The BRICS do not challenge our basic concepts of development
The BRICS do not Challenge ourBasic Conceptions of Development. By Rachel, Priyanka & Helen
Jim ONeill Head of Global Economics Research “If BRICs countriespursue good economic policy (…) their economies could become the biggest in the world. (...)It will provide for thosethat have INVESTED in the BRICsdream, almost definitely, pretty spectacular returns.” (ONeill 2009 emphasis added)
Infrastructure & TradeFDISource: Department of Industries Nepal 1 China South Asia is the lowest ranking recipient of FDIYear No. Billion 2 India JV NPR 3 USA2010- 209 10.052011 4 South Exports Korea India $532,589,892 China $17,437,6072011- 227 7.14 So. African Customs Union $940,745 Russia $930,0592012 Brazil $766,642 United States $71,676,402Roads Energy United Kingdom Japan $11,690,760 $21,788,888 In 2010 Nepal was the 2nd lowest ROW $254,382,731.68 REDP GoN, UN & World Bank Imports India $1,301,144,920 China $665,972,867 Brazil $7,945,087 Russia $659,628 So. African Customs United Kingdom Union $359,025 $102,302,042 China x10 Hydro China Japan $83,070,585 United States $24,783,838 India Projects ROW $1,081,120,853 Japan World Bank Asian Development Bankhttp://scaef.org.np 2009 Cross World Source: The Economic Complexity Observatory MIT Border Bank & Improvemen India
Conclusion - Discourse level development is articulated differently- Their concepts are complimentary rather than challenging - In practice they both support economic growth - BRICS alternative approach is a call for more egalitarianpower structures in bodies such as the IMF and UN
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