Date post: | 14-Nov-2014 |
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Presented By –
1. Pappu Kumar
2. Rishabh
Pandey
3. Rachna
The foreign ministers of the initial four BRIC countries (Brazil, Russia, India, and China) met in New York City in September 2006, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 May 2008.
Entry of South Africa
In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.South Africa officially became a member nation on 24 December 2010, after being formally invited by the BRIC countries to join the group. The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership. In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.
KEYADVANTAGES
One of the fastest growing economies in last century.
Brazilian economy becoming less dependent on exports.
Extremely rich in resources such as coffee, sugarcane,iron and crude oil etc.
CHALLENGES FOR THE FUTURE
Overburdended and ineffective judicial system.
Industrial output is weak.
Russia
KEYADVANTAGES
Russia has capability in high-techonology sectors
Accounts for around 20% of the world’s oil and gas reserves
Fall in the number of people living below the poverty line
CHALLENGES FOR THE FUTURE
Labor shortages and poorly developed infrastructure
Corruption
KEYADVANTAGES
1.15 billion people
2nd largest labor force
Approximately 205 million college graduates per year
CHALLENGES FOR THE FUTURE
Improving basic educational achievment
Improving infrastructure and electrical capacityExpanding technology industry
KEYADVANTAGES
Broad expansion of educational achievment
Rapid economic growth
Third largest country in land size
CHALLENGES FOR THE FUTURE
Support to rural areas and less-developed regions.
Bank of china sees inflation as a bigger risk.
Need to improvr the investment
KEYADVANTAGES
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
CHALLENGES
The economy is growing but not fast enough
Lack of skills, particularly in IT.
48% of the population is living below the poverty line.
BRICS Countries Statistics
Brazil, Russia, India, China and South Africa
BRICS Countries make up approximately 40% of the worlds population.
BRICS control 25.9% of the total geographic area of the world.
BRICS make up 25% of the global GDP.
BRICS currencies Could Appreciate by 300% by 2050.
BRICS holds 3.93 trillion in foreign reserves.
The rising middle class in these countries has increased their purchasing power.
The GDP growth rates for BRIC countries are much higher than in developed countries markets.
By 2050, three of the largest four economies will be from Asia.
Opportunities for BRICS Countries
High growth rates
Increased foreign direct investment
Investment in infrastructure
Growing middle class boosts demand
Large supply of educated cheap workforce
High potential for supply of outscore work
Abundant agricultural/mineral resources
Rapid expansion of commodity markets
Business confidence
Challenges of BRICS Countries
Volatile markets
Unstable economies
Geographic locations where natural disasters happen
Export driven economies
Weak Infrastructure
Energy concerns
Shortage of skilled workers areas