now for what in the world segment. world leaders came together in brazil this week to celebrate. no, this had nothing to do with the world cup. i m talking about the sixth annual bric summit. the leaders of all the bric s nations, putin, mode di, ree rousseff, shi and zuma gathered in brazil and on tuesday they sent a shot across the bow by announcing a $50 billion bank meant to rival the world bank and 1$100 billion crisis fund t replace the imf. i can understand why they made this move. you see these five nations, brazil, russia, india, china and south africa now account for more than 40% of the world s population and almost 20% of the world s total gdp, 17% of global
you know, we ve seen yan lobbying china for quite a long time to open up the markets. you want greater market access. did you feel you made much headway today. we have not come here to lobby. it s a bric summit and bric has emerged as a very important form. when you look at the countries which compromised this grouping, brazil, russia, china and south africa, this is the first time they had south africa. we discuss a range of issues, global economics, macroeconomics, financial institutions, fiscal management systems as well as developments in the world, in the region and in the world, but yes, there is this issue of trade balance but that is bilateral. we did not raise it in the bric summit but in the bilateral meetings. reporter: i just wanted to
different backgrounds. you have authoritarian regimes in cahoots with democracies, there s competing political systems and competing economic priorities, that the levels of development are so different in all these countries. the challenge is now these countries are going to be able to come up in the future with one unified voice. there is one thing i wanted to also make note here, pauline, that is in any case, this bric summit is likely to become more influential and in fact the next one is going to be held in india. pauline? all right. and eunice, we will come back to you a little bit later and we ll talk more about india. i know you ll have an interview with india s commerce minister. we ll see you in a couple minutes. thanks so much, eunice. now we go over to nina where we re going to talk about one of the bric nations. nina. we are indeed.
in international affairs. china and russia threw their support behind india, brazil and south africa in raising their profile at the united nations. the group also issued support for russia s early earntry into the world trade organization later on this year. but that s not all. the brics nations also issued a 2,500 world declaration. we want to give you a flavor of what that said. we put that declaration into a world cloud. you see some of the biggest words here. the bigger the word, that means the more times it showed up in this declaration. the world we was by far the most used word. we saw that 58 times. and cooperation here was a big theme as well as international. and because it was a bric summit, you see the word brics in large letters. that was mentioned several times. this is not a scientific survey of sorts. it is a good snapshot, however, of the main themes coming out of the brics nation s summit.
a full blown trade war and that has led the republican party trumps party to be worried because there was a lack of enthusiasm among a constituency that normally is the bases of the republican party in rural areas and so they put pressure on trump so in the way of course the european union it s good to stand united but also you don t cope was lucky that this was a good timing and trump was ready to declare victory and move on our correspondent past and find a nominee in washington thank you constance well the concept of free trade was fan fed at the bric summit in south africa need as it breaks nations signed a declaration stating that the signatories want quote an open and inclusive multilateral trading system as envisioned by the world trade organization but critics say political and economic self interest play. the leaders of the five brics emerging economies immortalized one hundred prints in