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Posted on April 14, 2011
BY ALEXANDER KOLYANDR AND OWEN FLETCHER
SANYA, ChinaLeaders from Brazil, Russia, India, China and South Africa issued a new call for reform of the dollar-dominated international monetary system and for greater supervision of commodity markets and capital flows, as the so-called Brics nations seek to boost their influence in debates about the global economy.
A joint statement issued by the heads of the five nations Thursday at a meeting in this resort town on southern China’s Hainan island underscored their concerns about factors that are fueling inflation and currency volatility in many emerging economies, as well as their continued desire to shift away from reliance on …