Along with the recent designation of Russia as “the state sponsor of terrorism” it seems the EU is effectively building another Iron Curtain separating it from both Moscow and Beijing.
Against the backdrop of waning integration impulses in the developed world, the largest developing economies are forging ahead with new initiatives directed at revitalizing regional integration an example of such integration is BRICS
Egypt has reached a deal with Shanghai-headquartered New Development Bank (NDB) to join the financial institution whose strategy the Arab country says is in line with its vision
The new BRICS reserve currency can act in concert with the stronger role performed by BRICS national currencies to take on a greater share of the total pie of currency transactions in the world economy