American disengagement in the world is not consequence free. The new BRICS bank announced in Fortaleza by Brazil, Russia, India, China, and South Africa is largely a political exercise, which has been given a big boost by American indecision on IMF quota reform. U.S. detachment and inaction have given the BRICS the political cover to …

Continue reading The BRICS Bank, Bretton Woods, and U.S. Disengagement