Negotiations to launch new BRICS bank hit snag - source

[Mech]

China has enough to finance their own bank with $100b. I don't see why they need to include other BRICS other than good gesture.

Hahaha ! No.

China needs BRICS participation if it hopes to set up an alternate system to rival the ones biased towards the US. Otherwise no one would use it, which kind of defeats the purpose.

 

[Jlaw]

Hahaha ! No.

China needs BRICS participation if it hopes to set up an alternate system to rival the ones biased towards the US. Otherwise no one would use it, which kind of defeats the purpose.

In your indian dreams

 

[Abingdonboy]

Do not ask China to pay more than 40% while ask China to take an equal share of rights in the end.

From all I've read on this topic nowhere is it mentioned that China would be contributing more than anyone else, all 5 nations would contribute an equal $40BN share.


And it is fair enough for India not to want to play a minor role to China going foreword. Looking Long term China will be India's main rival not just in the region but on the global stage, why would India want to disadvantage itself from day one on this front?

 

[55100864]

Affirmative action has gone viral

seems the BRICS will become a charity organization to end the western domination of Red Cross.

 

[ephone]

Where do you get the information that all five nations will pay equally at $40 billion???

Initially, the number is $41 billion for China and $5 billion for South Africa.

Well, now it seems that China does not have to pay that much. I think China is glad to pay an equal share.

From all I've read on this topic nowhere is it mentioned that China would be contributing more than anyone else, all 5 nations would contribute an equal $40BN share.


And it is fair enough for India not to want to play a minor role to China going foreword. Looking Long term China will be India's main rival not just in the region but on the global stage, why would India want to disadvantage itself from day one on this front?

 

[Beidou2020]

Hahaha ! No.

China needs BRICS participation if it hopes to set up an alternate system to rival the ones biased towards the US. Otherwise no one would use it, which kind of defeats the purpose.

Actually our own development bank can do the same thing as the WB and ADB. The purpose is to lend out money and China has $4 trillion in reserves.

The alternate to WB can be the China's development bank. Same purpose and without needing the approval of other BRICS.

China is the main player in BRICS, without China no one cares about BRICS.

India is an insignificant player compared to China.

From all I've read on this topic nowhere is it mentioned that China would be contributing more than anyone else, all 5 nations would contribute an equal $40BN share.


And it is fair enough for India not to want to play a minor role to China going foreword. Looking Long term China will be India's main rival not just in the region but on the global stage, why would India want to disadvantage itself from day one on this front?

Looking long term, America will be the only rival to China. India grossly overestimate its power based on faulty assumptions. India is by FAR the minor player to China NOW and this will remain so for the rest of this century and beyond.
India will never close the gap with China, the gap is widening in fact.

BRICS is only relevant due to Chinese economic and financial power. You remove China from BRICS and all you have is a bunch of small dead economies. China is by far the biggest player in BRICS and thus China will have the final say over things. All are equal but some are more equal than others.

China is the largest or 2nd largest net creditor nation and India is a net debtor nation. Chinese foreign exchange reserves are over $4 trillion and China's sovereign wealth fund has assets nearly $1 trillion, Chinese policy banks have assets over $1 trillion.

India aint touching China this century.

 

[Abingdonboy]

It's strange India is pushing for New Delhi and not Mumbai- it's finical capital, China is pushing for Beijing after all.

Actually our own development bank can do the same thing as the WB and ADB. The purpose is to lend out money and China has $4 trillion in reserves.

The alternate to WB can be the China's development bank. Same purpose and without needing the approval of other BRICS.

China is the main player in BRICS, without China no one cares about BRICS.

India is an insignificant player compared to China.



Looking long term, America will be the only rival to China. India grossly overestimate its power based on faulty assumptions. India is by FAR the minor player to China NOW and this will remain so for the rest of this century and beyond.
India will never close the gap with China, the gap is widening in fact.

BRICS is only relevant due to Chinese economic and financial power. You remove China from BRICS and all you have is a bunch of small dead economies. China is by far the biggest player in BRICS and thus China will have the final say over things. All are equal but some are more equal than others.

