After five years of meetings, the BRICS emerging-market nations made some headway in their push for more sway in the global financial system, agreeing to set up a $100-billion currency crisis fund and a new development bank.
European countries adopting a “Jekyll and Hyde” strategy toward China have a greater chance of winning more exports to the world’s fastest-growing major economy, according to University of St. Gallen economists.
Swiss Finance Minister Hans-Rudolf Merz said he will step down after seven years during which the government helped rescue UBS AG from collapse and agreed to weaken the country’s banking secrecy rules.
The biggest threat to a revolution in emerging market trade may be the emerging markets themselves as Brazil slaps import curbs on Chinese toys, Russia claims China dumps cold-rolled steel and China keeps its currency undervalued.
Since women won the right to vote in the canton of Appenzell Innerrhoden in 1990, females have risen to rule Switzerland’s politics, making up four of the seven- member cabinet. Combining a career and motherhood presents a steeper climb.