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Geopolitics

Can You Build A Bank Of BRICS? Big New Ambitions For World's Emerging Powers

A decade after first being lumped together, the world's leading emerging economies show all signs of claiming a growing slice of influence. Yet at their latest summit, plans emerged to pool their resources in a bank to rival the World Bank. It&am

Indian Prime Minister Manmohan Singh and Brazilian President Dilma Rousseff last year at a BRICS summit.
Indian Prime Minister Manmohan Singh and Brazilian President Dilma Rousseff last year at a BRICS summit.
Alain Faujas

In 2001, Jim O'Neill, then-economist at investment bank Goldman Sachs, coined the acronym BRIC to refer to the world's four biggest and fastest-growing emerging markets, hot on the heels of the West. The term was an overnight success. By grouping together with a handy moniker the nations of Brazil, Russia, India and China -- and adding South Africa in 2011 to make it BRICS with a final "s' -- O'Neill highlighted exactly which up-and-coming countries the global media should be focusing on.

It is impossible not to take this alliance seriously: it comprises 45% of the world's population; it owns one-fourth of the planet's natural resources; and it generates about two-thirds of global growth. One cannot fail to be impressed by these five world champions of development who have been organizing group summits since 2009, the last of which took place in New Delhi last week.

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Coronavirus

The Main COVID Risk Now: Long COVID

Death rates are down, masks are off, but many who have been infected by COVID have still not recovered. Long COVID continues to be hard to diagnose and treatments are still in the developmental stage.

Long COVID feels like a never-ending nightmare for those who suffer from it.

Jessica Berthereau

PARIS — The medical examination took longer than expected in the Parc de Castelnau-le-Lez clinic, near the southern French city of Montpellier. Jocelyne had come to see a specialist for long COVID-19, and exits the appointment slowly with help from her son. The meeting lasted more than an hour, twice as long as planned.

“I’m a fighter, you know, I’ve done a lot of things in my life, I’ve been around the world twice… I’m not saying this to brag, but to tell you my background," says the 40-year-old. "These days, I’m exhausted, I’m not hungry, I no longer drive, I can’t work anymore, I have restless legs syndrome.” She pauses before adding sadly: “I can’t read anymore either.”

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