doesn't become the next egypt or tunisia the world's largest developing economies on the rise brazil russia india china now south africa the new kid on the block they're not of bricks and they're getting ready for their meeting to talk about how to better leverage their growing economic and political influence in the world r.t. the real english show how the story. while the old world order may be pumping money down the drain on warring in libya the new world order is fighting battles that can be won on the world's money and trade market brazil russia india china and this year's new kid on the block south africa have gathered on the chinese island of hainan talk business and it's not just about economy it's about politics as well though the brics countries do put a heavy emphasis on economic issues broader political questions such as the situation in northern africa and the middle east are also going to be hot topics for discussions to recount to stare gold. or un resolution was very wise in terms of we're not going to get involved in this mess in fact when the

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. here wednesday night. this is the r t news channel on our top story with the russian presidential election less than a year away public interest in who will be running for the top seat is higher than ever the country's two most powerful politicians have spoken about the issue explaining their positions sarah ferguson is called the details. present a better than prime minister putin had touched on the twenty twelve elections prime minister putin when he attended a medical workers foreign here in moscow nothing to concrete there was nothing really given away but he did say that nothing's being ruled out. i repeated the president made good even though i don't rule out the possibility that each one of us will run for the presidency our decision will be no taking into account the economic social and political issues in the run up to the election this decision will certainly have to be made but we have almost a whole year

because that's what we teach at a higher school of economics but because in russia unlike in brazil unlike china unlike india in russia you could take your money out of the country in those other countries they have capital controls that were the only two it's illegal in russia since two thousand and six june two thousand and six you have complete convert ability of the ruble and there's a good historical reason for that because. you had a terrible social experiment for seventy four years under also the communism and in this country and so once you get rid of controls any hint of reimposing any control like the brazilians or the commies are doing that right so you can't do it you don't have you're caught between a rock and a hard place here because you have to keep the economy completely open but there is no there's no emerging market economy in the world that is as open as the russian economy so it means can we make it use it as an advantage not worth over and over liber are over liberalism yes yes given the fact that you for historical reasons you don't have much choice yet you could turn it to an advantag

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. as the u.s. defense budget escapes on top of a series of sweeping cuts its social programs the better profits. and i guess you were paul's believe he's now considering selling out of that highly lucrative chance a venture this is also his business says about twenty minutes time it's very. very warm welcome to you this is live from moscow i'm elements of the president's. case has been sold prospects arrested by and he's following monday's attack have admitted responsibility let's cross live now to all of these catherine like about you all but for all the latest on this i've just been told that we've actually lost our force in minsk that in that virtual bow we will. become the nice time about you know the details of that deadly metro blast in minsk. this is from when. i started to scream for help i was bleeding heavily a man and a woman karen to be outside in the fresh air the top of my mat and didn't leave me until th

world's largest emerging economies is gathering in china at the meeting of the so-called brics brazil russia india china and south africa is seen as an attempt to develop a unified approach to global economic challenges and there have been some doubts on whether russia should be in the club given its different level of development but jacob morgan stanley believes russia is a good fit rusher. and industrial or is a couple of generations ago and that's sort of pork for me other brics you tend to have your population growing population and much lower incomes for capital but russia is the and it's got huge resources and it's got great potential so in the sense of being an economy that could grow for state and has great potential but needs to undertake fundamental structural reforms to achieve the kind of prosperity you see in the developed world i think russia has a lot in common with other brics. let's look at how the markets are performing low personal computer sales worldwide and an overnight rise in the yen a sending job any stocks downward then result nuclear crisis is also adding to the negativ

brazil russia india china and south africa have put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. on pm wednesday night here in moscow welcome this is our team my name is kevin owen and first with the russian presidential election less than a year away public interest in who will be running for the top seats higher than ever the country's two most powerful politicians have spoken about the issue explaining their positions so if a scope of itself. president prime minister putin had touched on the twenty. feet. when he had. nothing to say there was nothing really given away but he did say nothing's being ruled out. i repeat should the president medvedev and i don't rule out the possibility that each one of the presidency our decision will be taking into account the economic social and political issues in the run up to the election this decision will certainly have to be made but we have almost a whole year before the election this election related doesn't help us carry out our work. just. maybe. we have. to. be spe

