The article reads well. The need for economic cooperation among the
developing economies is paramount and the idea of establishment of a
bank by these economies will definitely bring the equilibrium very
badly needed by them and the IMF and world bank will also shed their
flat and come to senses.The capital for this bank can be based on the
development Index of these nations or on the basis of population. The
bank once formed can take care of the capital flows and help these
nations with adequate funds for the infrastructure development.Even the
Exchange rate fluctuations can be regulated to a great extent as the
Bank will have sufficient reserves to control and regulate the flights
of capital.
Dr.T.V.Gopalakrishnan
(This comment is in response to an Article BRIC by BRIC that appeared in ET dated 28/03/11)
Dr.T.V.Gopalakrishnan
(This comment is in response to an Article BRIC by BRIC that appeared in ET dated 28/03/11)
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