O que é este blog?

Este blog trata basicamente de ideias, se possível inteligentes, para pessoas inteligentes. Ele também se ocupa de ideias aplicadas à política, em especial à política econômica. Ele constitui uma tentativa de manter um pensamento crítico e independente sobre livros, sobre questões culturais em geral, focando numa discussão bem informada sobre temas de relações internacionais e de política externa do Brasil. Para meus livros e ensaios ver o website: www.pralmeida.org. Para a maior parte de meus textos, ver minha página na plataforma Academia.edu, link: https://itamaraty.academia.edu/PauloRobertodeAlmeida.

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sexta-feira, 25 de agosto de 2023

Ascensão e queda, e morte, na Rússia de Putin - Centre for Defence Strategies (CDS)

 The story of the Wagner PMC, a quintessentially Russian narrative, has reached its conclusion. 

Employing infernal symbolism, Vladimir Putin orchestrated the demise of Yevgeniy Prigozhin, a one-time loyal supporter turned renegade, marking the beginning of the failed mutiny two months ago. This event draws striking parallels to the assassination of Anna Politkovskaya, an independent Russian journalist and vehement critic of Vladimir Putin, who was murdered on Putin's birthday seventeen years ago. Putin's reputation is rooted in ruthless actions and rancour. Among those observing Kremlin affairs, few doubted that the leader of Wagner was doomed.

The tradition of absolute power runs deep in Russia's history, tracing back to Muscovite rulers like Ivan the Terrible and even earlier. In this system, a czar holds complete authority over all subjects, treating them as possessions regardless of their social status – whether nobles with recognized rights or serfs with limited freedoms. The ruler retains the authority to bestow official positions or property as he pleases, without temporal restrictions. The ruler's “jurisdiction” extends to the appropriation of his subjects' possessions, freedoms, and even lives, at his sole discretion and timing. Concepts like the Magna Carta and Habeas Corpus remain foreign to Russia, up to the present day.

The FSB, a successor to the KGB, intricately blurred the lines between the state and the criminal underworld. Yevgeniy Prigozhin, a convicted criminal, has been a recurring figure in Vladimir Putin's realm since the tumultuous 1990s. Back then, Putin, serving as an aide to the mayor of St. Petersburg, was involved in a web of corrupt dealings and more serious transgressions. After consolidating his power and dismantling the oligarchic circle around "retired" President Boris Yeltsin, Putin assumed dominion over virtually all facets of Russia—its assets, entities, and populace.

Dissenters found themselves met with a choice between assassination, incarceration, or banishment from the Russian landscape. From that juncture, the so-called oligarchs were granted the liberty to misappropriate and squander resources, exercising unrestrained control. However, they had to satisfy the actual proprietor through bribes—whether channeling funds towards his caprices at the Gelendzhik palace or endowing various opulent superyachts. Moreover, they were mandated to fund a spectrum of intelligence operations and exert influence campaigns abroad on behalf of the Kremlin. It's important to highlight that they never held control over Putin's decisions, which excludes them from being classified as genuine oligarchs..

The so-called Wagner Private Military Company (bearing in mind that formal mercenary endeavors are proscribed within Russia) has functioned as a valuable instrument for the Kremlin, offering a shroud of plausible deniability. Prigozhin evolved into a well-established operator in Africa with some 5,000 mercenary forces deployed across the continent. A sophisticated network of companies established and run by Yevgeniy Prigozhin generated profit from the mercenary business serving various regimes. This endeavor not only yielded financial gains but also facilitated access to coveted resources encompassing precious minerals such as gold and diamonds, as well as fossil fuels like oil and gas.

Parallel to the inflow of untraceable financial resources, the operations conducted by the Wagner PMC bolstered the Kremlin's capacity to wield influence beyond its apparent heft, in the competitive arena of African influence vis-à-vis more resource-abundant entities from the free world and China. Before the extensive involvement in Ukraine, the Wagner PMC had already gained infamy due to its involvement in war crimes in Africa and Syria.

While the Wagner PMC momentarily captured headlines with its audacious march towards Moscow during in June, the Kremlin's propaganda machine skillfully revealed that the company's autonomy was less substantial than it seemed. Notably, the company received significant military contracts totaling $2 billion between May 2022 and 2023. Concurrently, a sophisticated propaganda network associated with Wagner, including entities like the Internet Research Agency (previously implicated in U.S. electoral interference), secured an astonishing $20 billion in government contracts.

