Analysts Welcome BRICS Bank Competition

August 06, 2014 04:49 PM
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When news broke last month that the so-called "BRICS" nations - Brazil, Russia, India, China and South Africa - had agreed to form their own development bank, some analysts feared the new body would be little more than a political bloc. But others are welcoming the plan, saying the world needs help when it comes to development finance. VOA'S Laurel Bowman has that story.