The west must wake up to the growing power of the Brics
The fourth annual Brics summit between the leaders of Brazil, Russia, India, China and South Africa concluded in New Delhi last month. This group of fast-growing developing economies that now number among the 10 largest in the world, plus South Africa, represents almost half the world's population and a growing share of its production. The Brics' political clout has grown with their importance to the world economy and the latest summit declared its intention to set up a development bank to mobilise "resources for infrastructure and sustainable development projects in Brics and other emerging economies and developing countries, to supplement the existing efforts of multilateral and regional financial institutions for global growth and development".… Seguir leyendo »