Does BRICS is more than a catchphrase

Brics summit in New Delhi, 29 March 2012

Walter Ladwig wrote in NYTIMES: An Artificial Bloc Built on a Catchphrase recalling the history of this relation between different nations from different cultures, languages and continents. Does what unite BRICS nations is more than just a catchphrase by Golden Sachs?

29 March 2012, is the date when the 5 nation’s leaders united in New Delhi, India in their 4th summit to drive 40% of Global population and 25% of Global economy. The summit revealed agreement to Establish a permanent headquarter and a Bank. But are the nations untied under similar interests?

BRICS External Strengths

  1. Russia and Brazil are primarily natural resource exporters.
  2. China and India focus on manufacturing and services.
  3. 40% of globe workforce.
  4. 25% of globe economy.
  5. Within the top 7 economic leaders.
  6. Russia and China “Veto” power in security council, UN.
  7. Shared vision to end Europe’s monopoly over the leadership of the IMF.

Internal Conflicts:

  1. India, Brazil and South Africa are democracies, while China and Russia are away from this definition.
  2. The average Russian living standards is twice as rich as a comparable Chinese citizen, who is in turn twice as well-off as an Indian citizen.
  3. Considering total GDP, Russia and South Africa are not considered as major emerging markets.
  4. WikiLeaks demonstrated that China has long opposed efforts to give rising powers a permanent seat on the Security Council.
  5. Despite “India-China Friendship” in 2012 but Beijing is a major supplier of weapons technology to Pakistan.
  6. Brazil concerns about the growth of Chinese investment in Latin America which undermining its leading role.
  7. Russia has complained about China undervaluing its oil exports.

These facts raise a big question mark, would future carry an answer?

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About Rami Alhames

I'm a Syrian Brazilian, Freelance Translator and Social media contributor @GlobalVoices @GVinArabic, Meedan, in Portuguese, Arabic and English.
This entry was posted in Econmoy & Business, English and tagged , , . Bookmark the permalink.

One Response to Does BRICS is more than a catchphrase

  1. Pingback: Broken BRICs | Syrian in Brazil

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