September 23, 2014

BRICS Bank: A Challenge to Bretton Woods or More of the Same?

Institute for Policy Studies
IPS Conference Room
1112 16th Street NW, Suite 600
Washington, DC 20036

Join the Institute for Policy Studies, the Center for Economic and Policy Research, and the Center for Civil Society for a progressive and healthy public examination of differences over the emerging transcontinental economic bloc between Brazil, Russia, India, China, and South Africa.

 The July Fortaleza summit of the Brazil-Russia-India-China-South Africa bloc suggests there is a new challenge to the West on financial, geopolitical, as well as potential environmental management terrains. But some progressive analysts differ as to whether there is a genuine alternative being constructed, or instead an amplification of the existing problems. From the Center for Economic and Policy Research, Mark Weisbrot sees the BRICS New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) as potentially countering the global influence of US- and Europe-dominated financial institutions; while Patrick Bond from the Center for Civil Society in Durban, South Africa, dismisses the phenomenon as ‘sub-imperialism’ and is helping construct a ‘brics-from-below’ network.

Join the Institute for Policy Studies’ Global Economy and Foreign Policy In Focus projects for a forrum to examine such questions in the spirit of healthy and progressive debate, as Mark and Patrick bare their positions for public scrutiny. The event will be moderated by Foreign Policy In Focus Editor, Peter Certo.