#MintPlainFacts | Six more countries are set to join the #BRICS bloc, which was formed in 2009 as a way to counter the West’s hegemony. How should India punch above its weight in this revamped bloc?
Mint explores the pulls and pressures: livemint.com
Mint explores the pulls and pressures: livemint.com
#MintPlainFacts | The process behind the selection of the new members is not known, but over 40 countries had reportedly expressed interest.
The revamped group has its task cut out in the post-pandemic era: to bond over strategic interests and push them on the global agenda.…
The revamped group has its task cut out in the post-pandemic era: to bond over strategic interests and push them on the global agenda.…
#MintPlainFacts | #BRICS gets its currency from its fast-rising share in global #GDP.
Its members’ share in the world economy has risen for most part of its existence, while that of the traditional dominant advanced economies (#G7) has dwindled.
Read:…
Its members’ share in the world economy has risen for most part of its existence, while that of the traditional dominant advanced economies (#G7) has dwindled.
Read:…
#MintPlainFacts | The only noteworthy outcome, say analysts, is the New Development Bank (NDB), or “#BRICS bank".
The NDB aims to give 30% of its loans in local currencies to protect members from exchange rate risks against the dollar.
Read: livemint.com
The NDB aims to give 30% of its loans in local currencies to protect members from exchange rate risks against the dollar.
Read: livemint.com
#MintPlainFacts | China is already pushing for trade in the yuan with several nations, including some new members.
Read: livemint.com
Read: livemint.com
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