BRICS gathers pace as shared grievances with West fuel alliance
As U.S. election jitters hung over this week's meeting of global finance chiefs in Washington, a smiling Vladimir Putin was in the Russian city of Kazan welcoming leaders of countries which together make up nearly half the world's population.
The BRICS club of emerging economies may be a long way from rivalling the International Monetary Fund (IMF) or challenging U.S. dollar dominance. But the first summit with its new batch of members showed clear signs of its growing weight.
The final communique was long on words and short on detail about creating new payment and trade mechanisms which could by-pass Western-dominated structures - including, notably in Russia's case, sanctions imposed after its invasion of Ukraine. read more
As U.S. election jitters hung over this week's meeting of global finance chiefs in Washington, a smiling Vladimir Putin was in the Russian city of Kazan welcoming leaders of countries which together make up nearly half the world's population.
The BRICS club of emerging economies may be a long way from rivalling the International Monetary Fund (IMF) or challenging U.S. dollar dominance. But the first summit with its new batch of members showed clear signs of its growing weight.
The final communique was long on words and short on detail about creating new payment and trade mechanisms which could by-pass Western-dominated structures - including, notably in Russia's case, sanctions imposed after its invasion of Ukraine. read more