BRICS Negotiating To Establish New World Bank

As leaders of emerging market nations known as "BRICS" reveal plans to launch a new world bank, the specter of an alternative monetary system is driving financial decisions from Argentina to Russia and China – and threatening the dominance of the US dollar.

BRICS to bring together plans to create a $100 billion bank

The leaders of Russia, India, Brazil, China and South Africa are in meetings ending July 17 to bring together plans to create a $100 billion bank to compete with the World Bank and International Monetary Fund. The planed bank is a piece in...