Don't bank on BRICS

The proposal of a BRICS bank, to be set up as an alternative to existing global lending agencies, for disbursing funds to core sector projects within the five-nation grouping and other emerging economies, is an idea that should be viewed with a healthy dose of caution. China, Russia, Brazil, India and South Africa appear to be coming together with the ostensible ambition of standing up for the interests of emerging and developing countries.

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