Trade has generally been an engine for growth, with global trade increasing 145-fold between 1950-2004. However, developed countries have disproportionately benefited, occupying over 65% of world trade in 2002. While developing countries have opened their economies and increased trade as a percentage of GDP, they obtained fewer benefits due to factors like limited market access and subsidies in developed countries. Now, large developing countries like the BRIC nations (Brazil, Russia, India, China) are growing rapidly and may eclipse developed economies by 2050, reflecting a shift toward a multipolar world with more balanced global power.
Introduction to Global Economic & political Systems: Meaning of Global Economy and its History Structure and
Components of Global Economy, Theory of Hegemonic Stability, Differences among National Economies, Market
Oriented Capitalism, Developmental Capitalism, Social Market Capitalism, Comparative Analysis, Effects of
Globalization on Indian Economy.
Contemporary issues and Challenges in Global Economic Environment - Indian perspective: Globalization and
its Advocacy, Globalization and its Impact on India, Fair Globalization and the Need for Policy Framework,
Globalization in Reverse Gear-The Threatened Re-emergence of Protectionism. Euro zone Crisis and its impact
on India, Issues in Brexit, World recession, inflationary trends, impact of fluctuating prices of crude oil, gold
etc.
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
The globalization paradox in the 21st century and its applicability in the an...Armend Muja
During the last three decades (1980-2010) there has been an intensification of international economic exchange both in volume, regions and people involved. The scale and depth of economic integration has raised concerns among scholars that these developments are reminiscent of the era of pre-Great Depression liberalization. Critics of globalization point out that the removal of trade barriers and capital controls would tilt the balance of power towards capital holders and richer economies. Arguably, this undermines state sovereignty, democracy and internal stability. A growing number of scholars have dismissed those concerns pointing out the net benefits of trade and globalization and reduction of world poverty. The paper finds that concerns of the demise of the nation state due to increased economic globalization are exaggerated. Increased liberalization has only served to strengthen the role of governments. However, the net gains from increased economic exchange have not been equally shared domestically nor across trading regions. Countries that have embraced globalization but maintained their breaks over its downsides have made most gains.
Why Islamic Common Market if not an Islamic Union is necessarySUN&FZ Associates
It is challenging but not impossible!
Economic Power of any country is its real power in today’s world. Every other tangible and intangible element of national power without substantive economic power is worthless in international relations and global power politics.
Expertise in commercial diplomacy is an essential pre-requisite to configure a country’s tangible and intangible elements of national power. This is exactly what the rulers of the emerging economies have done to break the barriers of demographic constraints and to get out of the debt trap.
The world’s richest natural resource and human talent market with close to more than two billion potential consumers is a reasonably promising consumer community to start thinking of and working on!
Introduction to Global Economic & political Systems: Meaning of Global Economy and its History Structure and
Components of Global Economy, Theory of Hegemonic Stability, Differences among National Economies, Market
Oriented Capitalism, Developmental Capitalism, Social Market Capitalism, Comparative Analysis, Effects of
Globalization on Indian Economy.
Contemporary issues and Challenges in Global Economic Environment - Indian perspective: Globalization and
its Advocacy, Globalization and its Impact on India, Fair Globalization and the Need for Policy Framework,
Globalization in Reverse Gear-The Threatened Re-emergence of Protectionism. Euro zone Crisis and its impact
on India, Issues in Brexit, World recession, inflationary trends, impact of fluctuating prices of crude oil, gold
etc.
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
The globalization paradox in the 21st century and its applicability in the an...Armend Muja
During the last three decades (1980-2010) there has been an intensification of international economic exchange both in volume, regions and people involved. The scale and depth of economic integration has raised concerns among scholars that these developments are reminiscent of the era of pre-Great Depression liberalization. Critics of globalization point out that the removal of trade barriers and capital controls would tilt the balance of power towards capital holders and richer economies. Arguably, this undermines state sovereignty, democracy and internal stability. A growing number of scholars have dismissed those concerns pointing out the net benefits of trade and globalization and reduction of world poverty. The paper finds that concerns of the demise of the nation state due to increased economic globalization are exaggerated. Increased liberalization has only served to strengthen the role of governments. However, the net gains from increased economic exchange have not been equally shared domestically nor across trading regions. Countries that have embraced globalization but maintained their breaks over its downsides have made most gains.
