This week, twin historic meetings in Ufa, Russia. The BRICS and the Shanghai Cooperation Organization summits are being held. BRICS leaders established a new Development Bank and the SCO, which has never accepted a new member since it began, is looking at adding two countries as full members. What does all this mean for the developing countries as well as Europe and Asia?
The last time that Russia held the BRICS and Shanghai Cooperation Organization summits so close together was in 2009. The world was trying to climb out of a financial debt crisis. A lot has changed. Now that BRICS leaders have establish a new development bank, it could start financing its first projects before the end of the year. Meanwhile, the Shanghai Cooperation Organization may expand for the first time since its establishment in 2001. India and Pakistan could officially join the organization by 2016.
The Heat discussed the BRICS summit with these guests.
The Heat discussed the SCO (Shanghai Cooperation Organization) with these guests: