"Broken BRICS" argument lacks vision, substance

The BRICS countries have already set up cooperation mechanisms such as a business council and a think-tank council, and is soon announcing the establishment of a development bank and a contingent reserve arrangement, which are meant to ensure short-and-longer term financial assistance amongst themselves. Such substantial steps are not overlooked by the West. But the West is perhaps reluctant to admit the growing political unity of developing countries, which might become a counterweight to established powers in the West.

XINHUANET