BRICS: Toward a Rio Consensus – The Globalist

The BRICS countries (Brazil, Russia, India, China, South Africa) set out to overcome Western domination and the legacy of the “Washington Consensus.”

 

This action could strike a true trifecta — recharge global economic governance and the prospects for development as well as pressure the World Bank and the International Monetary Fund (IMF) — to get back on the right track.

Now the BRICS are taking matters into their own hands. Their governments have been diligently putting together two new institutions that hold great promise — a new development bank and a new reserve pooling arrangement.

Source: www.theglobalist.com

See on Scoop.itGlobal Consensus

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