Tag: US Dollar

BRICS Take a Step Away From Dollar

An invisible plot is being hatched on the geo-political front. The BRICS countries plan to establish their own development bank to give loans for infrastructure projects, bypassing the middleman in the form of the U.S. dollar. If we consider that the BRIC countries account for 14.6% of the world’s GDP, […]

Is BRICS Challenging the West?

The fourth BRICS summit representing Brazil, Russia, India, China and South Africa was held on March 28-29, 2012 in New Delhi. Despite the limited timeline, its results might be defined as outstanding. In any case it’s obvious that the leaders of the member countries had no intention to confine themselves […]