The BRICS bloc of states have resolved to establish an alternative credit rating agency to counter western dominance in the financial markets. Will it work?
BRICS is slowly being written off as a bloc that can administer coherent political action.
BRICS goes into its eighth summit with lots of hurdles. Sanusha Naidu consideres its future prospects.
The BRICS bank is positioning itself to play a significant role in those areas in which the international financial institutions are seen to have failed.
When it comes to the global political economy, no one "talks left and walks right" more than China, a dominant player in global capitalism. South African and Chinese aspirations have much in common.
Since time immemorial, huge infrastructure projects have been financed with funds from the capital markets. Africa should not rely on development finance institutions.