The BRICS - Brazil, Russia, India, China, and South Africa - have decided to set up their own development bank to rival the World Bank. This initiative is not happening in a vacuum.

So, what is really happening in the Northern hemisphere? Why are nations referred as developed, in huge trouble? Is it because of the rise of China and India; the end of colonialism, and progressive coming to an end of neo-colonialism; and the decryption of western technological secrets by some emerging markets, leading to a new world economic order?

There are a number of ways that gender inequality can be addressed. But now is the time to stop talking and move to take action. The issues are global and the need for action in the emerging markets is crucial.