国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Chinadaily.com.cn
 
Go Adv Search
Man who coined 'BRIC' supports bank proposal

Man who coined 'BRIC' supports bank proposal

Updated: 2012-03-29 22:06

By Cecily Liu (chinadaily.com.cn)

  Comments() Print Mail Large Medium  Small

Jim O'Neill, chairman of Goldman Sachs Asset Management who coined the acronym "BRIC" - for the economies of Brazil, Russia, India and China - ten years ago, said that he supports India's proposal for the BRICS countries to create a joint development bank.

Discussions on the BRICS Bank, a multilateral bank that would be exclusively funded by developing nations and finance projects in those countries, was expected to top the agenda at the two-day BRICS Summit which opened in Delhi, India on Wednesday.

"Obviously 'the BRICS bank' would be helpful for further supporting and promoting trade between emerging countries," O'Neill told China Daily in an exclusive interview.

"And as we go through this decade, trade between the BRICS and emerging countries are probably going to be the biggest source of global GDP growth," he added.

O'Neill's remarks came ahead of the summit where leaders from Brazil, Russia, India, China and South Africa discussed ways to increase cooperation, especially seeking a bigger role in the global financial system to match their rising economic heft.

He coined the term BRIC in 2001, and still prefers to use this old acronym even though South Africa has joined the summit last year and it is now known as the BRICS.

The proposal for a BRICS bank builds on a pledge leaders from the five nations made at their last meeting in April 2011 in China, when they promised in a statement to "strengthen financial cooperation among the BRICS Development Banks."

Discussions intensified last month when India circulated a concept note on the BRICS Bank with other members of the bloc at the Group of 20 meeting in Mexico City.

O'Neill said that such a bank could help China further liberalize and grow the use of its currency, the renminbi.

"Growing trade between China and other merging countries means it definitely makes sense for China to extend renminbi loans to other major emerging countries," he said.

In the past few years, Chinese authorities have begun to gradually internationalize the renminbi before fully liberalizing China's capital account.

Much of China's banking system, however, remains regulated, and lending is largely controlled.

O'Neill said that he is disappointed by previous BRICS summits' lack of substantial achievements, but hopes that progress on the BRICS Bank will reinstall confidence.

"The BRICS political group hasn't achieved anything yet, so this BRICS Bank is important as a symbol of whether they can agree on substantive purposes," O'Neill said.

O'Neill said that he is glad that the BRIC leaders meet annually, but believes that different political and financial structures of the BRIC countries make any meaningful agreements difficult.

He cited as an example the BRIC countries' inability to support a single candidate as contender for the World Bank presidency.

"The BRIC countries should try and have a joint view on who the head of World Bank should be. And if they can't agree on simple things like that, then it will be very difficult for others to take them seriously," said O'Neill.

Ngozi Okonjo-Iweala, the Nigerian finance minister, and José Antonio Ocampo, the former finance minister of Colombia, both joined the race for the World Bank presidency nomination on Friday March 23.

O'Neill added that substantial scope for cooperation between the BRIC countries does exist, especially in areas like energy efficiency and global financial reforms.

He also remains optimistic about the BRIC countries' future growth: "This decade the BRIC countries will continue to be the main source of global GDP growth."

曲水县| 徐闻县| 八宿县| 陈巴尔虎旗| 延安市| 措勤县| 石渠县| 博白县| 瑞金市| 东至县| 保德县| 酉阳| 丰台区| 德钦县| 四川省| 鱼台县| 余江县| 星座| 黄陵县| 洞口县| 如皋市| 西藏| 合山市| 兴化市| 宜君县| 永嘉县| 大化| 石门县| 清水河县| 墨竹工卡县| 红安县| 本溪市| 湛江市| 内丘县| 潍坊市| 保亭| 夏津县| 温泉县| 广德县| 罗甸县| 安新县|