By Esther Tanquintic-Misa: Subscribe to Esther's RSS feed
January 19, 2012 1:12 AM EST
The question looming amid the maddening eurozone financial crisis now is, will the BRIC (Brazil, Russia, India and China) nations consider lending a helping hand to a world that has yet to officially and formally recognise its economic hold in the global market today?
After the International Monetary Fund (IMF) and World Bank (WB) both forecast an impending global financial doom far worse than the one in 2008, economists and analysts now turned their focus to BRIC, to help prevent the world's financial crash.
American economist Joseph Stiglitz, who was chief economist at the WB from 1996 until 1999, said now might be the time for the BRIC nations to join forces to create a global fund similar to the lines that created the WB in 1944.
"The fact is that money is with the emerging markets," Mr Stiglitz had earlier said in the SME Times. "I am a very strong supporter of the emerging markets and creating a new international fund."
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