Why Islamic Common Market if not an Islamic Union is necessarySUN&FZ Associates
It is challenging but not impossible!
Economic Power of any country is its real power in today’s world. Every other tangible and intangible element of national power without substantive economic power is worthless in international relations and global power politics.
Expertise in commercial diplomacy is an essential pre-requisite to configure a country’s tangible and intangible elements of national power. This is exactly what the rulers of the emerging economies have done to break the barriers of demographic constraints and to get out of the debt trap.
The world’s richest natural resource and human talent market with close to more than two billion potential consumers is a reasonably promising consumer community to start thinking of and working on!
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
Introduction to Global Economic & political Systems: Meaning of Global Economy and its History Structure and
Components of Global Economy, Theory of Hegemonic Stability, Differences among National Economies, Market
Oriented Capitalism, Developmental Capitalism, Social Market Capitalism, Comparative Analysis, Effects of
Globalization on Indian Economy. (6)
2. The Trading System: Debate over Free Trade – Functions of GATT and WTO, The Uruguay Round and World
Trade Organization, Trade Blocs – EU, OECD, OPEC, SAARC, ASEAN, NAFTA, Threats to Open Trading System,
Developments in International Trade Theory, Bi-lateral, Multilateral Trade Agreements, Impact of Trade wars in
liberalized economy. (6
Investors caught off guard by the Great Game’s evolution
stand to lose – on the low end – $1.41 trillion every year from
Wall Street alone.
And billions more could be eradicated from their bank
accounts due to spikes in energy and natural resource prices
– mixed with sharp drops in the U.S. dollar.
Ask yourself: Are you protected?
You don’t want to be left without a chair when the music stops.
As this Global Game unfolds, our entire way of life will
experience a dramatic shift for which very few investors have
prepared http://withDrDavid.com
Here’s a taste of the road ahead for the global economy:
• Coming supply shocks to natural resources – from oil and gas
to grains and rare earth metals – could unleash rampant
inflation that tears through every corner of the world economy.
• Exposure to mounting domestic debt leaves numerous leading
economies vulnerable to mounting geopolitical pressures,
reducing their political influence and driving up interest rates.
• The re-balancing of power between nations could cause
certain currencies to crash, economies to weaken, and
companies to crumble.
Trade funds Guide (Clients' Guide to Private Placement)Prabhjot Bhangu
Guide to trade funds… Look no further…!!
Save the journey of joker brokers…!!
Follow the procedures…!!
Life will be easy….!!!
Find us for more information...
Our project team prepared this slide deck to support presentation of our research results for the Managerial Economics course at UT Arlington Graduate School.
We performed a minor research project to determine whether there was a correlation between joining WTO and improved GDP growth over a 10-year period.
In this presentation, we will discuss about how or what conditions trigger international trade, which are further elaborated through various theories of international trade.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
Introduction to Global Economic & political Systems: Meaning of Global Economy and its History Structure and
Components of Global Economy, Theory of Hegemonic Stability, Differences among National Economies, Market
Oriented Capitalism, Developmental Capitalism, Social Market Capitalism, Comparative Analysis, Effects of
Globalization on Indian Economy. (6)
2. The Trading System: Debate over Free Trade – Functions of GATT and WTO, The Uruguay Round and World
Trade Organization, Trade Blocs – EU, OECD, OPEC, SAARC, ASEAN, NAFTA, Threats to Open Trading System,
Developments in International Trade Theory, Bi-lateral, Multilateral Trade Agreements, Impact of Trade wars in
liberalized economy. (6
Investors caught off guard by the Great Game’s evolution
stand to lose – on the low end – $1.41 trillion every year from
Wall Street alone.
And billions more could be eradicated from their bank
accounts due to spikes in energy and natural resource prices
– mixed with sharp drops in the U.S. dollar.
Ask yourself: Are you protected?
You don’t want to be left without a chair when the music stops.
As this Global Game unfolds, our entire way of life will
experience a dramatic shift for which very few investors have
prepared http://withDrDavid.com
Here’s a taste of the road ahead for the global economy:
• Coming supply shocks to natural resources – from oil and gas
to grains and rare earth metals – could unleash rampant
inflation that tears through every corner of the world economy.
• Exposure to mounting domestic debt leaves numerous leading
economies vulnerable to mounting geopolitical pressures,
reducing their political influence and driving up interest rates.
