Trade and Investment

BY SOPHEA CHREK

“We, 164 families, have been faced with drought, insects and worms that are destroying our crops and that led to a lesser yield; the harvested yields are sold at a low price on the market,” reads the letter of families affected by the rice price crisis to the Phnom Penh Post.[1] These families sought the help of the Prime Minister to secure loans that could cushion the impact of the crisis.

Does BRICS still offer an alternative model of development that can address the current global crisis? Is this grouping of the emerging economies of Brazil, Russia, India, China, and South Africa actually challenging the hegemony of the old powers for the benefit of the rest?

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