China is the largest or 2nd largest net creditor nation and India is a net debtor nation. Chinese foreign exchange reserves are over $4 trillion and China's sovereign wealth fund has assets nearly $1 trillion, Chinese policy banks have assets over $1 trillion.

India aint touching China this century.

Look 30-40 years into the future, India will be far from "insignificant", to presume the current Chinese supremacy over India will last forever is nonsensical.

 

[Beidou2020]

It's strange India is pushing for New Delhi and not Mumbai- it's finical capital, China is pushing for Beijing after all.



Look 30-40 years into the future, India will be far from "insignificant", to presume the current Chinese supremacy over India will last forever is nonsensical.

To assume 'India' will be a country 30-40 years into the future is nonsensical. India has dozens of separatist movements and as they get a voice they will want independence. India will have a bigger economy than now but so will other countries including China.

India is a highly corrupt country that cares too much about religious things. The Indian political system, its bureaucracy, its caste system will always be barriers. Among many other things.

China will be a superior power to India not just this century but well beyond that.

America will be China's only global rival. The whites are far too smart to become irrelevant. Just look at how Europe formed an entire union to stay relevant. Asia could unite in a similar way well into the future.

The globalists definitely don't want nation states. The world will eventually form into regional unions. It will be economic unions, then financial, then political. EU is the first union but won't be the last.

 

[ephone]

In addition, equal share system won't work. The five nations in the BRICS have different financial strength with China way more stronger.

If you want to have equal shares, you have to not only contribute equally but also contribute additional funds later equally.

It will be hard to keep that going all the time.

Not a single major financial organization in the world works that way.

Even political organizations do not work that way as well.

Just like a firm's IPO dictating each shareholder buys the same amount, and cannot buy more or less so as to achieve equal rights among all shareholders.

Have you seen any public company doing so???

Maybe communist time.

An equal-share based BRICS bank won't last long and won't work well either.

 

[Luftwaffe]

Make it easier, each nation put $20 billion there and problem solved.

Do not ask China to pay more than 40% while ask China to take an equal share of rights in the end.

The world does not work that way.

Next india would say BRICS HQ should be in their country just like Cricket monopoly and cheating, BRICS shall fail.

@JanjaWeed HQ in Pakistan neutral President as zardari and senior board member as nawaz sharif.

 

[Beidou2020]

In addition, equal share system won't work. The five nations in the BRICS have different financial strength with China way more stronger.

If you want to have equal shares, you have to not only contribute equally but also contribute additional funds later equally.

It will be hard to keep that going all the time.

Not a single major financial organization in the world works that way.

Even political organizations do not work that way as well.

Just like a firm's IPO dictating each shareholder buys the same amount, and cannot buy more or less so as to achieve equal rights among all shareholders.

Have you seen any public company doing so???

Maybe communist time.

An equal-share based BRICS bank won't last long and won't work well either.

EXACTLY.

This is why the US has the biggest vote in WB and IMF because they contribute the most to the WB and IMF. If you contribute more money, you get higher voting share.

South Africa won't be able to contribute as much as China but they have the same voting share as China.
Outrageous.

China will not increase the capital to the fund as we won't get anything more in return. We will just use our own development bank to bypass the BRICS bank. BRICS bank will be only a symbolic bank.

BRICS bank is designed to be a failure from the start. Typical Indian decision making, they care more about 'what's right' than what will work. This is why they are behind China and falling behind each year.

 

[A.Rafay]

Got an easy solution... make HQ in a non-BRICS country!

Make it in Pakistan, problem solved

 

[Contrarian]

BRICS Bank launched, first president to be from India!!

 

[notgoodenough]

Thats a very ignorant personal opinion based on a large part on misguided racism and outdated nationalism. I posted a fact. Please try to catch up. Since you obviously cant keep up.

China has enough to finance their own bank with $100b. I don't see why they need to include other BRICS other than good gesture.



Affirmative action has gone viral



Doomed to fail.

"The BRICS bank will be headquartered in Shanghai and India will preside as president the first year."

 

[Jlaw]

BRICS Bank launched, first president to be from India!!

Now it's definitely going to fail.