Ever since Goldman Sachs economist Jim O’Neill defined the BRIC group of countries in 2001, policymakers have been closely watching the rise of the presumed leaders of the 21st century. And it was widely expected that as Brazil, Russia, China, India and recently added South Africa exercised growing power in global politics, they would also play a larger role in efforts to promote global development by using their own success as a template for smaller and lesser developed states. At their recent summit in New Delhi, the BRICS heads of state signaled their intention to take up that responsibility. The […]
BRICS Not Ready for Joint Development Bank
