BRICS Summit 2013: A Rising Economic Challenge to the West - Audio Report
SEGMENT ONE
Jerry Robinson’s Analysis and Commentary
Jerry Robinson begins this week’s show with analysis of the BRICS Summit 2013. At this 5th annual summit held in Durban, South Africa, the top leaders from Brazil, Russia, India, China, and South Africa discussed economic cooperation and integration. Jerry, along with his co-host Jennifer Robinson, discuss one of the most important ideas that emerged from the summit: a new BRICS development bank that seeks to eventually challenge the World Bank in lending to emerging nations. While it will take years for such an institution to gain ascendancy, it is just another sign that emerging nations like China and India are on the rise as the West claims bankruptcy.
In addition to a large number of agreements signed by China and Russia earlier in the week, China and Brazil signed a new $30 billion currency swap arrangement that will remove the U.S. dollar from nearly half of the annual trade between the two nations. While these cooperative efforts may sound good, they represent a major challenge to the existing global financial order.
In Segment One, economist and best selling author, Jerry Robinson, provides his insights and analysis for the wise investor and the astute geopolitical observer.
Related Headlines
WHAT JERRY THINKS: China and Russia Relations Reach New Heights >>
BRICS Nations Plan New Bank to Bypass World Bank, IMF >>
OECD: Chinese Economy to Overtake U.S. by 2016 >>
http://ftmdaily.com/ftm-radio-show/brics-summit-2013/
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