In South Africa, he will attend the fifth Brics summit from 26-27 March.

BBC: China

Gainor wrote about the recent BRICS Summit in south China.

FORBES: Soros' Bretton Woods Meeting Not So Scary

Brazil, Russia, India and China (and newcomer South Africa) want to set up their own regional development bank, heads of state said in India on Wednesday at the annual BRICS Summit.

FORBES: BRICs Want Their Own Bank

The 2011 BRICS Summit is the third such event.

FORBES: BRICS Summit 2011: Why Americans Shouldn't Fear this New "Superpower"

This week's fifth BRICS summit is concentrating on Africa with the theme "BRICS and Africa: A partnership for development, integration and industrialization" and South Africa has invited more than 20 African leaders to join the discussion.

NPR: China, Brazil Sign Local Currency Trade Deal

The humidity and sub-tropical rain in South Africa's port city of Durban is doing little to dampen the enthusiasm for the fifth Brics summit, the first time the leaders of Brazil, Russia, India, China and South Africa have met in Africa.

BBC: Brics nations meet to cement relationships

Media hail the Brics as a "global force" for a new world order after the group's summit in Durban.

BBC: China media: Brics as 'global force'

The Brics nations plan to announce the road map for setting up the bank at the group's annual summit in Durban between March 25 and March 27, the officials said.

WSJ: Brics May Offer Bank Stake to Non-Members