So you think BRICs are “developing” countries and Europe is the developed capitalist core

This is from today’s FT

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Brics’ to debate possible eurozone aid

By Joe Leahy in São Paulo

Officials from the leading emerging market economies will meet in Washington next week to discuss potential joint action to help the crisis-hit eurozone, said Guido Mantega, Brazil’s finance minister.

The idea will be discussed at a meeting of the finance ministers and central bank governors of the “Bric” nations – Brazil, Russia, India and China, plus South Africa – on Thursday.

“We’re going to meet next week in Washington and we’re going to talk about what to do to help the European Union get out of this situation,” Mr Mantega told Brazilian reporters on Tuesday.

Any concentrated joint effort by the Bric nations to support the eurozone would mark a further symbolic shift in the momentum of the global economy towards the largest emerging markets.


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