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. very warm welcome to you this is the line from moscow and i said that the picture of the twenty twelve presidential election here in russia is becoming more clear voters could see the country's two most powerful politicians running for the top seat that's cause live to sarah furthermore all this while sarah what do you know about the shape of the upcoming election. not right that it didn't it. made reference to one of the. media something like that although. not getting any they really will be rolling out the possibility of the writing we did. a study should us. i repeat both president medvedev and i don't rule out the possibility that both of us will run for the presidency our decision will be made taking into account the economic social and political issues in the run up to the election his decision will certainly have to be made but we have almost a whole year before the elections and this election related force d

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world's economy your need for the details in a few moments. coming here was a big spends of education many americans are paying all the small social costs all or nothing on the cancer good refuses to budge a bit can't see that that's a. very warm welcome gee this is also the life from. a fatal a terror attack on valerie's has been sold less than forty eight hours off and happens according to president bush and co she suspects detained in connection with the monday metro bombing have confessed to the explosion that in a gradual behind. the april eleventh terrorist attacks has been solved the president of belarus us that they've got people behind the deadly blast at nine pm on tuesday in a sting operation police arrested two suspects both of belorussian origin and be both a bit responsibility for this atrocity after long hours of interrogation i was in the us to get a say they also confessed they were leading to two other similar terrorist attacks in the country's recent hi

brazil russia india china and south africa are pretty much a right as they strive to take an even greater slice of the world's economy so any further details in the people. is eight pm wednesday night here in moscow welcome if you just joined us this is the r.t. news channel my name is kevin owen and first with the russian presidential election less than a year away now public interest in who will be running for the top seat is harder than ever become true to most powerful politicians have spoken on the issue explaining their positions as cross to sara first got the details even to you what more do we know from the president and prime minister in terms of mixed year's election. present a bit of prime minister putin has touched on the twenty twelve elections and spoke to the speculation really a prime minister putin like when he attended a medical workers for and. nothing to say there was nothing really given away but he did say other things being. i repeat president. the presidency decision will be made taking into account the economic social and political issues in the run up to the elec

brazil russia india china and south africa but a united front as they strive to take an even greater size of the world economy join me for the details in a few moments. funding the wars and the expense of education many americans are often all dismal social costs are now small the pentagon refuses to budget for the gigantic defense budget . little. can see this is live from moscow now the fatal terror attack since been sold less than forty eight hours all but according to president bush and co two suspects detained in connection with the monday metro bombing confessed to the explosion however the reasons a motive behind the attack remain all clear the blast killed twelve and left almost two hundred injured. the bomb went off as crowds were coming out of trains during the evening rush hour and the capital's main subway help. bring the groucho of a met some of the victims recovering and. the shoes from when. i started to scream help i was bleeding heavily i'm an injured woman can't be outside into the fresh air i told my nag and didn't leave me until the ambulance arrived that's mine a

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. and as the u.s. defense budget goes on touched off another series of sweeping cuts its social programs are losing out in favor of the pentagon. on moving commodity prices have done a lot to support russia's not its in the first quarter of the year to more china's in about twenty minutes time. that's one pm here in the russian capital you're watching r t welcome to the program two suspects have been arrested by police and their roots following that monday's metro bomb attack wednesday has been declared a day of mourning for the twelve people killed in that trusting. in that which over has been meeting some of the survivors. i started to scream for help i was bleeding heavily a man and woman can't be outside into the fresh air they tied up my leg and didn't leave me until the ambulance arrived that's man and woman might be unaware they saved not only irina but the life of your unborn child as well looking little xiv it

political talks russia brazil india china and south africa all known as brics nations are striving for a bigger say in the global financial architecture but they're also said to go beyond economics and respond to pressing international issues to tessa riseley reports. what these five countries really want to do is to work come together to push for a new international financial model that will benefit developing countries not just a few quick numbers to show you how why this region this grouping of countries is becoming really an important part of the world is the world's dynamics first of all they do pass include two of the most populated countries in the world of course china and india and in terms of trade their volume has reached two hundred thirty billion in two thousand and ten that's about fifteen percent of world trade eighty percent of the world's g.d.p. now these numbers may not be at their peak at the moment they do admit that there's still a lot of room for improvement in this regard but the number the population itself every potential that they hold is clearly not to be ign

