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The BRICS do not challenge our basic concepts of development
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The BRICS do not challenge our basic concepts of development

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  • 1. The BRICS do not Challenge ourBasic Conceptions of Development. By Rachel, Priyanka & Helen
  • 2. 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)
  • 3. BRICS
  • 4. CONCEPTS OFDEVELOPMENT
  • 5. DEVELOPMENT DISCOURE
  • 6. - Poverty ReductionDAC - Other Social Spending - Policy Conditionality - (Macro)Long-run Debt Sustainability - Mutual Accountability - Harmonization - Realization that Trade & Aid are Complementary
  • 7. - Infrastructure & Trade- None Cash Financing- Zero Conditionality- Micro Sustainability- Mutual Benefits- Economic Growth- Realization that DebtSustainability Should beHigh Priority
  • 8. PRACTICE
  • 9. NEPAL
  • 10. 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
  • 11. 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
  • 12. BibliographyThe Economic Complexity Observatory [2011] Learn more about trade in Nepal MIT: MIT Avaliable from:http://atlas.media.mit.edu/country/npl/ [01/12/12]Chandan Sapkota [2012]Review of the Nepali Economy Fiscal Year 2011-2012 [Chansan Sapkotas Blog - FDI] [01/09/2012]Available at: URL: http://sapkotac.blogspot.co.uk/search/label/FDI [01/12/12]The Economist [2012] IMF Influence: Light-weight BRICS. The Economist: London. Available from:http://www.economist.com/blogs/dailychart/2011/06/imf-influence [01/12/12]Tulasi Prasad Sitaula [2009] Infrastructure Development in Nepal: Opportunitiesand Challenges for Engineers. SCAEF Conference: Nepal Available from:http://scaef.org.np/conference/conference/pdf/Session-3/2.%20Tulasi%20Sitaula%20-%20Theme.pdf [01/12/12]AidData.org [2012] The First Tranche: A Blog by AidData Staff. Washington: USA. Available from: http://blog.aiddata.org/[01/12/12]TheVirusBrox [2009] The BRICs Dream (HQ) Available at: http://www.youtube.com/watch?v=fOdcQ3emyzM&noredirect=1[01/12/12]Prithiv Man Shrestha [2012] China eyes Nepal as next investment destination. Ekantipur: Nepal. Available from:http://www.ekantipur.com/2010/09/17/top-story/china-eyes-nepal-as-next-investment-destination/322345/ [01/12/12]The BRICS [2012] BRICS summit Delhi Declaration. 2012 Summit: Delhi. Available from:http://www.cfr.org/brazil/brics-summit-delhi-declaration/p27805 [01/12/12]OECD [2005/8] Paris Declaration on Aid Effectiveness & Accra Agenda for Action. OECD: Paris & Accra. Available from:http://www.oecd.org/dac/aideffectiveness/34428351.pdf [01/12/12]Mwase and Yang [2012] BRICs’ Philosophies for Development Financing and Their Implications for LICs. IMF:Washington. Available from: http://www.imf.org/external/pubs/ft/wp/2012/wp1274.pdf [01/12/12]Eyben, R. [2012] What role do emerging powers play in the future of development cooperation? IDS: Brighton. Availablefrom: http://www.ids.ac.uk/news/what-role-do-emerging-powers-play-in-the-future-of-development-cooperation [01/12/12]