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.

BRICS Update

China has pledged to provide more finances to help businesses within the BRICS countries and is urging the other BRICS nations to do the same. This will allow businesses within these countries to access loans with greater ease. This will allow the economies of the BRICS nations to continue to grow. China’s Finance Minister also suggested that the BRICS companies choose one currency for all financial dealings. He suggests that this will boost financial cooperation. 

Possible BRICS Expansion

Yesterday China's Foreign Minister Wang Yi made a statement that China would like to see BRICS expansion in the near future. Yi suggested the inclusion of Mexico,Pakistan, and Sri Lanka be included in the group. Yi also suggested a new name for the group, BRICS-Plus. India is not to happy about China's plan for expansion. They feel that China is trying to undermine India's influence on the group by wanting to include pro Chinese countries for the group. It should be interesting to see what developments come about in the next few months.

BRICS Nations Join Hands to Save Envornmnt

The environmental ministers of the BRICS nations meet and agreed to mutual cooperation to helping reduce air and water pollution. As well as these agreements, the BRICS nations also vowed to more efficiently manage liquid, and solid waste. These countries also vowed to the conversation of ecological biodiversity. The environmental ministers of these countries called on the rest of the world to follow their example as to dealing with environmental issues facing our planet.

BRICS has an environmental interest

Environment and geographical location have an impact on climate which may indirectly drive international trade and business to preferred global locations.   BRICS understands that climate change is a serious concern.   

Serous enough that Union Environment Minister Anil Dave stated in a fall conference that “Sudden remedies for climate change are not possible. In the longer run, we see unpredictable changes in atmosphere, especially in the behavior of the sea, crop patterns.”  

He continued such that “I am happy to inform you that we have agreed that each and every water body or each and every river of the country must be preserved properly so that safe, clean drinking water should be available to the entire society.”

These words signify that BRICS is committed to establish a standard for innovations, knowledge sharing and capacity building of technical institutions and undertake ownership in areas environmental interest.  

 

BRICS to set up joint working group for environment issues:
http://www.thehindu.com/sci-tech/energy-and-environment/BRICS-to-set-up-joint-working-group-for-environment-issues/article14983770.ece

Elbrus CPUs are designed to replace Intel and AMD computer processors.  It has been reported that Russia is trying to challenge the US monopoly on the global IT market. However, Russia’s IT companies have not had a stellar performance so far.

To take on the Americans, the Russian Federation has formed BRICS ICT, an IT-oriented wing of BRICS, the association of five major emerging national economies, namely Brazil, Russia, India, China and South Africa.

I beg to wonder if that is why Intel decided a couple days ago to complete its $7 billion Chandler Arizona plant that is started in 2014...


https://financialtribune.com/articles/economy-sci-tech/57960/russia-to-sell-computer-processors-to-iran

Next week Chinese President Xi Jinping will be arriving in Switzerland to attend the World Economic Forum. He is also expected to meet with the United Nations Office in Geneva (UNOG) and the World Health Organization (WHO). He will be the first Chinese leader to meet with the UN.  The UN Director General Michael Moller said he is looking forward to increased cooperation with China on global challenges. He said social inequalities, climate change are some of the issues facing the world today, stating that the international community needs to show solidarity and work collectively to find solutions.
The Chinese government said Xi's attending would emphasize Beijing's support for multilateralism, which is a core concept of the founding ideal for the BRIC bloc. Global cooperation and free trade.



http://thebricspost.com/un-to-increase-cooperation-with-china/#.WJ2eLIWcHdc

The five ‘BRICS’ nations have a combined nominal Gross Domestic Product (GDP) of $16.6 trillion (US dollars), equivalent to approximately 22% of the gross world product.  The World Bank predicts BRICS growth to pick up 5.3% in 2017.  This is all inviting to investors and economists.

BRICS History and possible expansion

BRICS originally started as BRIC in 2001, with all the current countries except South Africa.

South Africa joined in 2010.  All members belong to the G20 or the major 20 economies of the world.

Potential for addition of new countries: Afghanistan, Indonesia, Turkey, Egypt, Iran, Nigeria, Sudan, Syria, Bangladesh, and Greece have all shown interest in joining BRICS.

Welcome to the new BRICS Blog. To give a little explanation of what the BRICS stands for it is an acronym for five major emerging economic countries.  Brazil, Russia, India, China and South Africa. Originally there where only four countries and in 2010 South Africa was added.
A few facts of the BRICS countries:
Combined they represent over 3.6 billion people.
They have a combined nominal GDP of $16.6 trillion which is roughly 22% of the gross World Product!
The growth in this area has been steady at 3.9% in 2015, 4.6% in 2016 and an expect growth of 5.3% in 2017.