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00:00:00
facil russia india china and south africa five heavy weights of the wolves imagine economist converging on the remote russian c. knew very far on the agenda the launch of a development bank which flood myth in hopes will reduce western dominance of global finance , i'm kills not ski for oasis of the brick summit house in a city ones built as a fortress five on the terrible times may have changed in this part of the world however the focus today is still very much on power , the bricks account for a fifth of the global economic output and for forty percent of its population vladimir putin's focusses clearly shifted towards emerging economies and particularly towards asia %HESITATION since the west impose economic sanctions against russia armed over the ukrainian crisis they're old launch of the new development bank where the fifty billion dollars in capital all this is central to see that our efforts to reshape the western dominates its global financial system , the bricks units is very important to putin as russia having failed to builds a fruitful and efficient and successful relations with the west now rushes trying to forge an alliance with non west however despite all the rhetoric the relations of the brakes countries and the ties between them are not as strong as they like us to believe the new development banks of the launch here is already three years in the making that idea was proposed first three years ago and the progress has been slow it will be very interesting to gauge the dynamics between the five emerging economies leads us over the next two days here in the russian city of ufa