Recent BRICS summit and Proposal for a New BRICS Development Bank
International development experts Raj M. Desai and James
Raymond Vreeland discuss the underlying drivers of recent actions by the BRICS:
Meanwhile, El-Erian wisely notes:
“In short, the BRICS
summit went well beyond just words in illustrating a global fragmentation
process that is picking up speed. The crucial takeaway for the West should be
that getting things back on track will require a much more serious effort to
reform the international monetary system in a way consistent with today’s
global realities.”
Also, of interest: