Aug 12 2014

Brics bank ought to be welcomed by poorer countries

Professor Robert Wade

Professor Robert Wade

From Professor Robert Wade and Dr Jakob Vestergaard, published by the Financial Times on 6th August, 2014.

Sir, David Pilling says, in The Brics bank is a glimpse of the future” (July 31), that “the world has changed, mostly for the better, as poor countries close the gap on rich ones”, and that the Brics bank is to be welcomed, because it will bring competition and bypasses the problem of the Bretton Woods organisations failing to expand the Brics’ governance voice in line with their growing weight in the world economy.     Read the full article at

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