The Kremlin discarded its facade of plausible deniability by orchestrating the destruction of a civilian aircraft carrying the chieftain and his key subordinates. In doing so, the Kremlin effectively eliminated former collaborators and operatives who had displayed disloyalty. It's worth noting that Yevgeniy Prigozhin was destined for doom even without the staged mutiny, a fate shared by numerous other figures who fought in Ukraine since 2014, often portrayed in propaganda as local "miners and tractor drivers" in the so-called civil war narrative.

Speculation has arisen regarding Yevgeniy Prigozhin's rumored possession of a collection of Kompromat, potentially containing compromising information about Vladimir Putin and other senior regime figures. This alleged leverage was reportedly intended for release in case of Prigozhin's untimely demise. Some of his mercenary forces, motivated by loyalty, issued threats to retaliate against those deemed responsible (Vladimir Putin and/or military leadership) for the assassination of their revered chieftain.

The Russian Volunteer Corps, a military unit operating within the Ukrainian Armed Forces, extended an invitation to Wagner PMC members who had refrained from participating in war crimes during their time in Ukraine—although such instances appeared quite rare. The offer was for them to join their ranks and confront Putin and the Russian military. 

Those Russians, often holding fascist and imperialistic views, who are now setting up improvised memorials for Yevgeniy Prigozhin in various Russian cities or engaged in the war have learned that the next mutiny or coup d'état must result in Vladimir Putin's demise. He, they argue, bears responsibility for the catastrophic war in Ukraine, having breached agreements with Prigozhin. However, the feasibility of these threats remains questionable, as the Wagnerites were disarmed (heavy armaments and artillery), bereft of significant resources, and severed from their influential leader's connections within both the ruling hierarchy and criminal circles.

While their capabilities remain restricted, it's conceivable that dissatisfied individuals could become involved in future insurrections, especially if a coup d'état orchestrated by elements within the regime occurs, or if Russian forces experience a collapse in Ukraine leading to internal turmoil. However, these individuals might also become targets of mid and low-tier purges following actions by higher echelons of power. Russia's non-democratic framework impedes crisis resolution through elections, and Putin's inability for criminal-like dealings within the elite was starkly demonstrated as unviable. Putin doesn't obey either formal agreements or his words, which is also a lesson for the Western partners willing to find a diplomatic solution to the "Ukrainian war."

The Russian military has lost a formidable and highly effective (within Russian context) fighting force, bolstered by considerable resources. The legacy of the Wagner enterprise is now being taken up by both established and emerging loyalists. It wouldn't be surprise if figures like Viktor Bout, dubbed the "Merchant of Death," are positioned to secure substantial African assets—his conspicuous presence at the recent Russia-Africa summit lends credence to this prospect. Nevertheless, it's unlikely that Putin will repeat the mistake of allowing an individual or faction to amass resources that could potentially threaten his personal authority.

Wagner's striking ability to achieve outcomes that the conventional Armed Forces struggled with highlights the clear inefficiencies of the existing governance model. Putin, invested billions into his war apparatus and attempted reforms on multiple occasions, obsessively cultivating an image of Russia as a potent state fortified by a formidable military. Yet, the mutiny's occurrence and its resolution exposed the limitations of Putin's authority, eroding his portrayal as an invincible strongman—an element pivotal within Russian political culture.

The public's support for the Wagnerites and the popularity of figures like Yevgeniy Prigozhin reveal the deep-rooted discontent prevailing within society. Escalating internal contradictions coupled with the progressively evident catastrophe triggered by the ongoing war foreshadow a monumental upheaval, unparalleled in recent Russian history. This convulsion might be catalyzed by domestic triggers or, more likely, by the inevitable successes of the Ukrainian Armed Forces. Though more robust and swift support from the West to Ukraine has been dragged back by the fear of Russia’s collapse, it’s highly likely to came about. It’s better for Ukraine and its partners to turn to contingency planning.

Centre for Defence Strategies (CDS) is a Ukrainian security think tank. We operate since 2020. 

segunda-feira, 27 de maio de 2013

Comercio exterior: fim da bonanca internacional?

