'Hegemonic corporations scared as BRICS plan bank to rival IMF'

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A new global bank is being born in South Africa - where the world's top emerging economies are meeting. The new financial powerhouse would be a direct challenger to the World Bank and the IMF - both dominated by the US. Brazil, Russia, India, China and South Africa also green-lighted a new, mammoth crisis fund - and hinted they would ditch the dollar. READ MORE: http://on.rt.com/401gfa

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