Interviews from Washington DC - BRICS Countries and Their Challenges

In today´s edition of Interviews from Washington, our host Jorge Gestoso interviews Nancy Alexander of the Heinrich Böll Foundation. Our guest remarks that the post World War II era is fading and a new panorama appears with the emergence of new market powers including Brazil, Russia, India, China and South Africa, collectively known by the acronym BRICS. These five countries represent 40% of the world population and 20% of the world economies. The discussion centers on the development of new structures such as an international credit rating agency that functions with integrity and takes into effect risks such as global warming and environmental degradation. BRICS is also working to develop alternatives to the International Monetary Fund (IMF), that will break the current monopoly of power and benefit the emerging powers. Nancy Alexander comments that a new development bank is only one of the innovative solutions that is on the drawing board. teleSUR