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shanghai may become the headquater for BRICKS development bank [Copy link] 中文

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Post time 2014-7-14 22:01:47 |Display all floors
This post was edited by moonshooter at 2014-7-14 22:42

Brazil, China, India, Russia and South Africa are due to sign off on the new institution on Tuesday, along with an emergency reserves fund, after two years of negotiations, a major step for the diverse group known more for its anti-Western rhetoric than coordinated action.
Russian presidential adviser said last week that bank would be based in Shanghai, mainland China's financial capital, citing discussion papers prepared by the member countries. In a further sign that an agreement had been reached on the headquarters, an Indian government official on Monday played down the debate and said India's top priority was to make sure members of the institutions all had equal voting rights, unlike Western-run multilaterals they seek to challenge, such as the World Bank.

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Post time 2014-7-14 22:59:32 |Display all floors
New Delhi,India is competing with Shanghai at the same time. India and China have a complex relationship marked by a border dispute that stretches back decades and an unequal trade balance that favours Beijing. Modi, who took office in May, is due to meet bilaterally with China's President Xi Jinping at the summit for the first time since his election.
China's economy is larger than that of all the other BRICS put together. Indian media reported last week that the members were locked in intense negotiations about the amount of capital each country would commit to the bank, with India concerned that China wanted to use financial might to dominate.
The only common points of BRICKS are that they are all emerging ecomomic forces and are under the threat of major forces,they do not share same political ideology and there do not exist much natural intimacy between them.So they still have a long way to settle inner contradictions.

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Post time 2014-7-15 05:50:42 |Display all floors
HQ in SH would be a disaster.
China is not transparent or forthcoming with regard to banking and regulations.
Getting money in and out could be troublesome.
I'm just here for the money

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Post time 2014-7-15 06:42:03 |Display all floors
The posibility of set the Bank's headquaters in Shanghai is high.

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Post time 2014-8-24 10:56:05 |Display all floors
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Post time 2014-8-24 11:04:58 |Display all floors
jordan_c_fan Post time: 2014-8-23 18:56
They will hit the brick wall if they developed BRICKS.

Not if they're gold bricks.
If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Post time 2014-8-24 11:15:58 |Display all floors
There is a simple imperative and stark reality for the members of BRICS and other such countries - "Hang together or you will each hang separately!"
If they get into petty oneupmanship and bickering, nothing would delight the current global masters more.
Lets see how they go. The idea and motive for BRICS is a good one, as a start. It will all come to actual execution and action.
My friend the Black Swan

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