BRIC countries set up a development bank against western financial power      (Ruby)

      
The leaders of BRICS countries launched to set up a development bank with a scale of 100 billion dollars which is regard as a finicial reserve pool.This is the first time that five countries take deficite measure to reshape the international financial system which is in the charge of westorn country for many years.

The leaders of the five countries annouced at a summit that the goal of the development bank is to financing the developing countries in infrastructure projects.The headquarters will be located in Shanghai.And it will be presided over by India for five yeats before the bank's operations,after successively presided over by Brazil and Russia.

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