India's growing economy

India is on track to become the world’s fourth largest economy in 2022 according to the IMF.  The IMF report appears to back a World Bank report.  The World Bank report classified India’s economy as still robust and forecast that GDP growth would bounce back in coming years to regain its momentum, with growth rising to 7.6 per cent in 2018 and strengthening to 7.8 per cent in 2019.

 

http://thebricspost.com/can-india-outpace-germany-uk-by-2022/#.WQc3J3k2z1I

China plans skills training

China will work with the other BRICS countries to put in place an action plan for skills-training to increase productivity and reduce poverty.  China plans to get rid of poverty and build a moderately prosperous society by 2020. Skills training are one of the approaches for meeting the challenging target. BRICS countries represent 43 per cent of the world’s population.  Being that I was once an Electrician I think this is a good idea to have a program that will build on apprenticeships and skills.

China exports surge in January

China surpassed the expectations of economists by increasing their exports by 7.9% versus the same time one year ago. In January, China also saw an increase in exports to the United States by 9%. China also increased their imports by 16.7% from last January as well. These two factors indicate that China's economy is stronger than economists have forecasted.

BRICS Countries Urge Others to Oppose Trade Protectionism

BRICS countries today urged other nations around the world to oppose trade protectionism and encouraged transparent global trade. The BRICS nations also urged countries to resist anti-global thinking that is starting to rear its ugly head. They also stated that wealthy countries need to lead the way with helping developing countries and their trade agreements. I personally think this is a great idea. This would help consumers around the world by reducing the costs that are passed on to them by added taxes and tariffs.

BRICS still cooperating with Syria

BRICS countries have condemned the Syrian government's use of chemical weapons last week, but they  have stated that they will still continue to do business with Syria. To me this seems like a hollow condemnation of Syria using chemical weapons because they will continue to do business with them. If BRICS were really serious they would stop doing business with them. I think the biggest factor in this all is the fact that the Russian government has supported the Syrian government since the beginning of it's civil war. I think the rest of the BRICS countries don't want to go against the Russians. I know this topic doesn't have a lot to do with international business, but I thought it was important information to bring to everyone's attention.

BRICS members are fighting TRIPS on pharmacueticals

The BRICS members are going to seek support from WTO in disputes with EU and US drugs patents. They are wanting to promote cheaper generic drugs to their own population stating that the developing countries rights "to promote access to medicines for all". But the large drug companies are stating this will cost them billions in lost sales.

http://thebricspost.com/brics-push-back-against-eu-us-on-drug-patents/#.WOGlKYWcFYc

$500 million now available in new bonds

The New Development Bank, which is run by the countries that belong to BRICS, has made available $500 million rupee denoted masala bonds. This bond can only be issued outside of India. This bank is headquartered in Singapore and has $100 billion in assets.