BRICS (Rohit)
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- BRICS is an international organization consisting of Brazil, Russia, India, China and South Africa, the five major emerging economies. - The objectives of BRICS are to achieve regional development, remove trade barriers and promote economic development and optimum use of resources. - BRICS summits are held annually, with the first in 2009 and most recent in 2016. The summits have established the New Development Bank and Contingent Reserve Arrangement. - Collectively BRICS countries account for over 25% of the world's land area and population, as well as 40% of global GDP.
BRICS (Rohit)
- 3. • BRICS standfor Brazil, Russia, India, China, South Africa. • BRICS came into existence in the Year 2001 as BRIC nations. • BRICS is International political organization of leading emerging economies. • Officially admitted as a BRIC nation on December 24, 2010.
- 4. • South Africa has been asked to join the BRIC group of major emerging markets. • South Africa stands at a unique position to influence African economic growth and investment . • India wants to increase commercial ties with Africa. • Chinais SouthAfrica’s largest tradingpartner.
- 5. Objectives of BRICS • To achieve regional development • To remove trade barriers. • Economic development. • Optimumuse of resources. • Build up relationship
- 6. BRICS Summit • The BRIC Countries Met For Their First Official Summit On 16 June 2009, In Yekaterinburg, Russia. • 2nd BRIC summit held on April 16, 2010 Brazil . • 3rd BRICS summit held on April 14, 2011 china. • 4th BRICS summit heldon march29,2012 India. • 5th BRIC summit held on 27 march 2013 in southAfrica.
- 7. • 6th BRIC summit heldon 6 July 2014 in Brazil. • 7th BRIC summit held on 10 July 2015 in Russia. • Main purpose of this summit open a New Development Bank and the BRICS Contingent Reserve Arrangement and during the summit inaugural meetings of the NDB were held, and it was announced it would be lending in local currency; and open up membership to non-BRICS countries in the coming months. • 8th- BRICS summit held in India in 2016.
- 8. Already BRICS accounts for: • 40 per cent of the world's population, • 25.9per cent of its total geographic area, • 40 per cent of global GDP • By 2050, BRICS countries expected to accounts for over 40% of the world’s population and 60%of global GDP. • China and India will become world’s dominant suppliersmanufactured goods and services • Brazil and Russia will become dominant suppliersraw materials.
- 9. BRAZIL KEYADVANTAGES: • One of the fastest growing economies in thelast century. • Brazilian economy becoming less dependent on exports. • Extremely richin resources such as coffee,sugarcane, iron, and crude oil etc. • Focus on equitable development has resultedin significant poverty reduction.
- 10. CHALLENGES FOR THE FUTURE: • Overburdened and ineffective judicial system. • Industrial output is weak.
- 11. RUSSIA KEY ADVANTAGES: • Russia has capability in high-technology sectors. • Accounts for around 20% of the world’s oil andgas reserves. • fall in the number of people living below the poverty line.
- 12. CHALLENGES FOR THE FUTURE: • Labor shortages and poorly developed infrastructure. • Corruption.
- 13. INDIA KEY ADVANTAGES: • 1.15 billion people. • 2nd largest labor force. • Approximately 2.5 million STUDENTgraduates per year.
- 14. CHALLENGES FOR THE FUTURE: • Improving basic educational achievement. • Improving infrastructure and electrical capacity. • Expanding technology industry
- 15. CHINA KEY ADVANTAGES: • Broad expansion of educational achievement. • Rapideconomic growth . • Third largest country in land size.
- 16. CHALLENGES FOR THE FUTURE: • Support to rural areas and less developed regions. • Bank of China sees inflation as a bigger risk . • Need to improve the investment.
- 17. South Africa KEY ADVANTAGE: • The South African economy is now the 23rd largest in the world. • Inflation is now below 5%and falling. • 25%of goods producedin South Africaare for export
- 18. CHALLENGES: • The economy is growing but not fast enough. • Lack of skills, particularly in IT. • 48%of the population is living below the poverty line
- 19. SWOT Analysis Strength of the BRICS nations: • To use resources. • Market opportunities. • Economicdevelopments.
- 20. Weakness of the BRICS nations: • Population problem. • lack of Infrastructure. • Decreasing GDP growth rate.
- 21. Opportunities of the BRICS nations: • To expand the market. • Regional development. • Monetary resources.
- 22. Threats of the BRICS nations: • Financial crises. • Threats from other unions. • Dollar role.