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Fed Up

The root cause of massive public protests in Brazil and Dilma Rousseff’s impeachment proceedings lies not in economic problems but rather in the middle class’ outrage over corruption, which has reached an unprecedented level. Before a new Brazilian president is sworn in, the country is likely to see two years of drawn-out political struggle, the outcome of which remains unpredictable.

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André Esteves’ Brazilian Rollercoaster

After building the largest independent investment bank in Latin America and making billions in the process, André Esteves became an embodiment of Brazil’s economic miracle of the last decade. Today a victim of the Petrobras corruption scandal, he runs the risk of becoming a symbol of the new Brazil, caught in an unprecedented political and economic crisis.

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How Brazil’s Crisis Is Bleeding into the Rest of South America

Brazil’s withdrawal from the world is damaging the rest of the continent, even as it becomes a battleground in Rousseff’s impeachment. This article originally ran in Americas Quarterly.

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Deposits, Credits, Communication

In the spring of 2016, a new type of financial organization appeared in Russia. Leto Bank, a VTB group company, was relaunched with the participation of Russian Post and took the name Post Bank. The plans include the creation of a large regional network that will make banking services available to small towns and villages. Dmitry Rudenko, President and Chairman of Post Bank’s Board of Directors, explained the logic of the highly ambitious project to BRICS Business Magazine.

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Don’t Try to Control It

Jeremy Rifkin, the author of the Third Industrial Revolution concept, tells BRICS Business Magazine how companies can profit from the Internet of Things platform and the sharing economy, what danger can potentially come from governments and big corporations, and reveals he is ready to collaborate with Russian authorities.

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The Big Three of the ‘Third World’

Even though they are not made of the same dough, Cuba, Iran, and Myanmar have an important commonality: All three are now passing an important milestone in their history and may soon form a trio of the most rapidly growing economies in the developing world.

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Following the Narrative

In an economic system that produces growth by rewarding inspired actors and investors, regulators must counter the risks implied by money market structures that are intrinsically destabilizing.

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The Khan of London

The man of the hour in the United Kingdom, if not in Europe, is obviously Sadiq Khan. Pakistani by origin, Muslim by faith, and newly elected Mayor of London, he has to prove to be a new democratic face of Islam.

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Good News for Humanity

Bad news is all around us. The world confronts the possibility of a sexist, racist ignoramus occupying the White House next January. Unreconstructed authoritarians already are in charge in Russia and China. Populists of varying ugliness are winning elections from Poland to the Philippines. And Islamophobia is overriding compassion in almost every country, including my own, that must respond to the current refugee crisis. What Abraham Lincoln described in his first inaugural address as “the better angels of our nature” seem to have gone into hiding.

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The Strong and Quick Will Remain

The Russian financial industry has been thoroughly tested in recent years, and the fact that most banks have managed to cope with the difficulties and are still working confirms the reliability of the country’s banking system. In an interview with BRICS Business Magazine Andrey Degtyarev, Chairman of the Board of Absolut Bank, talks about the transformation of the banking industry as a result of the crisis, the risks faced by major players, and how they intend to develop further down the line.

    Forums & Events

    St.Peterburg International Economic Forum

    16-18 June, Russia, St.Petersburg http://forumspb.com/ru/

    Indo Dafence Expo and Forum

    18-20 June, Indonesia, Jakarta http://rasia.com/

    VII KazanSummit

    19-21 June, Tatarstan, Kazan http://kazansummit.ru/

    Moscow Urban Forum

    30 June — 03 July, Russia Moscow http://mosurbanforum.ru

    BRICS Routes

    About BRICS Business Magazine

    BRICS Business Magazine is a bookazine —

    a book-like magazine – addressed to global investors, businessmen, politicians, and experts.


    A business and humanitarian publication on rapid-growth markets, it is issued four times a year and explains how to understand others.


    The goal of this project is to organize a direct information exchange between the BRICS countries and other emerging markets.


    We define a bookazine as a thick magazine with complex printing which is designed for slow reading and filled not in accordance with a constant set of sections, but rather in accordance with the topics chosen. Our bookazine includes (with occasional exceptions) three main kinds of data:

    • essays and columns that would fit into “Opinions” or “Recommendations” sections
    • indices, ratings, and rankings
    • business cases

    Industry and event projects as well as investment guides are featured as special add-ons.





