Shanghai is leading a race to host the headquarters of a new "Brics" development bank. Jonathan Wheatley, deputy emerging markets editor, looks at what purpose a Brics bank would serve and whether the Brics acronym is still relevant today.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
