...Not the 1st time I've seen Observer writers plagiarize mi tings
Those with money will continue to make the rules
Sunday, May 03, 2015
Brasilia, Brazil — Leaders of the BRICS and South American nations pose for a group photo at the BRICS summit at Itamaraty palace in Brasilia on Wednesday, July 16, 2014. Back row (from left), are Uruguay’s President Jose Mujica, Peru’s President Ollanta Humala, Guyana’s President Donald Ramotar and Colombia’s President Juan Manuel Santos. Front row (from left), are Argentina’s President Cristina Fernandez, Russia’s President Vladimir Putin, India’s Prime Minister Narendra Modi, Brazil’s President Dilma Rousseff and China’s President Xi Jinping. (PHOTO: AP)
THE tectonic shifts in the distribution of global economic activity and the consequential reallocation of geo-political power require either technical, managerial and political change in traditional development banks, starting with the World Bank, or the emergence of new development banks.
If these changes are not forthcoming, the traditional development banks will be marginalised and their role diminished. The BRICS (Brazil, Russia, India, China and South Africa) have led initiatives to form new development banks as a reaction to the lack of change in economic governance arrangement in the existing development banks.
Those with money will continue to make the rules
Sunday, May 03, 2015
Brasilia, Brazil — Leaders of the BRICS and South American nations pose for a group photo at the BRICS summit at Itamaraty palace in Brasilia on Wednesday, July 16, 2014. Back row (from left), are Uruguay’s President Jose Mujica, Peru’s President Ollanta Humala, Guyana’s President Donald Ramotar and Colombia’s President Juan Manuel Santos. Front row (from left), are Argentina’s President Cristina Fernandez, Russia’s President Vladimir Putin, India’s Prime Minister Narendra Modi, Brazil’s President Dilma Rousseff and China’s President Xi Jinping. (PHOTO: AP)
THE tectonic shifts in the distribution of global economic activity and the consequential reallocation of geo-political power require either technical, managerial and political change in traditional development banks, starting with the World Bank, or the emergence of new development banks.
If these changes are not forthcoming, the traditional development banks will be marginalised and their role diminished. The BRICS (Brazil, Russia, India, China and South Africa) have led initiatives to form new development banks as a reaction to the lack of change in economic governance arrangement in the existing development banks.
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