Third world comes alive

economic grip of the Anglo-Saxon coalition.
BRICS is a grouping of emerging economies of Brazil, Russia, India, China and South Africa, who have been playing an increasingly bigger role in the world economy for the past decade.
The summit is being held on the backdrop of global events that vividly show that the United States of America and its cabal of European bedfellows are spiritedly seeking to further entrench their hegemony over the world economy.
For instance, the Americans are feverishly trying to force-throat other countries to “significantly” reduce their oil imports from Iran as a way of promoting its tough sanctions regime against the Islamic nation.
On 31 December, 2011, Barack Obama signed a law that denies foreign banks that do business with the Central Bank of Iran access to the US financial system. The law also directed that the US should bar access to its banking system to any country that fails to make “significant” reductions in its crude oil purchases from Iran during the first half of 2012.
For fear of the palpable consequences arising from the failure to abide by the US directive, several countries have notably reduced their oil imports from Iran. South Africa, which imports 29 percent of its crude oil from the Islamic nation, had reportedly reduced its Iran imports.
In similar fashion, US allies Britain, Belgium, France, Germany, Italy, Greece, Spain, The Netherlands, Poland and the Czech Republic have already been certified as having “significantly” reduced their oil imports from Iran.
However, China has invariably resisted these efforts to foist American interests on its domestic policies. China maintained that it legally imports oil from Iran and therefore would not accept the practice of saddling unilateral sanctions on third countries.
Other than these futile attempts to arm-twist other nations to pander to their hate-filled tactics, the Americans are also resisting justifiable calls by developing nations to have their turn at leading developmental institutions of World Bank and the International Monetary Fund (IMF).
BRICS nations would like to significantly curtail the West’s economic hegemony by presenting their own candidate to challenge the US’ stranglehold on the World Bank’s top most position. Since the founding of the World Bank, Washington has traditionally laid a claim to its top post, while a European has always led the IMF.
As a result of the uncompromising attitude of these imperialists, the BRICS nations now seek to establish their own development bank anchored on the five countries’ fast growing economies and foreign reserves. This is meant to cater for their economic needs as well as concomitantly detach themselves from the selfish grip of the US controlled World Bank and IMF.
On the currency front, the emerging economies now seek to strengthen their local currencies and possibly adopt the Chinese renminbi as their currency of trade, not only to rival the US dollar but also to wean themselves from the punitive whims of the US banking systems.
It is apparent that there is a growing disillusionment among developing nations that both their financial and political sovereignty is being eroded by the Anglo-Saxon’s unremitting grip on the world economy.
Materially, this would come as a relief to Zimbabweans and other sanctions’ burdened nations. If successful, it means our transactions in diamonds and other products would no longer be routed through the manipulative US banking system but through that of friendly nations.
The vindictive US would no longer have the economic clout to arbitrarily punish us for implementing our own people centred reforms.
The unseating of the US banking system would be a forceful avenue to effectively bust the US dollar supported unilateral sanctions imposed by the Americans and their servile European bedfellows against our country.
Notably, these developments lend credence to Zanu-PF’s “Look East” policy and its accompanying calls for the introduction of the renminbi as the currency of trade.
When Zanu-PF functionaries first suggested these policies they were ridiculed but now they are interestingly being replicated at the global stage.
Manifestly, it is not only Zimbabwe that wants to look away from the West but the whole world now wants to give its back to the suppressive Western controlled currency and its supportive economic institutions.
Against this backdrop, it becomes baffling that some local politicians, who are obviously surrogates of the West, are pushing for economic blueprints that will once again deliver this nation to the blood dripping fangs of the World Bank and IMF.
Moreso, knowing very well that we are under US sanctions, they still insist on transparency on the life-saving diamond transactions yet this will fully expose our trade partners to the lynching hand of the American banking system.