• The re-balancing of power between nations could cause
certain currencies to crash, economies to weaken, and
companies to crumble.
Trade funds Guide (Clients' Guide to Private Placement)Prabhjot Bhangu
Guide to trade funds… Look no further…!!
Save the journey of joker brokers…!!
Follow the procedures…!!
Life will be easy….!!!
Find us for more information...
Our project team prepared this slide deck to support presentation of our research results for the Managerial Economics course at UT Arlington Graduate School.
We performed a minor research project to determine whether there was a correlation between joining WTO and improved GDP growth over a 10-year period.
In this presentation, we will discuss about how or what conditions trigger international trade, which are further elaborated through various theories of international trade.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
Harnessing Social Media to Build Your Professional BrandMary Ann Halford
Presentation on how professionals can use social media to build their professional brand. The presentation was given to the Lone Wolves NYC group by Mary Ann Halford of BizWorks360.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Is trade really an engine for growth and development ar nab
1. Is Trade really an Engine for Growth and Development for Developing Country? ARNAB GHOSH 09/MBA/56 1 NITD_DoMS
2. Trade occurred since the time of the Stone Age when people exchanged goods and commodities by means of barter trade. However, no currency was involved until later time when it was used as media of transaction. 2 NITD_DoMS
3. Expanded at an accelerating rate since the end of World War II.. Over the past 55 years’ time between 1950 and 2004, global trade increased 145 times at a rate of 2.6% per year. The trade has grown even faster over the recent 5-year period (2000-2004), increasing from US$13,069 billions to US$18,220 billions in 2004 at a rate of 9% p.a. (UNCTAD 2005). 3 NITD_DoMS
4. The global trade grew faster than the overall economy during the time, thus creating a huge amount of money flowing around the globe and generating a lot of employment. Developing countries, open their economies more for international trade as evidenced from the increased contribution of trade to GDP from 23% to 38% during 1985-1997 4 NITD_DoMS
5. Main contributors to an upward trend of the global trade growth Advances in transportation, communication and information technologies that helped facilitating trade, reducing transaction and transportation costs, and increasing economy of speed and efficiency which lead to an increase in trade. Improvements in trading environment of negotiation and formation of multilateral, regional and bilateral trade agreements which reduced tariff, non-tariff barriers, and trading costs; increased competitiveness; and expanded trade. 5 NITD_DoMS
6. Disproportionate Gains from Trade Trade has had a significant role in bringing about growth and development to the global economy. It was the developed countries which occupied more than 65% of total world trade volumes in 2002 reaping benefits from international trade. Developed countries obtained benefits and proportionate gains from trades mostly due to better terms of trade and efficiency gains. 6 NITD_DoMS
7. Disproportionate gains, and for some a welfare loss, were found to generally fall upon the developing countries as results of the combined effects of limited market access, domestic and export subsidies put in place by the developed countries, unfair competition and other trade/non-trade barriers. 7 NITD_DoMS
8. But today the scenario is something different... In economics, BRIC (typically rendered as "the BRICs" or "the BRIC countries" or known as the "Big Four") is a grouping acronym that refers to the related countries of Brazil, Russia, India, and China. The acronym was coined by Jim O'Neill in a 2001 paper entitle "The World Needs Better Economic BRICs" . The acronym has come into widespread use as a symbol of the shift in global economic power away from the developed G7 economies toward the developing world.. 8 NITD_DoMS
9. From the research study of Goldman Sachs… Since BRIC countries are developing rapidly, by 2050 the combined economies of the BRICs could eclipse the combined economies of the current richest countries of the world. The four countries, combined, currently account for more than a quarter of the world's land area and more than 40% of the world's population. 9 NITD_DoMS
10. There are some indications that the "four BRIC countries have been seeking to form a 'political club' or 'alliance'", and thereby converting "their growing economic power into greater geopolitical clout". On June 16, 2009, the leaders of the BRIC countries held their first summit in Yekaterinburg, and issued a declaration calling for the establishment of a multipolar world order.. 10 NITD_DoMS
