The BRICS group of nations represent more than a fifth of the global economy.
The news sources issued by their public relations people are tonight talking up closer financial ties.
They are off to a summit in Russia on the subject.
A grand concept? But who will write the checks?
Most of the BRICS actually qualify for World Bank aid for a reason.
Is the new BRICS institution going to “borrow from Peter to pay Paul, so to speak.
Of Brazil, India, Russia, China, and South Africa, only China may have sufficient “reserves” in these troubled times to send money to the others.
Funding trillions of dollars in global rail and port and highway projects from this group “seems to be a streatch”
What do you think?
To read the entire Bloomberg article, go to http://bloom.bg/1KPJWsp