BRICS Bank Off to Slow Start

Chinadialogue published on 14 November 2019 an article titled "What Happened to BRICS Bank's Promise to Revolutionise Development Finance?" by Manuela Andreoni, Dialogo Chino's Brazil editor.

Five years after its creation, the BRICS' New Development Bank has yet to approve loans to any non-member developing country. They have all gone to BRICS' members China, India, Brazil, Russia, and South Africa. The author argues that the criteria for choosing investments remain vague.

BRICS New Development Bank

The South African Institute of International Affairs published in June 2016 a study titled "The New Development Bank: Moving the BRICS from an Acronym to an Institution" by Talitha Bertelsmann-Scott, Cyril Prinsloo, Elizabeth Sidiropolous, Lesley Wentworth and Christopher Wood. The paper tracks the historical development of the New Development Bank, investigates modalities around its operations, and looks towards the likely impact it will have on development finance.

In a related piece, Foreign Policy published on 6 July 2016 an article titled "The World's Rising Powers Have Fallen" by Suzanne Nossel. It highlights the problems facing several of the BRICS and suggests they will not threaten the Western economic order anytime soon.

BRICS New Development Bank and China's Market Slump

BizNews.com published on 4 September 2015 an interview with Leslie Maasdorp, vice president of the BRICS New Development Bank, titled "Chinese Market Slump Won't Influence BRICS Bank Commitment."  Maasdorp, who is resident at the New Development Bank head office in Shanghai, expressed little concern that China's currency devaluation and market slump would impact negatively the ability of the New Development Bank to meet its commitments. 

The BRICS: the Northern and Southern Connections

The Diplomatist published in August 2015 an analysis titled "Ufa and BRICS-SCO Connection Eurasia-Indian Ocean Nexus" by Francis Kornegay, Institute for Global Dialogue in South Africa.  He notes the differences between the northern and southern members of the BRICS and suggests that India may be the linchpin between the two groups.

Are the BRICS on the Same Page?

The recently concluded BRICS' Summit in Ufa, Russia, has resulted in a torrent of analysis about the organization.  I include three provocative analyses below.

The Carnegie Moscow Center published on 8 July 2015 an analysis titled "Why Do Brazil, Russia, India and China Need BRICS?" by Alexander Gabuev, Andrey Movchan, Petr Topychkanov, and Sergei Vasiliev.  It compares the different interests of four of the member countries in the BRICS.

Commodities Now published on 7 July 2015 an article titled "BRICS Trade Strategy: Time for a Rethink."   It looks at trade distortions among the member states.

Quartz India published on 9 July 2015 an article titled "Despite the Happy Photos and Handshakes, the BRICS Are Frenemies in Trade" by Madhura Karnik.  It also focuses on trade competition among the member nations.

BRICS New Development Bank and Africa

Modern Diplomacy published on 10 June 2015 a commentary titled "BRICS Bank Could Change the Game" by Kester Kenn Klomegah, an independent researcher with considerable experience in Moscow. 

The author reviews the genesis of the BRICS New Development Bank, which is intended to establish a $100 billion pool of currency reserves, and suggests that it could result in the BRICS becoming powerful players in global decision-making.