The BRICS Summit 2013: key asks and priorities

Historically, international financial institutions developed as a result of the dominance of a few advanced economies, after the Second World War. Until quite recently, the status quo remained largely unchallenged. With the world becoming more interdependent, the dominance and unipolarity of the West is being challenged by the rise of the ‘rest’. The three themes discussed in this paper, i.e. the BRICS Development Bank, the BRICS’ Development Cooperation with Africa and Illicit Financial Flows reflect the interaction of emerging powers with the already established powers.