Commodity Trade Mantra

Posts Tagged ‘BRICS Summit’

BRICS Bank Officially Launches As Sun Sets On US Hegemony

On Tuesday, ahead of this year’s summit in Ulfa, the BRICS countries officially launched the new bank along with the reserve currency pool. Brazil, Russia, India, China and South Africa (BRICS) will also look to begin settling more trade in national currencies. The Chinese yuan as the leading currency can be used in settlements among BRICS member states.

What The World Bank Actually Does

What is the World Bank, what does it do & why is it important for the BRICS to challenge its hegemony in the development & poverty reduction arenas? For answers, we need to examine both – the official history that it touts to the outside world & real history of its part in plundering the developing world that it is supposedly there to help.

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