China heralds boost for emerging nations with BRICS Bank opening

Jul 21, 2015

China heralds boost for emerging nations with BRICS Bank opening

The biggest emerging economies opened their New Development Bank in Shanghai on Tuesday, strengthening China’s ability to offer developing nations the support traditionally given by the U.S. and Japan through organizations like the World Bank. The NDB — or BRICS Bank as it is ...

Nov 3, 2014

Avoiding Western networks

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All five BRICS countries — Brazil, Russia, India, China and South Africa — have vested interests in developing long-term alternative financial institutions for parking their money and moving it internationally, independent of the West's bullying instincts and addiction to sanctions.

Jul 22, 2014

Geopolitics trumps economics

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Western countries' insensitivity toward others' voices, values and interests lies behind the creation and evolution of BRICS (Brazil, Russia, India, China and South Africa), whose New Development Bank will give priority to loans for developing countries to finance infrastructure projects and industrialization.

Jul 22, 2014

Success of Chinese reform is key to BRICS' rise

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Last week, BRICS (Brazil, Russia, India, China and South Africa) took a decisive step toward building institutions that could plausibly challenge the long geopolitical and economic ascendancy of the West. But Vladimir Putin's posturing at the meeting just hours before a Malaysia Airlines jetliner ...

Jul 21, 2014

Banking on the BRICS

The financial heft of the BRICS group — Brazil, Russia, China, India and South Africa — has just advanced a step, at least symbolically, with its decision to launch the New Development Bank. A $100 billion reserve fund will be available to members that ...

Jul 15, 2014

BRICS neutrality on Ukraine a victory for Putin

A summit of the BRICS group of emerging market countries will abstain from criticizing Russia’s recent actions in Ukraine, Brazilian officials said, a diplomatic victory for President Vladimir Putin. The summit statement will make only a passing reference to Ukraine and will echo the ...

Jun 11, 2014

U.S. foreign policy marked by blatant hypocrisy

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It is a truth universally acknowledged that behavior by others inconsistent with social norms is condemned as hypocrisy but similar discrepancies in our own conduct is rationalized as understandable prioritization in the face of multiple goals. When the military deposed Egypt’s first freely elected ...