11. MULTIPOLAR WORLD ORDER Polarity in international relations is any of the various ways in which power is distributed within the international system. It describes the nature of the international system at any given period of time. One generally distinguishes four types of systems: unipolarity (Unipolarity in international politics is a distribution of power in which there is one state with most of the cultural, economic, and military influence.) bipolarity(Bipolarity is a distribution of power in which two states have the majority of economic, military, and cultural influence internationally or regionally), tripolarity, and multipolarity, for four or more centers of power (Multipolarity is a distribution of power in which more than two nation-states have nearly equal amounts of military, cultural, and economic influence). The type of system is completely dependent on the distribution of power and influence of states in a region or internationally. 11 NITD_DoMS
12. BALANCE OF POWER In international relations, a balance of power exists when there is parity or stability between competing forces. As a term in international law for a 'just equilibrium' between the members of the family of nations, it expresses the doctrine intended to prevent any one nation from becoming sufficiently strong so as to enable it to enforce its will upon the rest. 12 NITD_DoMS
13. "BoP" is a central concept in neorealist theory. Within a balance of power system, a state may choose to engage in either balancing or bandwagoning behavior. In a time of war, the decision to balance or to bandwagon may well determine the survival of the state.. 13 NITD_DoMS
14. Measuring the Power Concentration.. The formula was developed by J. David Singer et al. in 1972. Nt = the number of states in the great power system at time t Sit = the proportion of power possessed by state i at time t (must be a decimal figure) S = the proportion of power possessed i = the state of which the proportion of control over the system's power is being measured t = the time at which the concentration of resources (i.e. power) is being calculated = the sum of the proportion of power possessed by all states in the great power system 14 NITD_DoMS
15. The closer the resulting concentration is to zero, the more evenly divided power is. The closer to 1, the more concentrated power is.. A result between 0.4 and 0.5 usually indicates a unipolar system, while a result between 0.2 and 0.4 usually indicated a bipolar or multipolar system. Concentration can be plotted over time, so that the fluctuations and trends in concentration can be observed. 15 NITD_DoMS
16. Examples .. The most recent example of a unipolar world has been one dominated by the United States since 1991, in the aftermath of the collapse of the Soviet Union In the Cold War, most Western and democratic states would fall under the influence of the USA, while most Communist states would fall under the influence of the USSR. After this, the two powers will normally maneuver for the support of the unclaimed areas. 16 NITD_DoMS
17. Nonpolarity.. Nonpolarity is an international system with numerous centers of power but no center dominates any other centre. Centers of power can be Nation-states,corporations, non-governmental organizations, terrorist groups, and such. Power is found in many hands and many places 17 NITD_DoMS
18. The term “New World Order" has been used to refer to any new period of history evidencing a dramatic change in world political thought and the balance of power. Despite various interpretations of this term, it is primarily associated with the ideological notion of global governance only in the sense of new collective efforts to identify, understand, or address worldwide problems that go beyond the capacity of individual nation-states to solve. 18 NITD_DoMS
19. The BRIC thesis..“Dreaming with BRICs: The Path to 2050” Paper published in 2003 by Goldman Sachs.. China's economy will surpass Germany in the next few years, Japan by 2015, and the United States by 2041. India's growth rate will be the highest—not China's -- and it will overtake Japan (today the world's second-largest economy) by 2032. BRICs’ currencies could appreciate by 300% over the next 50 years, providing a big tailwind for investors in BRIC assets. Taken together, the BRICs could be larger than the United States and the developed economies of Europe within 40 years. By 2025, BRICs will bring another 200 million people with incomes above $15,000 into the world's economy. That's equal to the combined populations of Germany, France and the United Kingdom 19 NITD_DoMS
20. Net Welfare Gain and Loss of FTA Many developing countries still have been eagerly pursuing to enter into trade blocs and other economic cooperation agreements, individually or collectively, with developed countries.. Under the negotiation process: ASEAN-India FTA, ASEAN-USA FTA, Japan-Thailand FTA (JTEPA), Thailand-USA FTA, Malaysia-USA FTA, Japan-Philippine FTA, Malaysia-Japan FTA, Korea-USA FTA, and Thailand-Pakistan FTA, etc. 20 NITD_DoMS
21. There is no definite answer as to why developing countries insist on entering into such trade agreements, notwithstanding possible negative consequences. It can be argued that developing countries affirmingly believe in the laissez-fair economic philosophy that trade, eventually, is welfare-enhancing It is also believed that they wish to substitute the bi-lateral or sub-regional FTAs for the seemingly unsatisfactory multilateral-trade negotiations under the auspice of WTO in expectation that they, individually, can gain better access to developed countries’ markets through a better terms of trade. 21 NITD_DoMS