to economic inequalities and interference in bolivia these are what dominate the meeting of brazil russia india china and south africa all the details from the chinese island in a few moments. facebook twitter and panic buttons the u.s. uses technology to spread democracy in the arab world but are their intentions really so innocent. pakistan demands the u.s. cuts addictively in the country as relations soured by drone attacks and civilian deaths can't their lowest level since nine eleven. is a day on the russian capital you're watching r t was nearing a joshua welcome to the program the world's emerging economic giants are pushing for a bigger cloud and global financial architecture and policy the leaders of russia brazil india china and south africa or the so-called brics have been flexing their muscles in issues ranging from a response to canonical balances and the crisis in libya well it's now cross slide over spawn of chess or cilia who is in a chinese resort to find out for us we're gathering is taking place already. it seems like that we are seeing the emergence of a new force in global

brazil russia india china and south africa put a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. the. funding rules will be expensive education many americans are all three dollars is more social cuts are announced all the pentagon refuses to volunteer for the gigantic defense also it's. never our business says the share swap between b.p. and roll c.f. is close to hitting the rocks last may have touched in from the deadline for the deal is not that extended make an announcement concerning its state's authorized it would have warned out of business school it's. a very warm welcome to you this is live from moscow with me on this have a. terror attack on ballerinas has been sold less than forty eight hours after it happened are going to present a will to suspect detained in connection with the monday metro bombing have confessed to the explosion. the latest. big rollout on tyra's that site has been solved the president's. got people behind but at last at nine pm on tuesday in a sting operation police arrested two s

brazil russia india china and south africa but a united front as they strive to take an even greater slice of the world economy join me for the details in a few moments. and as the u.s. defense budget escapes and start stop the analysis series of sweeping cards and social programs that the drugs. are welcome and to you this is asking why from moscow with me eyes have it first this hour two suspects have been arrested by police in bellary slowing monday's metro bomb attack on a day of mornings being observed to minsk the twelve people killed in the atrocity in the new graduate joins us live now a look i mean are two days off the earth or she's made the arrest what more do we know. well we know the belorussian police have arrested two suspects talk of monday's deadly blast the busiest man shows station here in the capital and the country's debt as you prosecutor a channel told our team they're now being questioned and it's being fire truck and find out whether the. believe it's two. thousand and five and in the city of means during a crowded concepts that was in two thousand and eight

left behind in the global economy this week the name the leaders of the bric nations that's brazil russia india and china as well as south africa are all meeting in china to find common ground in creating a new global economy one not so dependent on the united states and the us britain nations are some of the fastest growing economy economy in the world representing forty five percent of all the current economic growth on the planet and nearly one fifth of the entire global trade market these nations also represent a lot of people forty percent of the world's population in fact their place in the current and most importantly future world economy can't be denied and for too long brazil russia india china now south africa have been so often screwed or ignored by u.s. based organizations like the i.m.f. and the world bank and now they seem more than willing to go it alone on top of that after the record thirty years of reaganomics they don't think they can depend on the united states' economy to keep the world economy rolling along or they see when they look at the united states today they see a n

done on india and brazil as well as in china in the you know haitians systematically indicate to me that. if they do not make too many policy mistakes both brazil and china and perhaps even russia within fifteen years sexually can have a very diversified and flourishing economy and add to that democratic strengths brazil and india and china indeed can learn something from these two countries as well ok fredricka franco to you i mean one of the things it's obvious to everyone is that economic power is translated into political power and a lot of these countries the emerging markets they see that with these institutions are run by western countries the world bank the i.m.f. well some people even go as far as say that nato is being used as a replacement for the security council the united nations being the world's policemen when he gets down to his institutions in a brick bricks is very young when you think it could turn into some kind of political institution as an alternative because as the ritually get the more resources they will have. no i don't think so i think i mean i think one of the thing which is going to characterize the rise of of emerging markets is that to go into c

india and brazil are afraid o. is competition from china it's competition from china that's what they are afraid of and as long as the mindset of of of of brazil russia india and others are going to be of that kind it's going to be tremendously difficult to forge any sort of strong alliances. nato or the west that is in line since the lies that we saw grew during the cold war ok ted what do you think about that because the west can still get divide and conquer these bricks this brick organization mindset and they're still competing among themselves it's a good point yes it's true that competition among themselves absolutely true like the brazilian booster elise there are three hundred nine following deal most of this week the air try to create some sort of cash some deals good to sell brazilian products in china but china basically in a factor of the world they don't need. so by manufacturer bribes from anybody apart from that technology which is the case of embraer like executive jets what and russia basically it's still monoculture its oil and gas and weapons industry as well so the diversification of the brazilian the indian economy is going to ta

