From Quartz: The BRICS nations created their own bank. The - TopicsExpress

From Quartz: The BRICS nations created their own bank. The countries agreed to fund a $50 billion development bank and a $100 billion currency exchange reserve as a counterweight to the US-dominated IMF and World Bank. The New Development Bank (NDB) will be headquartered in Shanghai, but its first president will be Indian. Will the American dollar remain the worlds reserve currency, and what are the implications for our economy? This could be epic.

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