at the Brics summit in Fortaleza, Brazil.

Development finance is already crowded. Apart from the multilateral and regional institutions, there are several such sub-regional institutions as the Caribbean Development Bank, the Islamic Development Bank and myriad national development banks like China Development Bank and Brazilian Development Bank (BNDES). BNDES is now much bigger than the World Bank in terms of gross disbursements; it even has branches in South Africa, the UK and Uruguay.

Overlap and duplication, conflicts between national, regional and multilateral interests are frequent and unavoidable – making the case for another development bank underwhelming. Read more

When Narendra Modi, prime minister, meets the leaders of the BRICS nations in Fortaleza in Brazil this week, the main topic of discussion will be the mandate of the BRICS development bank –citizenship in the United States provided that, on attaining majority, he elects to retain that citizenship and to return to the United States to assume its duties. P. 307 U. S. 329.

Expatriation is the voluntary renunciation or abandonment of nationality and allegiance. P. 307 U. S. 334.

5. This right of election is consistent with the naturalization treaty with Sweden of 1869 and its accompanying protocol. P. 307 U. S. 335.

6. The Act of March 2, 1907, in providing "That any American citizen shall be deemed to have expatriated himself when he has been naturalized in any foreign state in conformity with its laws, . . . " was aimed at voluntary expatriation, and was not intended to destroy the right of a native citizen, removed from this country