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Democracy in Development: The BRICS Development Bank

by Isobel Coleman
April 10, 2013

A woman walks past the International Convention Centre where the 5th BRICS Summit was held, in Durban, South Africa, March 25, 2013 (Rogan Ward/Courtesy Reuters). A woman walks past the International Convention Centre where the 5th BRICS Summit was held, in Durban, South Africa, March 25, 2013 (Rogan Ward/Courtesy Reuters).

Yesterday I published an article on ForeignPolicy.com posing ten questions about the BRICS development bank, recently announced by BRICS leaders, and its implications for global development. One question is whether developing countries will welcome the bank. As I write:

Probably. China is known for extending loans and resources without conditionality around touchy subjects like governance, and if the BRICS development bank follows suit, it’s hard to imagine many countries saying no to easy money. Still, there’s likely to be some skepticism, in no small part because of China’s inevitably outsized role in the new bank and also because of the mixed reviews China gets from its global south trading partners.

You can read the article here and an excerpt on my blog here.

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