The following is an excerpt. To view the full article please visit the link below.

TORONTO, July 28 (Xinhua) -- A Canadian expert hailed the BRICS nations' recent decision to establish a development bank, saying the bank could potentially lead to some significant changes, including a shift toward a multipolar monetary system.

Domenico Lombardi, an expert on global economy from a Canadian think tank, told Xinhua in a recent interview that while the economic significance of the New Development Bank (NDB) was yet to be seen, many were debating the possible impact.

For the BRICS economies — Brazil, Russia, India, China and South Africa — the new bank has been a long time coming, said Lombardi, director...

* * *
The opinions expressed in this article/multimedia are those of the author(s) and do not necessarily reflect the views of CIGI or its Board of Directors.