brazil russia india china and south africa say it's time for leadership of the i.m.f. and world bank to reflect changes of the global economy a transformation from a cloud based to all inclusive. and they be a nato has launched new strikes on pro-government positions while the coalition leaders have pledged to push the campaign until colonel gadhafi steps down the british m.p. barry gardner believes that your national forces have used to humanitarian cause to get their hands on libya but it has all been about regime change from the very beginning. i don't believe that what is now going on is justified indeed at the beginning it was made very clear by david cameron and others this could not be about regime change this was about humanitarian protection well that is clearly no longer the case and this is clear you no longer the case then britain should not be involved it's as simple as that the fact that the rebels the rebel forces are are part of a civil war that is not something that britain should be coming in there and then alarming other parts of libya in the western

brazil russia india china and south africa say it's time for leadership of the i.m.f. and world bank to work but changes of the global economy. have a look at the grave consequences of the western monopoly over financial institutions and. i can't even explain what i felt inside when i met him he gave me goosebumps when i saw him as our russian bombshell describes how she fell under the charms of now but he last on the tie in prime minister more details in just a few minutes. in libya nato has launched new strikes down pro-government positions while the coalition leaders have pledged to push the campaign until colonel gadhafi steps down the british m.p. very gardiner believes the international forces have used a humanitarian cause to get their hands on libya but it has all been about regime change from the very beginning. i don't believe that what is now going on is justified indeed at the beginning it was made very clear by david cameron and others that this could not be about regime change this was about humanitarian protection well that is clearly no longer the case

brazil russia india china and south africa say it's time for leadership of the i.m.f. and world bank to work flecked changes of the global economy the transformation from a club based to all inclusive. with no i can't even explain what i felt inside when a match and he gave me goosebumps when i saw him. that's how a russian bombshell describes how the truth girth of arms of our body was found the time from mr thornton tells him just as you're not. in the b.n. nato has launched new strikes on pro-government positions while the coalition leaders have pledged to push the campaign until colonel gadhafi steps down the british m.p. barry gardner believes international forces have used their humanitarian cause to get their hands on libya but it has all been about regime change from the very beginning. i don't believe that what is now going on is justified indeed at the beginning it was made very clear by david cameron and others this could not be about regime change this was about humanitarian protection and all that is clearly no longer the case and this that is clear you no

minister gordon brown at lunch he addressed the crowd talking about the role of bric nations brazil russia india and china their growth as ours in the globe and how this needs to be addressed and needs to be global governing bodies need to adjust to this if the west in europe and the united states are not going to decline he said does the rise of these nations and mean that europe in the united states will decline said will that all depends on how they adjust if they're able to change are three able to invest more in education in science but he did say that this is going to take reform and so one has pointed out that the emerging economies the bric nations are kind of the ones i point at a conference where many people are talking about what needs to change and here and so the western banking reforms monetary tools and the u.s. dollar is the reserve currency some of the ideas of some of the gas that we've heard from involve more of a c. role in capital markets the financial crisis being there evidence that that didn't work there's a lot of concern about that too big to fail still exists that bank

fast prices continue to rise as well as those of you in commodities and this week the brics brazil russia india china and south africa and china the g. twenty gathered here in washington d.c. today and over the weekend i.m.f. and world bank will have their spring meetings so no matter how large the gathering or who's involved there's one question on everyone's mind what do we do to go forward to balance the global economy and to insulate it from another worldwide crash like we experienced more than two years ago but are the institutions like the i.m.f. and the world bank the western powers who control that ready to let the rest of the world try man joining me to discuss this is mark wise brokaw director of the center for economic and policy research mark thank you so much for being here tonight. of course we can't just throw all of these together because there are so many like i said meetings going on and so many institutions but our institutions like the i.m.f. and the world bank are they really ready to accept that perhaps there is a new economic order in the world that perhaps they have to l

new world order is fighting battles that can be won on the world's money and trade markets brazil russia india china and this year's new kid on the block south africa have gathered on the chinese island of hainan to talk business and it's not just about economy it's about politics as well though the brics countries do put a heavy emphasis on economic issues broader political questions such as the situation in northern africa and the middle east are also going to be a hot topic for discussion the recount to stare all. or un resolution amounts on to was very wise in terms of we're not going to get involved in this mess in fact when the french and the british were drafting the resolution there were serious objections from the floor talk with countries brazil russia and china traditionally it was always the u.s. and major western nations like france and germany playing the leading roles in politics and economy but if you take into consideration the ongoing financial crisis and the fact that breaks countries comprise more than half of the world's population and probably almost a quarter of the worl

