chem1st Posted March 31, 2012 Share Posted March 31, 2012 http://articles.timesofindia.indiatimes.com/2012-03-30/india/31260147_1_brics-chinese-currency-capital-flows-and-commodity NEW DELHI: BRICS nations on Thursday decided to examine the viability of a development bank for developing countries, besides agreeing to make it a little simpler for those trading within the group by settling transactions in local currency. But in both cases, the outcome fell short of expectations as four members - India, Russia, Brazil and South Africa - seemed to fear the clout that China would enjoy if the proposal to set up a bank and move to a single currency went through. A new world bank! Link to comment Share on other sites More sharing options...
GreenyGreen Posted March 31, 2012 Share Posted March 31, 2012 Why do I get the feeling poorer nations will suffer Link to comment Share on other sites More sharing options...
Jaywalker51 Posted March 31, 2012 Share Posted March 31, 2012 http://articles.timesofindia.indiatimes.com/2012-03-30/india/31260147_1_brics-chinese-currency-capital-flows-and-commodity A new world bank! I wouldn't have much confidence in a bank governed in any respect by Russia:shakes: Link to comment Share on other sites More sharing options...
Anna B Posted March 31, 2012 Share Posted March 31, 2012 http://articles.timesofindia.indiatimes.com/2012-03-30/india/31260147_1_brics-chinese-currency-capital-flows-and-commodity Interesting.... On the face of it I wouldn't blame them for setting up their own bank for future development, but in a world that is a global market I don't see how it would work. Are they trying to set up a kind of EU of BRIC counties? In which case I wish them the best of luck... Link to comment Share on other sites More sharing options...
green Posted March 31, 2012 Share Posted March 31, 2012 The BRIC's have been trying to pull away from the dollar for a long time. This collaboration is a huge event in monetary purposes and ive been astounded that there has been very little in the UK press about it. Watch this space as the saying goes... Link to comment Share on other sites More sharing options...
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