy time
Building the Canadian Pacific Railway
Canada needed a railway that would stretch from one side of the country to the other. Andrew Onderdonk, a New York engineer, was given the contract to build the portion of the railway from Port Moody to Eagle Pass, near Revelstoke, British Columbia. The land in this area was mountainous, making the work difficult and dangerous. Workers were in short supply. Between 1881 and 1884, as many as 17 000 Chinese men came to B.C. to work as labourers on the Canadian Pacific Railway. The Chinese workers worked for $1.00 a day, and from this $1.00 the workers had to still pay for their food and their camping and cooking gear. White workers did not have to pay for these things even though they were paid more money ($1.50-$2.50 per day). As well as being paid less, Chinese workers were given the most back-breaking and dangerous work to do. They cleared and graded the railway’s roadbed. They blasted tunnels through the rock. There were accidents, fires and disasters. Landslides and dynamite blasts killed many. There was no proper medical care and many Chinese workers depended on herbal cures to help them.
Chinese railway workers’ log camp beside railroad Construction of a Chinese camp on the Canadian Pacific Railway, Kamloops, British Columbia, circa 1885
The Chinese railway workers lived in camps, sleeping in tents or boxcars. They did their own cooking over open outdoor fires. They mainly ate a diet of rice and dried salmon, washed down with tea. With their low salaries they could not afford fresh fruit and vegetables, so many of the men suffered from scurvy (a painful disease caused by a diet without vitamin C).
A Chinese work gang for the Great Northern Railway, circa 1909
The camps were crowded. Diet and living conditions were poor. Many got sick. In the winter it was very cold and the open fires were the only way of keeping warm. Whenever the workers put down more tracks, the camps had to be moved further down the line. When it was time to move camp, the Chinese workers would take down their tents, pack their belongings and move everything to the next camp, often hiking over 40 kilometres.
Ash the Trash TPLF Moron
There is nothing you can tell me about my country and my people.
Ethipia is new to you after coming out of Dedebit cage.
Ash the trash TPLF ignorant
who refused to acknowledge your grossly and hopelessly stupidity !!!
You must be an old TPLF dog who couldn’t learn new tricks.
Again you are going wild with your dumb ideas and examples jumping from one to another corner.
Cut out your blabbing your unfounded, boring and dumb stories. Bla, bla, bla, bla, bla, bla, bla, bla…
Before commenting here you should have done your homework. I can’t give you Lectures and tutoring here on the forum about economy, history, math, governance, responsibility, honesty, integrity, loyalty, math, Ethiopia, China, America and how we Ethiopians are so smart and you TPLF, thieves, liars, thugs and cadres are the laughing stock of the world.
You should have gone to school to study and become a better person instead of joining TPLF terrorist group and remain as dumb as you were.
Now you are unfit to join us as an educated or decent person. Blame TPLF for keeping you as ignorant as you ever been.
Ash the Trash TPLF Moron
Alamoudi owned farm land in Ethiopia not to help Ethiopia but to feed his barbaric Ethiopians tortuers Saudi Arabia families.
He is an agent and working for the Saudi Arabia government. All the money Woyane brags that Alamoudi owns is not his but for the Saudi Arabia government.
Again we are so much ahead of Woyane dumb lies and stop writing trash.
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