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  1. 1. ROLE OF BRICS IN DEVELOPMENT OF INTERNATIONAL TRADE Pramod Gawade 16-PGDM-ABPM-54 Pramod Gawade (16-PGDM-ABPM-54)
  2. 2. ABOUT BRICS • BRICS stands for Brazil, Russia, China, and South Africa. • Came into existence in 2001 as BRICS nation • It is the fastest growing and emerging economics • BRICS is the international political organization of leading emerging economies. Its five members are all developing industrialized countries • The term BRICS was used for the first time in the Goldman Sachs report 2003
  3. 3. BRICS: Characteristics • Vast Land Area • Developing Economy Globally • Friendly Trade Relations • Challenges Related To Economic And Social Integration • Desire To Make The International Order More Representative • Possibility Of Cooperation In Many Areas
  4. 4. OBJECTIVE OF BRICS • To achieve regional development • To remove trade barriers • Economic development • Optimum use of resources • Building relationship
  5. 5. Role of BRICS The role of Brazil, Russia, India, China and South Africa (BRICS) as emerging protagonists in international development cooperation is significantly and rapidly changing. Over the last decade, BRICS have increased their financial as well as technical assistance and established distinct ways and means of economic cooperation, especially through southsouth- cooperation with Low Income Countries (LIC).
  6. 6. ABOUT THE BRICS NATION
  7. 7. BRAZIL KEY ADVANTAGES :  One of the fastest growing economies in the last centuries  Brazilian economy becoming less dependent on imports  Extremely rich in resources such as coffee, sugarcane, crude oil and iron etc.  Focus on equitable development has resulted in significant poverty reduction. Textiles, chemicals , iron ore , steel and motor vehicles industries.  Brazil today is the most popular of the BRICs so far as foreign direct investment is concerned.
  8. 8. RUSSIA KEY ADVANTAGES:  Russia has capability in high-technology sectors  Accounts for around 20% of the world’s oil and gas reserves  fall in the number of people living below the poverty line  68% of people comes under middle income group.  Highly educated workforce.  Third largest exporter of steel and aluminium
  9. 9. INDIA KEY ADVANTAGES • 1.15 billion people • 2nd largest labour force • Approximately 2.5 million college graduates per year • Broad knowledge economy • Holds second place followed by China in BRICS • Democratic country.
  10. 10. CHINA KEY ADVANTAGES • Broad expansion of educational achievement • Rapid economic growth • Third largest country in land size • 13% of people comes under middle income group. • Holds more than $3 trillion forex reserves. • Largest exporter/ importer for 32 and 34 countries respectively. • Cheap labour work force
  11. 11. 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 produced in South Africa are for export Richest in terms of its mineral reserves
  12. 12. BRICS TO BRICS TRADE
  13. 13. INTRA-BRICS TRADE Trade between Brazil, Russia & Rest of BRICS
  14. 14. Trade between India, China & Rest of BRICS
  15. 15. Trade between South Africa & Rest of BRICS
  16. 16. TARGET SECTORS FOR BRICS TRADE • Manufacturing, services and agriculture • Energy, infrastructure, mining beneficiation and healthcare • Construction and water provision • The green economy and tourism
  17. 17. What Is International Trade? International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events. Political change in Asia, for example, could result in an increase in the cost of labor, thereby increasing the manufacturing costs for an American sneaker company based in Malaysia, which would then result in an increase in the price that you have to pay to buy the tennis shoes at your local mall. A decrease in the cost of labor, on the other hand, would result in you having to pay less for your new shoes.
  18. 18. FOCUS OF BRICS FORUM To establish a development bank to balance the influence of the world bank and IMF, as well as creating a joint forging exchange reserve. • Business • Competitiveness • Governance& leadership • Science & technology • Poverty • Privet sector & prevention of corruption • Investment landscape • Trade • healthcare
  19. 19. Rising impact of the BRICSs in global financial markets • The US current account deficit (capital imports) and the current account surplus (capital exports) of emerging and oil producing countries including the BRICS’s capital movements run counter to the "common assumption” that capital flows from developed countries to developing countries. • Recent capital exports by emerging countries stem mainly from rising foreign exchange reserves.
  20. 20. NEW DEVELOPMENT BANK • Formed on July 2014 and came into force in July 2015. Earlier known as “ BRICS Development Bank”. • Headquarter in Shanghai. • 1st president from India & Chairman of Board of Directors from Brazil and Chairman of Board of Governors from Russia. • Unlike the world bank which assigns vote based on capital share, In the NDB each participant country will be assigned one vote. • NDB is source of rising strength of BRICS & against the domination of western countries through WORLD BANK & IMF
  21. 21. THANK YOU

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