• Fri
  • Dec 19, 2014
  • Updated: 6:21pm

BRICS

BRICS (an acronym for Brazil, Russia, India, China and South Africa) refers to an association of leading emerging markets. South Africa was added in 2010. 

Xi Jinping seeks bigger voice for BRICS on global economic governance

The leaders of the five BRICS nations meet in Brisbane. Photo: EPA

President Xi Jinping said the leading developing countries should have a larger say in global economic governance during his visit to Australia for the G20 summit. Analysts said that fitted with China's efforts to promote its global economic status.

Monday, 17 November, 2014, 7:23pm 1 comment

BRICS countries' investment in education will change the world

All BRICS countries now have the school systems to enrol all children in primary education. Photo: Xinhua

At their recent summit in Fortaleza, Brazil, the leaders of the BRICS nations confirmed their resolve to become the world's new global economic powerhouse and leading architect of the international development agenda.

22 Sep 2014 - 4:17am

Can the BRICS lead?

Governor Raghuram Rajan of the Reserve Bank of India says the NDB was not intended as a rival to the World Bank and International Monetary Fund, but many think otherwise. Photo: Reuters

Although the New Development Bank was established by the BRICS bloc more than two months ago, discussion continues on the significance of the initiative.

18 Sep 2014 - 4:42am

BRICS development bank should challenge the Washington Consensus

The leaders of the BRICS countries at their summit in Brazil. Can their new project advance the interests of emerging economies in general? Photo: AFP

The five countries in the BRICS group have set up a development bank and a reserve fund to increase their influence in world affairs. Their desires are justified.

26 Aug 2014 - 3:43am

BRICS can be alternative lender

Chinese President Xi Jinping (second right) poses for a group photo with  Russian President Vladimir Putin (first left), Indian Prime Minister Narendra Modi (second left), Brazilian President Dilma Rousseff (center), and South African President Jacob Zuma during the sixth BRICS summit in Fortaleza, Brazil. Photo: Xinhua

Four years of inaction on an agreement to give China and other emerging economies a bigger say in the International Monetary Fund have spawned an alternative international lending institution.

30 Jul 2014 - 10:41am

Do we need a BRICS development bank?

We already have the China Development Bank and many other non-Western or regional development banks.

Does the world need another development bank? Brazil, Russia, India, China and South Africa have signed an agreement to create the Shanghai-based BRICS development bank.

17 Jul 2014 - 4:45am 6 comments

China sees itself taking key role in proposed BRICS international bank

Brazilian President Dilma Rousseff (centre), Russia's President Vladimir Putin (left), India's Prime Minister Narendra Modi (second left), China's President Xi Jinping and South Africa's President Jacob Zuma (right) pose for the official photograph of the 6th BRICS summit in Brazil. Photo: AFP

China is positioning itself as a major player in providing alternative financing to emerging markets as they meet for their summit in Brazil.

16 Jul 2014 - 9:19am 2 comments

Growth in emerging economies can help to close rich-poor gap globally

Asia has benefited greatly from the rising tide of global prosperity in the period to 2008. Photo: AFP

The presidents of Brazil, Russia, China and South Africa and the prime minister of India meet tomorrow in Fortaleza, Brazil, for the sixth annual BRICS summit.

14 Jul 2014 - 3:24am

Losers' Clubs spend good money on bad ideas

Development banks are a dated idea, a concoction of the international financial settlements made in the aftermath of the second world war.

Translation: the Losers' Club wishes to squander even more of the scant capital resources of its member governments by funding vanity investment projects that constitute little more than economic colonisation.

10 Jul 2014 - 6:50am

World Bank chief backs launch of BRICS bank

Jim Yong Kim said the World Bank agreed to launch a study in collaboration with Beijing on reforms for China's health sector.

World Bank president Jim Yong Kim welcomed the initiatives of establishing two new multilateral lenders, saying they would not pose a threat to the Washington-based institution.

9 Jul 2014 - 5:20am 1 comment

Tie-ups between bourses do not always live up to the hype

Hong Kong's Chinese Gold & Silver Exchange Society hopes to link up with the Shanghai Gold Exchange. Photo: Edward Wong

There has been much talk recently about alliances between mainland and Hong Kong markets.

29 Apr 2014 - 12:49am

As developed countries improve, the BRICs stumble

A man walks past a signage decoration for the BRICS summit outside Sheraton Hotel, the venue for the third BRICS summit in Sanya, Hainan province. Photo: Reuters

The developing countries of Brazil, Russia, India and China recovered quickly from the financial crisis five years ago. Their spending helped keep a global recession from becoming a global depression.

Now they’re stumbling.

6 Oct 2013 - 12:54pm

BRICS leaders set up US$100b currency reserve pool

Chinese Deputy Finance Minister Zhu Guangyao

Leaders from Brazil, Russia, India, China and South Africa have agreed to create a US$100 billion pool of currency reserves to guard against financial shocks, Chinese Deputy Finance Minister Zhu Guangyao said.

6 Sep 2013 - 4:16am

BRICS emerging economies to expand co-operation on internet security

Meng Jianzhu. Photo:Xinhua

Edward's Snowden's revelations about US cybersnooping appear to be pushing its rivals closer together as China and other major emerging economies agree to expand co-operation on internet security.

7 Jul 2013 - 5:50am

How they see it

The BRICS Leaders-Africa Dialogue Forum in Durban. Photo: Xinhua

Making real progress on increasing economic co-operation between the BRICS (an association of leading emerging economies Brazil, Russia, India, China and South Africa) is going to take significant political will, which may not be there.

31 Mar 2013 - 2:08am

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