What BRICS Cannot and What It Can Deliver

... Russia, nor any other group member can impose its will or its agenda on the rest of the group. Therefore, comparing BRICS and G7 is like comparing a whale and an elephant—both animals are big, but they distinctly differ from each other. Alexander Korolev: ... ... can boast of the two innovative bodies that rival traditional West-made financial institutions—the New Development Bank, or NDB (which is regarded as a plausible alternative to IBRD) and the BRICS Contingent Reserve Arrangement, or CRA (a potential alternative ...