That hurt of colonialism persists. The only reason, many headlines screamed, the establishment of BRIC bank was good because it would show the 'thumb' to the West - IMF and World Bank, which would essentially mean the USA and Europe. For us, the BRICS bank is an answer to IMF/World Bank, a way to show "them" that the emerging economies have arrived and they can fend for themselves. With little or no voting rights in IMF or World Bank, none of these nations - Brazil, China, India, Russia and South Africa have much say and these had to collectively bear the brunt of the US crisis,
