... drought in over a century provided impetus for the agriculture ministers of the BRICS nations to gather in Brasilia in March and launch a manifesto designed to make the group a key player in the global food security regime. But they did. Now the world is waiting.
From a moral and business ethics perspective the effort makes sense and can add value to the BRICS brand.
But success depends on China, India and Brazil, who are impacted by drought and infrastructure problems that step on their economic performance. And Russia is dealing ...
... the Paris-based Organization of Economic Cooperation and Development (OECD).
But even without a headquarters, a leader and lacking a professionally crafted media image, that is what’s happening.
Meanwhile, Russia has hedged its bets, announcing its intention to join the OECD in 2015, after national elections in Brazil and India.
Wouldn’t it be better for the BRICS to put that $100 billion on hold and use it to promote food security and agricultural coordination among the members?
After all, all of the BRICS economies are caught in what economists call the classic “middle income trap” that mimics affluent consumer behavior but lacks the income distribution ...