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• Published on 17 Aug. 2014 • Category : Finance • Tags : brics bank fail
Can BRICS development bank succeed where others have failed?On July 15 in Brazil, the smoke had just cleared on the 2014 World Cup, one of the most memorable in the competition’s history. Already, though, there was more global news to announce. During a summit of the BRICS nations -- an acronym for a coalition of nations consisting of Brazil, Russia, India, China and South Africa -- in Fortaleza, Brazil, the leaders announced the formation of a New Development Bank (NDB). The bank comes as a result of the BRICS nations -- all of whom have become major economic players recently -- not getting a corresponding amount of influence within the development (...)
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