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Alba Garcia
Irati Lusarreta
Andrea Salazar
Iñigo Marcos
Jakob
ANTIQUE WORLD MAP
3.What their goals?
1.1. What are their goals?
Informal talks about policy
Led to the development bank.
What are the goals
“China and Russia reiterate the importance they attach to the status of India, Brazil, and South Africa in international affairs, and understand their aspiration to play a greater role in the UN.”
50% population 25% GDP
Why were they created?
2. Why were they created?
- US and Europe over-reported
- Imbalance
- Need for participation of non-G7 countries
- West still controls intl. financial institutions
3.How are they changing the international arena?
4. How are they changing the international arena?
- The BRICS term has become a marketing tool and has provided these countries with more representation and recognition all over the world
- The BRICS now have a greater say in global governance
- Call for multipolar world-order
- Diversification of FDI (foreign direct investment) flows
- Stronger economic stability and growth prospects among developing countries
BRICS
FDI
FDI
Investors
Developed western countries
BRICS
5.Critical review about the BRICS and Emerging powers
Pessimism and criticism by some authors. "The BRICS group has begun to lose much of its sheen(...) low hanging fruit from cheap labour and imported technology" (Pant, 2012)
5. Critical review
Pessimism and criticism by some authors. "The fortunes and impact of the BRICS individually and collectively have not lived up to their admirers’ expectations. Not only have the BRICS experienced varying degrees of economic decline and/or difficulty, but their capacity to act collectively has also been modest, to say the least." (Beeson & Zeng, 2018)
What is considered a world superpower? or a growing/powerful economy?
Corruption
Trade balance
HDI
CO2 per Capita
4. Evolution
1.2. Evolution
- The term BRIC - Not yet BRICS - was created by Jim O'Neil in 2001, to designate the world fastest growing economies. The 'S' was included when South Africa joined in 2011.
- Informal meeting between China and Russia to tackle terrorism and drug dealing, and as of 2003, economic issues
- They started collaborating informally in 2006
- The group was officially created in 2009
- In 2014 they created a development bank to bankroll their projects.
2009 The BRICS are officially constituted
2016 Their own development bank comes into play
2001
The term BRIC is coined
TIMELINE
2011 South Africa becomes a member of the BRICS
2006 Beginning of the collaboration
BRICS' GDP BETWEN 2001 AND 2050 (Shown in 2003 US $)
GDP Graphics
1.What are the BRICS?
Brazil
1.What are the BRICS?
China
- Coined at Goldman Sachs investment bank
- Speculated about the future dominant economies
- NOT a political alliance
- Powerful economic bloc
- Cooperation to attain interest
- Foreign expansion opportunity
Russia
South Africa
India
What is an emerging power?
G7?
Russia
China
1.1.Why is each country
important?
India
1.1.Why is each country
important?
Brazil
South Africa
India
- Human capital: way to value the labour of a country or organization
- 80% drugs manufacturers
- Services dealing with innovator information technology
- Transition: From 50 million to 150.
- 8% GDP and 20% exports
- New development bank, urbanization forum.
- Affordable health, virtual BRICS, language schools, programme environmental disasters
Brazil
- Biggest economy in Latin America
- Increasing international call for raw materials
- Biggest producer of coffee in the world
- The third world's corn producer
China
- Powerful economy, second global power
- Greater global exporter
- (1990) defined growth rates higher than advanced countries
- 27% global growth
- World's Economic Forum's Competitiveness Ranking: top 30
- Innovation Ranking: Top 20
- One of the most densely populated countries
Russia
- Third world's oil producer
- Seventh place in military spending
- Not an export center.
- Collapse of the Soviet Union: unipolar intl. arena dominated by US hegemony
- Do not share the southern's narrative but shares will to change the Status Quo
South Africa
- The greatest economy of the continent
- 45% mining production + 50% purchasing power
- Institutional stability, integrated financial market: top 20 countries to invest
- Fast- growing continent
- Convenient to China
1.3.Most important summits
1.2. Most important summits
- Annual meetings since 2009
+ This year: 11th meeting, in Brasilia
- Most important 3
- 2009: Yekaterinburg, Russia
- First formal summit
- Leaders of the BRIC
- Improve global economics & reform financial institutions
- 2011: Sanya, China
-Admission of South Africa
-Extension of geographic representation
-Democratization of global governance
- 2014: Fortaleza, Brazil
- NDB (New Development Bank) = initial 10.000.000.000.000 US$ in equal shares