brazil russia india china and south africa say it's time for leadership of the i.m.f. and world bank to reflect changes of the global economy we look at the grave consequences of the west a monopoly but major financial institutions. are now to search out some other stories from around the world this hour a u.n. tribunal has convicted and go to vienna itself croatian general to twenty four years in jail thirty nine counts of war crimes against serbs and one hundred ninety five people another general was sentenced to seventeen years from jail the two men were accused of masterminding the operation that saw some two hundred thousand subs forced out of croatia hundreds of civilians who refused to leave were brutally executed in croatia where the generals are viewed as heroes a large crowd who got to see him in the capital and it denounced the verdict. in indonesia at least twenty eight people have been rushed to hospital after a suicide bomb attack on a mosque just east of the capital of jakarta a number of government workers on the regional police chief were among the inj

economies on come together to have that say on the most critical global it seems the heads of russia brazil india china and south africa i gatherings also for raise the size of the world's trade. and the u.s. prepares to spend around seven hundred billion dollars on its military regime this year more than any other country in the output with budget cuts according to friends its social programs making the shock. of the attack on the bow the russian rapture was a painful reminder of the terror that precedes the russian capital a year ago then russia's most wanted man chechen warlord claimed responsibility as a father is behind the minsk attack raid on their own by the not saudis have funneled the russian president representative on combat terrorism told all to shoot should work together to solve such horrific crimes. i think some of the discipline of thank you for being with us today once again rumors about the death of russia's most wanted have been flying around do you believe that duncan marvel is dead unfortunately we don't presently had any official confirmation as i know medical examinations

world's largest emerging economies is gathering in china at the meeting of the so-called breaks brazil russia india china and south africa is seen as an attempt to develop a unified approach to global economic challenges and there have been some towns where the russia should be in the club given its different level of development but jacob now from morgan stanley believes russia is a good fit. and industrial or is a couple of generations ago and that sets it apart from the other brics who tend to have a young population growing population and a much lower incomes recap to put russia is big and it's got huge resources and it's got great potential so in the sense of being an economy that could grow for state has great potential but means to undertake fundamental structural reforms to achieve the kind of prosperity you see in the developed world i think russia has a lot in common with the other groups. let's look at how the markets are performing after spending most of the day on the water they need a gain momentum by the end of the trading day among the leaders that tech stocks with top rising two pe

push for reforming the international monetary institutions at a pivotal week the leaders of russia brazil india china and south africa all the so-called brics have also decried the use of force in war torn libya it's all part of their efforts to gain a greater clout in a global affairs. a city now is in the chinese resort. the government has been taking turns. so that the five countries have reached a common ground and strive for change or they discussed ways of supporting an initiative to replace the u.s. dollar as the world's main reserve currency also calling for. reform as well what more can you tell us on the search. for your rights and human rooting for those points if they have come up with in essence what they really want is greater influence both in the sphere of economics as well as politics where economics is concerned they really do want to see major changes in the financial model that is existing today in order to benefit the developing countries which if you just look at the numbers is a significant portion of the world's economic growth now political leave they also see that a co

he's known for coining the term bricks comprising brazil, russia, india and china. there are many differences between the country the acronym has now become widely used to describe the shift in global economic power. they have accounted for half of global growth since the financial crises in 2007. we'll hear more about that from jim o'neill, i'm pleased to have him here at this table for the first time. welcome. >> thank you very much. >> charlie: tell me how you decided and came up with this idea because i want to leap forward from 2001 to 2011. >> i was quite lucky. from 95 to 2001, i was the cohead of the economics department at goldman sachs. goldman through its credit always put enormous a lot of resource and efforts into its economics research. so it was a very privileged job. my cohead in september 2001 left to become chairman of the bbc. so i was left to do this thing on my own. so i was searching for what was going to be my sort of guiding influence to have the responsibility i felt slightly intimidated. i just kind of hung out with the traders and here was

