Countries With Emerging Economies Want More Control

Looks like our friendly neighbors want more control over our economy.

Brazil’s President Luiz Inacio Lula da Silva said there was acceptance the G7 group of elite nations was no longer capable of working alone.

“It is time for a pact between governments to build a new financial architecture for the world,” he said.

“This is a global crisis and it demands global solutions.”

He said nations must “avoid temptations to take unilateral measures,” and stressed that “new universal mechanisms are needed” that have to be worked out in concert.

“The crisis gives an opportunity for real changes,” he said, adding: “We cannot, we must not and don’t have the right to fail.”

It’s inevitable that the global economy is linked - as it has been for thousands of years.  That fact does not mean that we should cede economic policy decisions to people who are not accountable to the voters and who likely don’t have the best interests of America in mind.

Oh, and they want a hand out too.

China and the Gulf states have trillions of dollars in reserves that could help the IMF help smaller countries withstand the present turmoil.

1. Oh God help us (literall), not that word “change” again!

   Posted by Jeni on November 13, 2008 at 2221 hrs




2. Dear Sirs,
   First of all, when the presidents of the G20 met in São Paulo and demanded more political power on the decisions that will affect us all in the world, it doesn’t mean we want to rule US economy. That is and will allways be the task of american people and government.
   So, no, we don’t want more control on your economy.
   Nevertheless, we want you to have less control on our economy. That’s why our commercial relation with the US is now in 4th place, after China, the European Union and the Mercosul (Free Trade agreement between Brazil, Argentina, Uruguay and Paraguay, similar to your NAFTA).
   You say the world economy has been linked for thousands of years. It was not always truth, as many nations tried to live isolated from others in the past (f.ex. Japan and China in Middle Age). Anyway, when there was one power who ruled the world, like the British Empire until the 19th century, you americans tried to get rid of their oppression and your example was welcomed by the other new nations on the Americas.
   Now your arrogant comment seems to want to come back to the times of Pres.Roosevelt’s big stick policy, with your neighbours in the south. Believe me, as true as Mr Bush puppet was defeated last November 4th, by your voters, it will not work that way anymore.
   Our voters here in Brazil have restablished democracy since 1989, and sent back to the barracks the militaires that you helped be in dictatorship power for more than 25 years of torture, corruption and barbary (check your CIA files).
   You better study much more geography, economy and international politics if you really want to stay tuned with reality.
   We look forward to work together as economical partners, but with mutual and equal respect.
   Best regards,
   Your neighbour in the sunny Rio, south of the Equador
   Luiz G. Moraes

   Posted by on November 27, 2008 at 0258 hrs