BRICS to eye joint bank, stock exchange tie-up at summit

[Nothing]

The setting up of a BRICS bank will be beneficial to all the BRICS members. Indonesia is the next candidate most eligible for the club. I do not think Turkey and Mexico should be considered.

BRICS should consider Saudi Arabia .. they are biggest in middle east

 

[manofwar]

BRICS should consider Saudi Arabia .. they are biggest in middle east

They aren't exactly growing fast though...
And even if they are BRICS is all about potential, and the way oil is being spent today, I dont see much potential in Saudi Arabia after 50-60 years

 

[Nothing]

Yes there are a lot of differences in the group which defeat tighter coalition. But the objective of setting up the bank and other financial cooperations is to break away from the IMF/World Bank/USD/Euro hegemony which is partcularly helpful if developing countries can only obtain funding from the aforesaid organisations at cut-throat rates with tons of bundles attached. The multi-lateral trades within BRICS also help avoid transactions going through the financial system of the west which can act as counterweights neutralising any unreasonable sanctions as the BRICS financial orgs grow and enlarge their sizes over time.

There will be difference when every one have right to speak and get equal treatment, unlike other western organization where only hand full of countries have right to speak and take decision..
But this time tone is set... BRICS spoke in one voice.. looking at news papers here in USA looks like ppl are not ready to accept that there can be alternative in world for G7 or for IMF in near future or some one can say .. "we will buy oil from Iran do what ever u want with your rules... "
After long time felt like even developing country can influence world at large...

They aren't exactly growing fast though...
And even if they are BRICS is all about potential, and the way oil is being spent today, I dont see much potential in Saudi Arabia after 50-60 years

That is the point... right now they control world energy production and influence prices, they have large investment across globe and lots of money, stable government ... BRICS countries need lots of energy and this can be good time to take them away from petro dollars .. even they need support from some stronger group ..
They can start industralization of their country with BRICS support for future... and they have good weight in ME

 

[Gnimgnay]

Nigeria-Indonesia-Mexico

for me

Only BRICS, I'd say. And it has to be proceeded with extra caution. You will never know who is going to be the next Greece to be bailed. These five countries should be fine.

 

[Arzamas 16]

Great idea

 

[punjabimunda]

man every year these countries meet they come out with something that could give west shivers. this meeting was by far the most successfull and promising. america should now be cursing goldman sachs for coining this term 10 yrs ago.

 

[Gnimgnay]

man every year these countries meet they come out with something that could give west shivers. this meeting was by far the most successfull and promising. america should now be cursing goldman sachs for coining this term 10 yrs ago.

Whoops, traps ahead then.

 

[itaskol]

hope pakistan can also join Brics and sco