>26% of the world land mass >31% of the world GDP as of 2018 (22.4% in 2017) >46% of the world population >Exports doubled from 2001 to 2011 >Intra-BRICS trade increased by 922% from 2002 to 2012
Focuses on economic-financial and political governance spheres.
>The New Development Bank (NDB) A.K.A. BRICS Development Bank which is aimed to help the countries with their infrastructural mega-projects.
>BRICS Contingent Reserve Arrangement (CRA) A framework to protect from the global liquidity.
>BRICS Payment System An alternative to SWIFT (A global intra-bank payment system based in the EU, controlled from the US)
>An alternative to the World Bank and IMF Only rumours, but a pretty realistic goal. Might get confirmed on the summit happening today in Johannesburg. ________________________________________________________________________________________
The BRIC has come a long way since its first summit in 2009 and the induction of South Africa the following year (which added an 'S' to the abbreviation). The five countries have united around the common goal of offering credible alternatives to the Bretton Woods system (dominated by the US, the EU and Japan).
The 10th BRICS Summit will take place amid economic acrimony between China and the US, with tensions boiling down to tit-for-tat announcements of tariffs on key imports. Amid the trade challenges between US-China and economic slowdown in EU and Japan, there is an opportunity for intra-BRICS trade to expand and power the global growth motor.
The NDB is set to support economic cooperation and integration projects, giving it an unprecedented opportunity to engage with Africa as the region puts in place an ambitious Continent Free Trade Agreement (FTA) to facilitate a single market for goods and services. Successful implementation of the FTA will require constructing infrastructure that can link the continent both internally and with other parts of the world.
*Salary for working class people in Romania is 8200usd per year
Jacob Reyes
Those are Jewish folks though, the second the ANC won they turned on Jews and are very pro-Hamas, they're shutting down the SA embassy in Israel as well, China wants a cut now, friend.
Dylan Davis
No bilelateral, trilateral, multilateral are total fair. If such agreement reached, someone always get the advantages while the rest got scammed. >NATO spending >EU policies >all trade deals I bet even at the BRICS, every party are ready to backstab each other.
William Scott
Is BRICS a meme organisation? Brasil - have potential but unable to solve internal problems, wont be really powerful Russia - have potential but unable to solve internal problems, probably will be slowly degrading/dying out India - shithole? China - The only real force in BRICS, yes future not really certain South Africa - shithole?
Adam Diaz
*yet
Jonathan Ross
BRICS is a meme
BRIC is ok but soon only RIC will even remotely work
Bentley Lopez
Shitholes unite!
Lincoln Russell
>Shitholes unite! To form MEGASHITHOLE?
Austin Moore
>BRICS thread A.K.A. Loser's club thread.
I'd really like to see you try upturn the world order though, because seeing you fail will be hilarious!
BRICS is the biggest meme. Pretentious fucking ball sacks trying to meme themselves as progressing nation, when internally they're all basically shitholes. Only China is somewhat okay, others are fuckin delusional.
