How Brazil, Russia, India and China Are Standing Up to the American Empire

Pepe Escobar-AlterNet

Western corporate media is flooded with stories about the weakening of Brazil, Russia, India, China and South Africa, but these are defensive measures.

 Reports on the premature death of the BRICS (Brazil, Russia, India, China and South Africa) have been greatly exaggerated. Western corporate media is flooded with such nonsense, perpetrated  in this particular case by the head of Morgan Stanley Investment Management. 

Reality spells otherwise. The BRICS meet in Durban, South Africa, this Tuesday to, among other steps, create their own credit rating agency, sidelining the dictatorship - or at least "biased agendas", in New Delhi's diplomatic take - of the Moody's/Standard & Poor's variety. They will also further advancethe idea of the BRICS Development Bank, with a seed capital of US$50 billion (only structural details need to be finalized), helping infrastructure and sustainable development projects.
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