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Washington - Emerging Nations Plan Their Own World Bank, IMF

Jul 14, 2014 at 11:48 PM

Washington - Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund. Brazil, Russia, India, China and South Africa —the so-called BRICS countries — are seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America...

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