BRICS… More Hungry For Power Than Food?

... 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 ...