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Within only hours after his return from the sixth BRICS summit in Brazil, South African Finance Minister Nhlanhla Nene underscored the strategic significance of the BRICS New Development Bank, according to a report in the South African publication Engineering News.
The paradigm-shifting importance of this week's BRICS summit in Brazil and its joint announcement of the New Development Band (NDB) and the currency fund, is beginning to break out in East Asia. China, of course, has given the events and President Xi Jinping's further activities in South America extensive coverage, but outside of brief, matter-of-fact Japanese reports, the revolutionary nature of this weeks events was not brought forward until Friday.
There are several developments from China we have to report to you today:
The summit meeting of the five BRICS nations was held in Fortaleza, Brazil today, and issued the Fortaleza Declaration, which includes the historic announcement that Brazil, Russia, India, China, and South Africa have agreed to form the New Development Bank...
Battle lines are forming regarding the BRICS nations' decisions to operate two new $100 billion infrastructure investment and development banks over the next year...
Coming from the historic BRICS summit, Chinese President Xi Jinping arrived in Argentina Friday afternoon for a three-day visit, accompanied by a large delegation of 200 businessmen, to meet with President Cristina Fernández de Kirchner and sign 19 cooperation agreements in a variety of fields, including nuclear energy, infrastructure, communications, transportation, and agriculture.
In the last of the multiple historic summits which took place in Brasilia this week, heads of state and special representatives of the Community of Latin American and Caribbean States (CELAC), and Chinese President Xi Jinping, met on Thursday afternoon to discuss what every sane nation in the world yearns for: deepening their relations on the basis of "equality and mutual benefit, reciprocal coope
The brief public remarks following the separate bilateral meetings of the Chinese and Indian heads of state with Russian President Vladimir Putin on the sidelines of the BRICS Summit, demonstrate the frisky determination of these Eurasian nations to coordinate their development together...