The BRICS Members State That the New Development Bank (NDB)

question 68

True/False

The BRICS members state that the New Development Bank (NDB) is not intended to challenge or replace the IMF and the World Bank, though some observers see the NDB and the Contingent Reserve Arrangement as institutions that challenge these Western-dominated institutions.

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Definitions:

Affiliation

The connection or association between individuals or organizations based on shared interests or goals.

Socialized Power

A form of power that is utilized for the benefit of a group or society as a whole, rather than for individual gain.

Personalized Power

Power wielded for personal gain or satisfaction rather than for the benefit of others or the organization, characterized by self-centered behavior and manipulation.

E-to-P Expectancy

The belief that exerting a certain amount of effort will lead to a specific level of performance.