Reuters/Sergio Moraes - India's Prime Minister Narendra Modi (L), Brazil's President Dilma Rousseff (C) and Chinese President Xi Jinping wave to photographers as they attend the official photo session for the 6th BRICS summit and the Union of South American Nations (UNASUR), in Brasilia July 16, 2014.

Opinion

What the New Bank of BRICS is All About

July 17, 2014, Raj M. Desai and James Vreeland

As leaders of the five BRICS countries have agreed to launch a new development bank, Raj M. Desai and James Raymond Vreeland discuss its purpose and implications on global development-finance landscape.