A Look Ahead to Emerging International Financial Institutions
The BRICS Bank, the AIIB, and the Silk Road Fund are structured similarly to existing international financial institutions and will do much to help developing countries grow.
The BRICS Bank, the AIIB, and the Silk Road Fund are structured similarly to existing international financial institutions and will do much to help developing countries grow.
The BRICS bank is both an alternative to the IMF and the World Bank, and a triumph for cooperation over the pursuit of narrow national interests.
The BRICS group is important to China because it is the rising power’s first successful effort to build its own global network with powerful non-Western countries.
While the collective economic power of Brazil, Russia, India, China, and South Africa may be waning, the foundation of the group’s political partnership remains strong.