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BRIC Nations


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BRIC Nations

  1. 1. THE BRIC NATIONS Future Of The World….
  2. 2. CONTENT <ul><li>The BRIC’s </li></ul><ul><li>Dreaming with BRIC’s: Path to 2050. </li></ul><ul><li>Painting BRIC by numbers. </li></ul><ul><li>INDIA: A rising growth potential. </li></ul><ul><li>RUSSIA: A smooth political transition. </li></ul><ul><li>CHINA: Unleashing the “Caged Tiger”. </li></ul><ul><li>The ‘B’ in BRIC’s: Unlocking Brazil’s growth potential. </li></ul><ul><li>Shared Challenges & opportunities. </li></ul><ul><li>BRIC & International Politics. </li></ul><ul><li>Influence </li></ul><ul><li>The BRIC summit </li></ul><ul><li>Criticism </li></ul><ul><li>Conclusion </li></ul>
  3. 3. THE BRIC <ul><li>A grouping acronym referring to the countries of Brazil, Russia, India, and China. </li></ul><ul><li>Term was first prominently used in a Goldman Sachs report from 2003. </li></ul><ul><li>These countries aren’t a political alliance - but they have the potential to form a powerful economic bloc </li></ul><ul><li>These four countries are among the biggest and fastest growing emerging markets </li></ul><ul><li>Already BRIC accounts for: </li></ul><ul><ul><li>40 per cent of the world's population, </li></ul></ul><ul><ul><li>25.9 per cent of its total geographic area, </li></ul></ul><ul><ul><li>40 per cent of global GDP </li></ul></ul>
  4. 4. DREAMING WITH BRICS: THE PATH TO 2050 <ul><li>BRICs’ currencies could appreciate by 300%, providing a big tailwind for investors in BRIC assets. </li></ul><ul><li>By 2050, BRIC countries expected to account for over 40% of the world’s population, and 60% of global GDP. </li></ul><ul><li>Taken together, the BRICs could be larger than the United States and the developed economies of Europe within 40 years. </li></ul>
  5. 5. PAINTING BRIC BY NUMBERS Categories Brazil Russia India China Area 5 th 1 st 7 th 3 rd Population 5 th 9 th 2 nd 1 st Labour force 5 th 6 th 2 nd 1 st GDP(PPP) 9 th 7 th 4 th 2 nd Foreign exchange reserves 7 th 3 rd 5 th 1 st Active troops 14 th 5 th 3 rd 1 st
  6. 6. INDIA: A WISE ELEPHANT <ul><li>Globalization </li></ul><ul><li>Forces of globalization set the stage for rapid rise of Indian economy </li></ul><ul><li>Confluence of internal changes and external forces of globalization allowed India to leverage the power of English-speaking technical talent to produce powerful software for the global market. </li></ul><ul><li>Key Advantages </li></ul><ul><li>1.15 billion people </li></ul><ul><li>2 nd largest labor force: 516.3m people </li></ul><ul><li>Approximately 2.5 million college graduates per year </li></ul><ul><li>Those with graduate degrees and above have risen from 20.5 million in 1991 to 48.7 million in 2004 </li></ul>
  7. 7. INDIA: A WISE ELEPHANT <ul><li>Trends </li></ul><ul><li>Number of people in absolute poverty has declined sharply </li></ul><ul><li>Exports have boomed </li></ul><ul><li>Foreign exchange reserves are ample for the first time in history </li></ul><ul><li>Newfound economic dynamism has shifted the balance of leaders’ priorities from geopolitical goals to mutual economic interests. </li></ul><ul><li>Challenges for the Future </li></ul><ul><li>Improving governance </li></ul><ul><li>Improving basic educational achievement </li></ul><ul><li>Improving infrastructure and electrical capacity in cities </li></ul><ul><li>Expanding technology industry </li></ul>
  8. 8. RUSSIA: A SMOOTH POLITICAL TRANSITION <ul><li>An “easy case” for globalization </li></ul><ul><li>Undue emphasis on economics over politics </li></ul><ul><li>Disregard of cultural values </li></ul><ul><li>Russia can still benefit from a globalized world without undertaking painful reform. </li></ul><ul><li>Challenges for the Future </li></ul><ul><li>Labor shortages and poorly developed infrastructure </li></ul><ul><li>WTO membership and long-term growth of the manufacturing sector </li></ul><ul><li>Reconciling ambitions as a major power with reality of current situation </li></ul>
  9. 9. THE ‘B’ IN BRIC: UNLOCKING BRAZIL’S GROWTH P OTENTIAL <ul><li>The uneasy emergence of an economic leader in Latin America </li></ul><ul><li>One of the fastest growing economies in the last century </li></ul><ul><li>But over-reliance on agricultural commodity exports resulted in a development marked by boom and bust </li></ul><ul><li>Focus on equitable development has resulted in significant poverty reduction </li></ul><ul><li>Brazilian economy becoming less dependent on exports </li></ul><ul><li>A global leader in renewable fuels. </li></ul><ul><li>Challenges for the Future </li></ul><ul><li>Overburdened and ineffective judicial system </li></ul>
