I'm thinking that "More than just a payment system" is what most people seem to be missing. BRICS can develop into a parallel set of institutions and protocols to the World Bank, the IMF, the WTO, BIS, etc., but by no means is developing parallel institutions and protocols quick and simple.
I doubt the existing institutions are willing to do that for the existing set of institutions and protocols, but I don 't see any reason why a parallel BRICS system can't be built without THOSE protocols.
I'm thinking that "More than just a payment system" is what most people seem to be missing. BRICS can develop into a parallel set of institutions and protocols to the World Bank, the IMF, the WTO, BIS, etc., but by no means is developing parallel institutions and protocols quick and simple.
Monetarism and mercantilism have to be jettisoned before building those institutions.
I doubt the existing institutions are willing to do that for the existing set of institutions and protocols, but I don 't see any reason why a parallel BRICS system can't be built without THOSE protocols.
Excellent
A Masterpiece Sir!