Finally, investors will be sceptical about the new BRICS rating agency's ability to compensate for losses in the event that
President-Elect Trump's threat to withdraw the U.S. from the Trans-Pacific Partnership (TPP) should be taken seriously, despite how mercurial he has already proven to be in failing to follow through on a variety of other campaign promises.
The bank is backed by Brazil, Russia, India, China and South Africa -- collectively known as BRICS countries.
As did the late Lee Kuan Yew during his iron-fisted rule in guiding Singapore's success, China is now advancing an "Asian way" in this newest of multilateral lenders.
But the diverse group, which has been meeting regularly since 2009, has struggled to come up with unified actions, often
The primary objectives of the NDB should be to achieve three zeros by 2050: zero poverty, zero unemployment and zero net carbon emission. I wish the NDB every success in redesigning the world to make it sustainable.
MOSCOW -- Countries like India and Brazil -- unlike, say, Germany and Japan a century ago -- are not seeking to overturn the world order. All they want is a place at the high table. Barring that, they have little choice but to build their own -- though India, Brazil and South Africa have reason to wonder if a Chinese-led world order would be an improvement on the current one.
BEIJING -- U.S. global dominance will gradually weaken and eurocentric standards in international norms will increasingly give way to pluralist standards. The decline of global organizations and the rise of regional ones will take place simultaneously.
The new talking point for the Republican Party -- actually, it's an old talking point in expensive new clothing -- is "America is in retreat."
BRICS Bank Is Mostly a Jointly Managed Sovereign Wealth Fund (SWF), and Opportune Time for a Japan-India SWF
Having attended many Board meetings of the World Bank Group as part of the Executive Offices, I was struck by similarities and also some major differences.