Queda de básicos tira US$ 20 bi da exportação

Cifra considera retração nas vendas externas em dois anos, afetada pela baixa de preços

Márcia De Chiara, de O Estado de S.Paulo
27 de maio de 2013

SÃO PAULO - A queda nos preços internacionais das matérias-primas agrícolas, metálicas e do petróleo deve tirar cerca de US$ 20 bilhões das exportações brasileiras entre 2011 e 2013, nas contas da consultoria GO Associados. Em 2011, as vendas somaram US$ 196,9 bilhões e em 2012 foram US$ 183,7 bilhões. Para este ano, a previsão é de US$ 176,9 bilhões, quase US$ 7 bilhões menos de receita - em comparação ao ano passado - obtida com a venda de produtos básicos, que respondem por 70% das exportações brasileiras.
Praticamente todos as matérias-primas agrícolas e minerais estão com os preços em queda no mercado internacional por duas razões: o baixo crescimento dos países desenvolvidos e as incertezas sobre o desempenho da China, o grande comprador desses produtos. Entre 2011, ano de pico das cotações das commodities, e abril deste ano, os preços médios em dólar no mercado de commodities agrícolas, minerais e energéticas acumularam queda de quase 12%, segundo o índice CRB (Commodity Research Bureau), referência mundial.
Além dos reflexos negativos na receita de exportação e no saldo comercial do País, os preços em queda já começaram a ter impactos nos planos das empresas. A Vale, a maior produtora de minério de ferro do mundo, cortou em US$ 7,8 bilhões os investimentos programados para este ano. O analista da corretora SLW, Pedro Galdi, lembra que a Rio Tinto também reviu investimentos. O minério de ferro responde por pouco mais de 10% das exportações totais do País, ou US$ 30 bilhões.
Outro sintoma da mudança de humor das empresas ligadas ao setor de produtos básicos aparece nas consultas recebidas pelo Banco Nacional de Desenvolvimento Econômico e Social (BNDES) para obter financiamento. No setor químico, por exemplo, houve queda de 51,6% no volume registrado no primeiro trimestre deste ano ante igual período de 2012. No segmento de celulose, o recuo foi de 7% em igual período.
"O cenário hoje é de queda de preço das commodities e isso pesa no saldo comercial", afirma o diretor de pesquisa econômica da consultoria GO Associados, Fabio Silveira. Para este ano, ele projeta que as exportações brasileiras somem US$ 235 bilhões, recuo de 3% sobre 2012 ou US$ 7,6 bilhões menos. Dessa retração, US$ 6,8 bilhões serão provenientes da queda nas vendas de commodities agrícolas e minerais e das quase commodities, como produtos intermediários, além do petróleo.
Em termos de saldo da balança, Silveira calcula que o superávit este ano caia mais da metade: de US$ 19,4 bilhões em 2012 para US$ 8 bilhões. A retração será em boa parte provocada pelas commodities, além do aumento das importações.
Déficit. O presidente da Associação de Comércio Exterior do Brasil (AEB), José Augusto de Castro, acredita que a queda nos preços das commodities deve subtrair entre US$ 7 bilhões e US$ 8 bilhões das exportações brasileiras este ano. Além disso, Castro considera que a balança feche 2013 no vermelho, mas ainda não arrisca fazer projeções sobre o tamanho do buraco. Se a previsão se confirmar, será o primeiro déficit desde 2000. "Estamos no fio da navalha do déficit." No ano, até a terceira semana de maio, as exportações somam US$ 84,1 bilhões e as importações, US$ 89,2 bilhões. O déficit é de US$ 5,095 bilhões, segundo o Ministério da Indústria e Comércio.

terça-feira, 16 de abril de 2013

Ouro: a reliquia barbara em queda livre - NYTimes

Price of Gold Takes Flashy Fall; Other Markets Follow
The steep fall in gold led a broader sell-off across the markets. The S.& P. index declined the most in one day since early November.
By NATHANIEL POPPER
The New York Times, April 15, 2013

Gold prices tumbled 9 percent on Monday, the sharpest drop in 30 years, heightening fears that investors’ faith in the safe haven has been shattered.