    Our technology forecasting is better than our social forecasting. We are now able to say much about what the Internet of Things will look like, what will happen to energy and medicine, what we will be able (and not able) to print in 3D in 2030, and how this will change the economy and its agents. It is significantly harder to imagine a society that can render habitable this new world. Or more correctly, societies. After all, if we enter into this period of so-called liquid modernity, washing away the rigid and familiar, but no longer required structures (institutes, businesses, our framework of obligations, and means of making life choices), then in all likelihood, we will have to deal with multiple mobile ‘microsocium’ as the main driver of any process. It will certainly be interesting to see how we agree upon what is good, and what is bad.

    In a world where there are migration and economic crises, a president of a huge country is almost sent into retirement, and the new Mayor of London is a Pakistani, to talk about this seems a little ill-timed – there is always something more urgent. In fact, the opposite is true, we are already late. We should always be thinking about such things, as they, in many ways, determine the style and quality of management, the style and quality of decisions taken, even personal ones, which means the transition from one state of a particular business, the goal of the economy or society, to another. Together, new technology, new achievements of the human spirit, or new humanitarian catastrophes give rise to new identities that have a decisive influence on the next round of updates. To understand and predict them is just as difficult as it is interesting. And to ensure that your business stays relevant in this too-rapidly changing world is an incredible challenge facing every man (and later every country).

    What can get in our way of facing this challenge? Boredom, laziness, and indifference to everything that does not confirm our own righteousness. Delegating all rights and responsibilities over to the authorities, the refusal to cooperate with those who seem alien to us. At the same time, there will be more centers and leaders in the 21st century, we constantly have to negotiate and establish relationships with each other. Uncontested hegemon will gradually disappear. To understand already just how capable we are of cooperation, it is useful to compare the personal and mutually directed fears of Europeans, Asians, inhabitants of North and South America, the Middle East, and Russia. A multicultural country that finds a way to remove or overcome these fears will be the most attractive to both people and capital. But there will be those who are stuck in their own past. According to Zygmunt Bauman, the author of the term ‘liquid modernity’, the lives of people are defined by five major concepts, which are extremely fluid in their meaning and significance: ‘individuality’, ‘emancipation’, ‘time/space’, ‘community’, and ‘work’. Anyone can analyze how they themselves and those around them are transforming and putting these ideas into reality. If everything seems static, then most likely, it is not the world, but it’s just us in no hurry to change.

    Authors & Experts

    Oliver Stuenkel
    Oliver Stuenkel

    Professor of International Relations at the Getúlio Vargas Foundation (FGV) in São Paulo

    Georgy Toloraya
    Georgy Toloraya

    Executive Director of the National Committee on BRICS Research, Russia

    Ishac Diwan
    Ishac Diwan

    Affiliate at the Belfer Center’s Middle East Initiative at Harvard University

    Sergey Vasiliev
    Sergey Vasiliev

    Deputy Chairman of the Board at Vnesheconombank.

    Vasily Brovko
    Vasily Brovko

    Head of Communications, Information, and Research at Rostech Corporation

    Andrei Degtyarev
    Andrei Degtyarev

    Chairman of the Board at Absolut Bank

    Jeremy Rifkin
    Jeremy Rifkin

    President of the TIR Consulting Group

    Dmitry Sharonov
    Dmitry Sharonov

    Deputy Prime Minister of the Government of the Republic of Bashkortostan

    Tomas Krieger
    Tomas Krieger

    Head of Commerzbank in Latin America

    Alexander Rost
    Alexander Rost

    Head of Commerzbank’s business in the Indian subcontinent and in ASEAN countries

    Fernando Cruz
    Fernando Cruz

    Senior Research Analyst, Euromonitor International

    Dmitry Rudenko
    Dmitry Rudenko

    President and Chairman of Post Bank’s Board of Directors

    Azat Fazlyev
    Azat Fazlyev

    Acting President of Bashkortostan’s Chamber of Industry and Commerce

    Vladimir Korovkin
    Vladimir Korovkin

    Head of the Digital Technologies at the SKOLKOVO Institute for Emerging Market Studies

    Bernard-Henri Lévy
    Bernard-Henri Lévy

    Co-founder of the Nouveaux Philosophes (New Philosophers) movement

    Gareth Evans
    Gareth Evans

    Former Australian Foreign Minister, President Emeritus of the International Crisis Group, Member of the Aurora Prize jury

    Ekaterina Molchanova
    Ekaterina Molchanova

    Project Lead at the SKOLKOVO Institute for Emerging Market Studies

    Robert J. Shiller
    Robert J. Shiller

    2013 Nobel Laureate in Economics, Sterling Professor of Economics at Yale University

    Ksenia Sosnina
    Ksenia Sosnina

    CEO of International Paper

    Marcos Troyjo
    Marcos Troyjo

    Director of the BRICLab at Columbia University, where he also teaches international affairs

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