They want to set up their own development bank to reduce their reliance on Western financial institutions.

FORBES: As BRICS Summit Begins, New Deals Between Strange Bedfellows

These statements can be interpreted as saying: thanks in advance for providing us with observer and eventual membership status in the GATT, the IMF, the World Bank, and the Asian Development Bank as well as expanded access to Western credits (particularly the taxpayer guaranteed variety).

CENTERFORSECURITYPOLICY: Center for Security Policy | ��East-West Relations At A Crossroads: The Role Of Western Economic And Financial Assistance��

Japan's wariness over this precipitous GATT concession, like its earlier opposition to Soviet membership in the ill-conceived European Bank for Reconstruction and Development, has reflected to date the most visionary Western policy approach to cosmetic Soviet economic half-steps.

CENTERFORSECURITYPOLICY: Center For Security Policy