The steep fall in gold, after a slump on Friday, led a broader sell-off in commodities and stock markets. The Standard & Poor’s 500-stock index declined 2.3 percent — its sharpest one-day decline since early November. Crude oil prices fell to under $90 a barrel, and copper dropped to a 17-month low.

The catalyst was disappointment over Chinese growth, which has been a bright spot in a global economy marred by uneven recoveries and Europe’s persistent debt problems.

A report on Monday showed that Chinese economic growth unexpectedly slowed to an annual pace of 7.7 percent in the first months of the year, from 7.9 percent at the end of 2012, suggesting that China’s demand for industrial materials would soften.

Weak regional manufacturing data in the United States also weighed on the United States stock market, as did the explosions in Boston later in the day.

Still it was gold that took the market spotlight on Monday.

The price of the metal has been undergoing an extraordinary reversal from a decade-long rally. Since reaching a high of $1,888 an ounce in August 2011, gold has been on a downward slope. The decline picked up pace on Friday, when gold fell 4 percent, officially taking it into a bear market, which is defined as a 20 percent drop from its recent high.

The damage worsened on Monday, when the price of an ounce of gold dropped 9.35 percent, or $140.40, to $1,360.60 for the April contract — the sharpest such one-day decline since February of 1983.

A number of banks, including Goldman Sachs, have recently lowered their forecasts for gold. But the recent drop has been greater than even the most pessimistic predictions.

“We’ve traded gold for nearly four decades and we’ve never … ever… EVER… seen anything like what we’ve witnessed in the past two trading sessions,” Dennis Gartman, a closely followed gold investor, wrote to clients on Monday.

The shift in gold’s fortunes presents a moment of reckoning for many so-called gold bugs, who had expected their financial lodestar to continue moving up in response to the Federal Reserve’s effort to stimulate the economy through bond-buying programs.

The assumption among gold bugs was that the flood of new money would cause inflation, making hard assets like gold more attractive. So far, though, there have been few signs of inflation taking root even as central banks in Japan and Europe have begun their own aggressive bond-buying programs.

“Gold has had all the reason in the world to be moving higher — but it hasn’t been able to do it,” said Matt Zeman, a metals trader at Kingsview Financial. “The situation has not deteriorated the way that a lot of people thought it could.”

The recent drop in gold prices has been partly attributed to signals from powerful members of the Fed that the central bank may begin to wind down its bond-buying programs. But the list of reasons to sell gold grows longer by the day. European politicians have indicated that Cyprus may need to sell off some of its gold holdings to pay for its bank bailout, which could lead other countries to do the same.

The market decline, like the decade-long run-up, has also been attributed to the new financial instruments that have made buying gold easier for a wide array of investors. The most prominent products are gold exchange-traded funds, which can be traded on stock exchanges, and which together hold as much gold as all but a few of the world’s largest central banks.

Hedge funds have used gold E.T.F.’s to gain exposure to the precious metal, but have been selling them off en masse in recent weeks. The largest such exchange-traded fund, with the ticker symbol GLD, had its most active day ever on Monday.

“The exits are only so wide and there are too many people trying to leave all of the sudden,” said Bart Melek, a commodity strategist at TD Securities.

Many gold analysts have said that the demand for physical gold is stronger than the demand for financial products linked to gold, like exchange-traded funds and futures contracts. But this has not been enough to prop up the market.

On Monday, the most obvious catalyst for the carnage was the disappointing Chinese economic data that led to talk that China will no longer need the same physical resources to expand.

In the commodities world, this did not hurt only gold. Silver dropped over 12 percent, platinum 5.6 percent and the benchmark oil contract was down 3.9 percent. Stock indexes fell 1.5 percent in Japan and 0.6 percent in England.

The S.& P. 500 dropped 2.3 percent, or 36.49 points, to 1,552.36 on Monday. The Dow Jones industrial average closed down 1.8 percent, or 265.86 points, at 14,599.20. The Nasdaq composite index fell 2.4 percent, or 78.46 points, to 3,216.49.

In the bond market, interest rates fell as investors shifted their money to less risky assets. The price of the Treasury’s 10-year note rose 9/32, to 10226/32, while its yield dropped to 1.69 percent, from 1.72 percent late Friday.