
© Danish Siddiqui / Reuters
The narrative concerning BRICS in the Beltway/Wall Street axis predictably spans two vectors; the five-member emerging power group - over 22 percent of global GDP, over 40 percent of global population - is either 'in crisis' or dismissed as irrelevant.
This is the
Goa Declaration, summarizing the results of the annual BRICS meeting held this past weekend in India. Apparently there's not much that meets the eye.
Yet President Putin once again stressed the context; this is a long-term project, a "key element" in the embryonic multipolar world, driven by nations that don't accept "power pressure" and attempted "targeting of sovereignty" by the usual suspects.Economically, prospects for the BRICS are not as dire as a year ago. The medium-term scenario spells out stability in commodity prices. Even the IMF - always not to be fully trusted - bets on Russia growing 1.1 percent in 2017 (after a 3.7 percent recession in 2015) while Brazil might grow 0.5 percent.
Always looking at The Big Picture, Putin put on a brave face - stressing BRICS integration via more than 30 ministry-level teams working on common political, economic, humanitarian, security and social projects, as well as major advances such as the New Development Bank (NDB) and the proposed, $200 billion BRICS reserve currency mechanism.
Comment: In this case, pictures speak louder than words to convey the devastation left behind and the ongoing atrocities suffered by the Syrian people.