The world outcry: Shikoku joint big move trouncing American

Brazil, Russia, India, China and South Africa in response to a possible outbreak of currency wars build protective shields. The five countries to carry out preparatory work for the establishment by the Development Bank of the trade, investment and infrastructure projects aimed at using the local currency is being accelerated. Establishment of development banks in BRIC countries finance ministers' meeting held on March 15 in Moscow, will make a final technical and economic dimensions of argumentation.

The finance ministers' meeting should be made clear to the Development Bank of the extent of the progress of the preparatory work. The earlier Russian Ministry of Finance Anton · 西卢阿诺夫, said, if you can find the financial resources, the establishment of the bank's only the technical aspects of the problem. His Chinese counterpart Xie also held the same position. Expected, it was Russia and China will play in the Bank was founded in the role of the locomotive.

Russia and China, the problem does not lie in the registered capital where it comes from - they have been demonstrated, but the effectiveness of financing. The Moscow meeting of finance ministers should clarify the situation BRIC countries summit held in Pretoria on 26-27 March. The modern Development Institute consultant Nikita Maas connected Kafelnikov that funded most likely built on the basis of equality.

He said: "India is undoubtedly the country are increasingly accelerated urbanization which requires sufficient funds, a large number of foreign investors is exactly fancy urban construction of China, Russia and India have a considerable number of international reserves, they are very willing to engage in mutually beneficial investment. "

Development Bank also partners with new resources cooperation may Nikita Maas connected Kafelnikov think so.

He said: "BRIC countries are divided into two categories: Russia, Brazil, and South Africa is a resource-dependent economy countries, China and India belong to the global resource requirements, which is bound to promote the mining and resource processing field as well as the added value of global the implementation of the joint projects of the sexual aspects of the establishment of the production chain, where each partner can find their place. "

BRIC countries have signed the agreement on each other to provide credit in local currency, is to narrow the scope of the use of the dollar. The original intention to set up a development bank in the hope that it as the center of the credit-funded cooperation. But also for the sustainable development of the the G5 economies and emerging markets. It is to these countries in recent months, coming to a large number of cheap dollars.

In essence, the new trade war has already begun, because a large number of cheap U.S. dollar sell-off has led to the appreciation of the currencies of these countries. Which in turn against their exporters. Development banks can protect them, in order to avoid losses due to manipulation of the dollar and its severe shock, the Russian Diplomatic Academy of the Ministry of Foreign Affairs Boris, Shimei Korolev expound their own views.

Global is now looking for an alternative currency for the U.S. dollar. BRIC countries, the establishment of a development bank's efforts is a reflection of this trend. Essentially, the Development Bank issued to the U.S. dollar challenge BRIC country's economic strength, they said: has a strong potential for development. This is based on the use of local currency to strengthen cooperation prerequisite. "

40% of the world's population lives in the BRIC countries. Their GDP accounted for 20 percent of global GDP. Development Bank, will inevitably lead to the birth of the plate restructuring of the global financial system.

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