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It's on the horizon, BRICS's new development bank. [Copy link] 中文

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Snowipine

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Post time 2014-7-9 03:51:50 |Display all floors
Five major emerging economies, Brazil, Russia, India, China and South Africa--known as BRICS-are jointly aiming during an upcoming summit in Brazil to set up a $50 billion development bank to fund extensive infrastructure projects.

According experts and insiders, that now the "time is ripe" to announce the BRICS development bank during the upcoming July 15-17 summit in Fortaleza, Brazil.

It is said that the new bank, along with a 50 billion USD emergency reserve, will help the five nations become less dependent on the the US dollar and fend off exchange-rate turbulence, and the establishing of the bank will mark a milestone in the current international currency system that has long been dominated by the US and Europe.

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Post time 2014-7-9 11:06:57 |Display all floors
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Roach Exterminator

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Post time 2014-7-9 13:46:32 |Display all floors
The world could always use toilet paper Ducky - not to worry.
I'm just here for the money

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Post time 2014-7-9 17:09:48 |Display all floors
BRICS's new development bank.

mouth water more than tea.

in the first place................they will have to find  the US$ for capital.





I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2014-7-10 12:20:22 |Display all floors
jay_dee Post time: 2014-7-9 13:46
The world could always use toilet paper Ducky - not to worry.

Mr. Jaybird!

That's a lot of MOJO for you.
Threat to the US$.
So it seems.

Cheerios!

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Post time 2014-7-10 16:20:53 |Display all floors
I'm not a tad bit worried, sit down, have a cool drink and watch the show.
I'm just here for the money

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Snowipine

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Post time 2014-7-11 06:26:22 |Display all floors
zglobal Post time: 2014-7-9 11:06
It sounds like a good idea.

However if China keeps printing new currency at the current rate the Yu ...

Churning out heaps of bills is not a good idea to stimulate economic growth, such as world people experienced fresh examples QE1, QE2. Seems here is little people mock the QE1 or2 with one or two opinions.

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