Shanghai may host Brics bank
There are two global organisations tasked with stabilising finances and funding major projects in the developing world: the World Bank and the International Monetary Fund.
But the countries most effected by their policies have often felt shut out of the decision-making process. That's because it's the large western economies along with Japan which hold the purse strings.
This week in Brazil, the so-called Brics nations - which includes the hosts, as well as Russia, India, China and South Africa - will try to set up an alternative, as the BBC's John Sudworth reports.
15 Jul 2014
- From the section Business