Emerging powers call for reform of financial system

[AlphaCentauri]

Source: Business Daily

Leading emerging powers have called for swift reform of international financial institutions to give developing countries a greater voice, saying their group was vital to achieving a new world order.

The call from the increasingly influential BRIC countries for more say in global financial institutions such as the World Bank and the International Monetary Fund came ahead of this month’s G20 finance ministers’ and IMF meetings in Washington.

The leaders of Brazil, Russia, India and China said that voting share reforms at the World Bank to give developing countries more clout should be approved at the IMF meetings.

Setting a specific deadline, the group also said those reforms should be completed by a G20 summit in November.

“Brazil, Russia, India and China have a fundamental role in creating a new international order that is more just, representative and safe,” Brazilian President Luiz Inacio Lula da Silva said after holding talks with his counterparts.


Read more: http://www.businessdailyafrica.com/Emerging%20powers%20call%20for%20reform%20of%20financial%20system/-/539552/901382/-/u29q8a/-/

[loudsue]

1. Screw that!

Until China starts paying more attention to the idea of a democratically elected government, and backs away from their deplorable human rights record, they can go screw themselves.

[bossy22]

2. not goin to happen anytime soon

about 3 years ago in college i had the "pleasure" of attending a seminar (the course was a government policy course) with a guest speaker who happened to be a "politician" from the Peoples Republic of China. He talked about how freedom of ideas was essential but that you can't let them completely off the leash. He went on the criticize how the U.S. is a bit too open in that respect. He thought that open criticism of political leaders was detrimental to society and should not be tolerated.

This is the thought process of the people who run that country. They are complete statists and will not give up their hold on society without blood-shed. There will only be true human rights in china once "tianamin square part II" happens and succeeds.