Thu Mar 28, 2013 3:40AM GMT

bricsBy Prof. Rodney Shakespeare

The importance of the BRICS summit cannot be overestimated partly because it represents new countries beginning to take power and partly because it heralds a new world coming into being.”

Yes, BRIIICS, with three “I”s. That’s because to the countries of Brazil, Russia, India, China and South Africa (which have just held a summit in Durban, South Africa) will soon be added Iran and Indonesia.

Iran is a stalwart moral and political leader. It stands up against Zionism. It has huge natural resources. It is making extraordinary technological progress. It will soon be a BRIIICS member.

And so will Indonesia, which has the world’s fourth largest population, a fast developing economy (around 7% per year) and, again, huge natural resources.

Continue Reading…