22. It can also be said that these developing countries wish to be the first to reap the benefits from trades with a larger developed countries’ market in hoping that the advantage from trade will offset the disadvantage. The reality is that the trend toward trade liberalization and economic integration between developed and developing countries are real and still continuing. 22 NITD_DoMS
23. The Need for Quantitative Evaluation of FTA Trade liberalization could be either/both welfare-enhancing and/or welfare-reducing, i.e., FTA could generate either net welfare gain or loss to any individual country, particularly a developing country, when it enters into an agreement with a developed country.. Quantitative assessment of values .. 23 NITD_DoMS
24. As trade agreement also touches upon social and health aspects of the country, lacking a careful balance, it could provoke social disagreements and controversies within that society. 24 NITD_DoMS
25. Negative Effects… Case of a negative impact of the trade practice by one country on economic welfare of another is the US cotton subsidy program which has caused world cotton prices to significantly decrease, harming cotton growers and other developing nations who have comparative advantage in exporting cotton.. The EU sugar production subsidy regime allows EU sugar producers to produce and export sugar at below total cost of production, an actionable form of export subsidization allowed under the WTO Subsidies Agreement. 25 NITD_DoMS
26. Consequently both cases were brought up to WTO Dispute Settlement Body by Brazil in 2005 (United States Subsidies on Upland Cotton, WT/DS 267/AB and European Communities Export Subsidies on Sugar, WT/DS 283/AB), which ruled against the practices. However, only EU has agreed to comply with the decision, whereas the US has, so far, refused to abolish this unfair trade practice yet. 26 NITD_DoMS
27. In particular, when a comprehensive FTA proposal involves more than liberalization of trade in goods and/or services sectors, i.e., if it includes measures and agreements involving e.g. investment, intellectual property rights, S&T and other aspects of economic cooperation, a greater care is even needed to study, assess and quantify not only the likely impacts of the proposed FTA on the country’s economics but also on the society, culture, environment, natural resources, biodiversity, food, health, and most importantly, the individuals as a whole. 27 NITD_DoMS
28. It should not be suggested that a developing country should seek to enter into the FTA if the study shows that the advantages from the FTA is less than the disadvantages.. In this regard, trade will not be an engine for growth and development of developing country. 28 NITD_DoMS
29. This necessary and helpful information could be obtained from a transparent and accountable research on quantitative economic analysis and assessment which transparency and accountability are derived from subjecting the research findings to public participation and recommendation 29 NITD_DoMS
30. Finally, it is vital that this information be taken into consideration before implementing the FTA. 30 NITD_DoMS
31. Here’s more…. India is taking proactive measures to conclude bilateral trade agreements with the European Union, Japan and Malaysia, as the future of the Doha round of multilateral trade talks look uncertain because of the protectionist stance of the developed countries. "We are making efforts to conclude the talks as soon as possible. I will meet my counterparts from the EU, Asean countries, Japan and Malaysia to speed up the process," Commerce and Industry Minister Anand Sharma has said. Sharma is scheduled to meet key ministers of Asean countries in Vietnam on Aug 26 and 27. NITD_DoMS 31
32. India signed trade in goods agreement with the Association of South-East Asian Nations (Asean) last year. The agreement that came into force from the January 1, 2010, covers tariff liberalization between the sides. However, out of 10 nations that form Asean, only four - Vietnam, Singapore, Thailand and Malaysia - have operationalised the agreement so far. India targets to increase its trade with Asean countries to $70 billion by 2012 from $43.5 billion in 2009-10. NITD_DoMS 32
33. Sharma said India would continue to look for new trading partners in a bid to reduce dependence on the conventional partners like the US and European countries. "Diversification of trade is essential. This has drawn more attention because of the developed countries," he added. Sharma will be heading an official delegation to Vietnam to review progress on India-Asean Services and Investment negotiations. During his Vietnam visit, Sharma is also scheduled to meet Japanese trade minister Masayuki Naoshima, EU Trade Commissioner Karel De Gutch and Malaysian Minister for International Trade and Investment Mustapa Mohamed to review the progress made towards India-Japan Comprehensive Economic Partnership Agreement (CEPA), India-EU Trade and Investment Agreement and India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) negotiations respectively. NITD_DoMS 33