... combines the mechanisms of regional and global governance.”
I share the view that BRICS has the ingredients of serving as a platform for transforming the current system of global governance in the direction of greater openness and inclusiveness. All BRICS countries are present in all of the main regions of the Global South; they have created new institutions such as [the New Development Bank] that prioritize sustainable development and greater cooperation along the South-South axis.
While there may be occasional difficulties and disagreements among members, the overall track-record of BRICS cooperation provides a firm ...
... new project is the joint exploitation of the
Klyuchevskoe gold deposit in the Trans-Baikal region
. Expected investments are about 400–500 million dollars (producing about 6.5 tons of gold a year).
EPA / XING ZHE/ Vostock Photo
Yury Zaytsev:
BRICS New Development Bank: From Private
to Public
The leaders of the BRICS countries also held bilateral meetings. Thus,
Russia and India alone
signed 18 agreements on joint activities in various areas, including selling
S-400 missile systems
to India and ...
... Americans, Africans and Asians tend to prefer seeking intra-regional or South-South sources in order to evade the burdensome commitments imposed by the IMF and the World Bank.
There are Never Too Many Banks
EPA / XING ZHE/ Vostock Photo
Yury Zaytsev:
BRICS New Development Bank:
From Private to Public
It seems premature to suggest that the BRICS countries are undermining the fundamentals of the economic world order, as they undeniably are part and parcel of it. Quite the contrary, they are trying to expand ...
... all probability first await the inauguration of the New Development Bank before any other kind of development takes place.
Therefore, an improved BRICS media image relies on the appropriate actions accounted for at all three narrative levels. With BRICS’ current collective efforts of establishing the New Development Bank, the strategic narratives concerning the bank’s role within the international financial order (system), each Member States’ rights and responsibilities (identity) and the adopted coordinated steps (issue) will materialize ...
... of a universal organisation.
Furthermore, it should be mentioned that the BRICS are among those leading the way to the creation of a new international financial framework. At the 7th BRICS Summit in Ufa the long and tedious creation process of the New development Bank as well as the BRICS Contingent Reserve Arrangement finally came to an end. Agreements ratified and documents signed, these new enlightened financial institutes, who are to be governed by the principal of absolute equality, are due to start functioning in the nearest ...
... College, and Professor
Arun Mohanty
, Chairperson of the Centre for Russian and Central Asian Studies, Jawaharlal Nehru University to share their impressions about the results of the BRICS summit and to express their attitude towards the creation of the New Development Bank, BRICS membership expansion and strengthening of the influence of this organization in the world.
Debasish Nandy:
It is very too early to comment regarding the role of BRICS controlling the world economy and international relations
Arun Mohanty:
The ...