  10. 10. CHINA: UNLEASHING THE ‘CAGED TIGER’ <ul><li>How did China do it? </li></ul><ul><li>China’s successes are associated with liberalization and globalization. </li></ul><ul><li>China focused not only on opening economy, but also on institutionalizing globalization </li></ul><ul><li>Assimilation of best practices from across the globe </li></ul><ul><li>A Painful Transition </li></ul><ul><li>State enterprise employment declined from 110 million in 1995 to 66 million in 2005 </li></ul><ul><li>Urban-rural income gap is getting wider </li></ul><ul><li>Environmental cost of industrialization. </li></ul>
  11. 11. CHINA: UNLEASHING THE ‘CAGED TIGER’ <ul><li>Key Advantages </li></ul><ul><li>Broad expansion of educational achievement </li></ul><ul><li>Rapid economic growth </li></ul><ul><li>Resilience to global economic downturn </li></ul><ul><li>Challenges for the Future </li></ul><ul><li>Recognition as a global power requires adherence to international norms </li></ul><ul><li>Continued reform of state-run enterprises. </li></ul><ul><li>Demographic shifts threaten sustained growth. </li></ul><ul><li>Navigating a complex relationship with US and world. </li></ul>
  12. 12. SHARED CHALLENGES & OPPORTUNITIES <ul><li>Challenges </li></ul><ul><li>The face of poverty in 20 th century was rural children. The face of poverty in the 21 st century will be the urban elderly. </li></ul><ul><li>Making the global system more accommodating to diverse cultures and values </li></ul><ul><li>Opportunities </li></ul><ul><li>“ Inclusive growth” critical for sustained globalization (politically) in developing countries, because potential lies in bringing up all </li></ul>
  13. 13. BRIC AND INTERNATIONAL POLITICS <ul><li>Influence on “New world order”. </li></ul><ul><ul><li>U.S troops has been deployed in Afghanistan for more than 8 years without any substantive outcome. Afghanistan is close to China, India and Russia. </li></ul></ul><ul><ul><li>The controversial question of Iran. Russia, China and India could secure more proximity to the region. </li></ul></ul><ul><li>BRIC cooperation is not solely an anti-U.S., or anti-western phenomenon, but is based on deeper common interests. </li></ul><ul><li>Improve Bargaining Position with Western Countries. </li></ul><ul><li>Stabilize International Environment and Prevent Encirclement </li></ul>
  14. 14. INFLUENCE <ul><li>Account for 15% of the global economy and 42% of global currency reserves. </li></ul><ul><li>Between 2000 and 2005, the BRICs contributed roughly 28% of global growth in US dollar terms and 55% in purchasing power parity (PPP) terms. </li></ul><ul><li>Their share of global trade continues to climb at a rapid rate. At close to 15% currently, it is now double its level in 2001. </li></ul><ul><li>The BRIC’s share of oil demand is moving steadily higher, with an estimated 18% share in the current year </li></ul>
  15. 15. BRIC SUMMIT… AFTERMATH <ul><li>The BRIC countries met for their first official summit on 16 June 2009, in Yekaterinburg, Russia. </li></ul><ul><li>Discussed the current global financial crisis, global development, and further strengthening of the BRIC group. </li></ul><ul><li>Attacked the role of dollar as the primary international currency & suggested new global reserve currency that is 'diversified, stable and predictable'. </li></ul><ul><li>Issued a joint statement on global food security, calling for &quot;action by all governments and the relevant international agencies“ </li></ul>
  16. 16. CRITICISM <ul><li>Understatement of GDP growth in China which predicts growth falling far below normal development. </li></ul><ul><li>The BRIC’s dream isn’t green. </li></ul><ul><li>Nothing more than a neat acronym for the four largest emerging market economies. </li></ul><ul><li>BRICs doesn’t have a concrete and constructive agenda for change or vision for a future world order. </li></ul><ul><li>It is not clear what BRIC would do even if they were given the opportunity to remake the international order. </li></ul>
  17. 17. CONCLUSION <ul><li>The Importance of the U.S. </li></ul><ul><li>The BRICs have come together in a political grouping in a way that has far exceeded most expectations. </li></ul><ul><li>Although BRIC cooperation has been significant, intra-BRIC competition and rivalry are important limits on how much further BRIC cooperation can go. </li></ul>