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FARAI MAGUWU – The BRICS, Climate Catastrophe, Resource Plunder and Resistance

Summary:
We're on our own when it comes to the climate and the environment as big money does all the talking. China is developing green energy back at home to try to clean up its environment but is promoting coal fired power power stations in Africa to support its ailing fossil fuel industry which has been affected by China's clean energy regulations. India, which is trying to reduce it's own carbon footprint, is doing the same in Africa too. And Putin has also muscled in on Zimbabwe's dodgy diamond and platinum business. In all instances, rural African communities are getting their habitat and livelihood destroyed, but big business wins. KV The heads of state from Brazil, Russia, India, China and South Africa are meeting in Johannesburg’s corruption-ridden financial district of Sandton for a

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We're on our own when it comes to the climate and the environment as big money does all the talking. China is developing green energy back at home to try to clean up its environment but is promoting coal fired power power stations in Africa to support its ailing fossil fuel industry which has been affected by China's clean energy regulations. India, which is trying to reduce it's own carbon footprint, is doing the same in Africa too. And Putin has also muscled in on Zimbabwe's dodgy diamond and platinum business. In all instances, rural African communities are getting their habitat and livelihood destroyed, but big business wins. KV

The heads of state from Brazil, Russia, India, China and South Africa are meeting in Johannesburg’s corruption-ridden financial district of Sandton for a two-day annual summit. Pretending to challenge Western imperial hegemony over poor nations of the South, this bloc has itself proved to be no different.
If anything, two of the BRICS powers – China and India – are investing billions of dollars in coal-fired thermal-power generation in Africa while winning global applause for increasing their solar and wind power at home. This contradiction and policy inconsistency is one of many which makes the BRICS a farce.
China is funding coal projects in Ghana, Kenya, Tanzania, Malawi, Zambia and Zimbabwe, yet is a global powerhouse in renewable energy. It put on hold more than 100 coal plants in 2017 with a combined installed capacity of 100 gigawatts. In 2016 China’s energy regulator also halted coal fired projects amounting to over 300 gigawatts, mainly due to overcapacity but also health and local pollution concerns.
In Zimbabwe, Vladimir Putin has muscled his way into the lucrative platinum and diamond sectors. After the military coup in November, Putin sent his powerful Foreign Minister Sergei Lavrov to meet Zimbabwe’s President Emmerson Mnangagwa where they agreed to move ahead with a dodgy $3 billion platinum project in Darwendale. Lavrov later revealed to the media that Russia was also interested in Zimbabwe’s diamond sector, adding the two countries will increase military cooperation.
But health, access to clean water, food security, jobs and infrastructure development are the main priorities of the Zimbabwean people – not more power to our country’s de facto junta. Beijing’s diversion of diamonds via its military, both back to China through the Anjin company and to the Zimbabwean army, was so notorious already that even former President Robert Mugabe – deposed in a coup last November – admitted that of $15 billion worth of the alluvial stones taken from the Marange fields, less than $2 billion had been accounted for.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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