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BRICS create development bank, ‘mini-IMF’
The BRICS group of emerging powers created a Shanghai-based development bank and a reserve fundseen as alternatives to Western-led institutions.
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The 2013 BRICS Summit, under the theme “BRICS and AFRICA: Partnership for Development, Integration and Industrialisation”,
The organization, which groups Brazil, Russia, India, China and South Africa
Sources:
http://news.yahoo.com/brics-create-de…
http://www.bloomberg.com/news/2014-07…
http://www.chinadaily.com.cn/china/at…
http://voiceofrussia.com/2013_10_28/B…
Read more at http://investmentwatchblog.com/economic-warfare-begins-brics-war-against-u-s/#e0j2zHuSrYwifdfh.99