to watch their backs as the world's fastest growing economies gain ground the heads of russia brazil india china and south africa are all lead gathering to discuss the new international financial model and the libyan crisis. and the better and better ways to close the suspects linked to the terrorist attack on the capital's metro system have confessed twelve people were killed in the blast and over two hundred were injured today has been declared an official day of. the explosion in the brother wish of metro was a painful reminder of the terror attack in the russian capital a year ago on the telly so far north face a russian presidential representative on combating terrorism spoke to r.t. about the need to share experience gained through such tragedies. i think another discipline of thank you for being with us today once again rumors about the death of russia's most wanted and flying around do you believe that duncombe are of his dead unfortunately we don't presently have any official confirmation as i know the required medical examinations and other procedures are finalized yet however ac

bringing you live news conference from the brits summit taking place in china the leaders of brazil russia india china and south africa addressing the forum highlighted the importance of cooperation and also outlined steps towards further cooperation in areas of concern you can follow this in our website r.t. the comments rodney of course will bring you more updates on the summit taking place in china. well some take a look at our top stories we're following for you here on r.t. and of course of bricks ahmed brics countries call for peaceful solution of libyan crisis through dialogue as leaders are giving a press conference at the summit in china the world's fastest growing economies have come together in a bid to have their say in the global issues. that you ask is using the latest technological achievements just spread democracy in the arab world the trainings for the anti-government activists or hope to give a ripple effect but some say america's intentions are not bad in a sense. and relations between the u.s. and pakistan hit their lowest levels since nine eleven slam abad demands washingto

the us to watch their backs as the world's tallest script economy again around the heads of russia brazil india china and south africa are a gathering to discuss a new international financial model and the libyan crisis. funding will last at the expense of education many americans are often elements of more social concert

is a multi-polar world that brings developing nations into the conversation the bric nations brazil russia india china nations that now are fueling growth and have booming economies around the world vision's of the developed nations such as the united states that were growth is really stagnated and where debts have been run up the at this is still the reserve currency this is still a large force as far as monetary policy so the idea of my being heard here is that there really needs to be a different system and that a gauge is and reflects the developing nations and the nations that are fueling a lot of the growth in the world that aren't as reflected in old policies that are considered by some of these thinkers according to them outdated. for more on the soros conference in britain words i could have told website on t.v. of call from the control of its news on developments on team usa section. found out what some experts believe america is facing a revenue of budget crisis i think is behind us corporations are printing tax loopholes overseas to screw the way to profits that i don't comb. today v

the us to watch their backs as the world's tallest script economy again around the heads of russia brazil india china and south africa are a gathering to discuss a new international financial model and the libyan crisis. funding will last at the expense of education many americans are often elements of more social concert announce a lot of heads good refuses to be gigantic defense budget around seven hundred billion dollars is spent each year on the countries that tree. and valerie's declares the suspect snigs of the terrorists down on the council's metro system have confessed twelve people were killed in the last maybe two hundred twenty injured today has been declared an official day of reckoning. now the explosion in the metro was a painful reminder of the terror attack in the russian capital a year ago and authorities of the russian presidential representative on combating terrorism spoke to r.c. about the need to share experience gained through such tragedies.

four countries for the moment it was india russia china and brazil and goldman the thousand mentioned the case for. this are developing fast if they can only desert economies of string and i'm sure and as time goes on they're becoming major players in the world yes they for a very cultist see such kind of group they didn't create by the name this country to get to be named these five groups there's a new number for this for there's a new number of new members now. south africa yes we're seeing these these countries here gaining ground we're seeing perhaps an economic focus shifting from the west to the east i think so because you can imagine the in these group there are at least two most developing countries and they are they are china and india they're belittling they're very fast and their successes are fantastic and all but why you don't think they will ok so you as you say we've got two major economies here to get when you continue to grow what's russia's interesting part of the pritzker. i think with russia interest there are several aspects of that russian interest and what russ

of this is a polar world it brings developing nations into the conversation the bric nations brazil russia india china nations that now are fueling growth and have booming economies around the world in opposition to the developed nations such as the united states that growth is really stagnated and where debts have been run up yet this is still the reserve currency this is still a large force as far as monetary policy so the idea of not being heard here is that there really needs to be a different system and that engages and reflects the developing nations and the nations that are fueling a lot of the growth in the world that aren't as reflected in old policies that are considered by some of these thinkers according to them outdated. and more on the conference and bretton woods on our website. and you can also have a look at the latest from our washington bureau there you'll find out why such words believe america is facing a revenue crisis as u.s. corporations are finding tax loopholes overseas to squirrel away their profits. also online angry computer hackers take on the playstation network sa