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INTERNATIONAL BUSINESS

ECONOMICS
ASSIGNMENT ON BRICS
“B” BRAZIL
“R”RUSSIA
“I”INDIA
“C”CHINA
“S”SOUTH AFRICA
Present by
GOVARDHAN
R.NO:51
DILEEP KUMAR
R.NO:72
INTRODUCTION TO BRICS
 BRICS came ino existence in the year 2001 as
BRICSNATIONS
 BRICS is International political organization of leading
emerging economics its 5 members are all developing
industrialized countries
 Biggest and fastest growing emerging economies
 Term BRICS was first prominently used in a Goldman Sachs
report from 2003
 Jim o’neill, chairman of Goldman sachs asset management,
coined the term in 2001
 With the entrance off South Africa in the third BRICS
summit in April 2011
 BRIC became BRICS with capital
 BRICS forum was formed in 2011 and it is an international
organization that works for a structured social, economics
and environmentally sustainable BRICS block

OBJECTIVES
 To achieve regional development
 To remove trade barriers
 Economics development
 Optimum use of resources
 Building relationship
Focus of BRICS forum

 Establish a development bank to balance the influence of


the world bank IMF as well as creating a joint foreign
exchange
 Health care
 Trade
 Innovation in building infrastructure
 Investment land scape
 Private structure and prevention of corruption
 Poverty
 Science and technology
 Business

BRAZIL
 One of the fastest growing economic
 Brazilian economy becoming less dependent on exports
 Extermely rich in resources such as coffee sugarcane iron
etc

RUSSIA
 It has capable high technology sectors
 Accounts for 20% of worlds oil gas reserves
 Fall in the number of peoples living the below poverty lines

INDIA
 Access to financing
 Restrictive labour regulation
 Corruption

CHINA
 Broad expansion of educational achievement
 Rapid economic growth
 Third largest country in land

SOUTH AFRICA
 23RD largest economy in world
 Inflation is now below 5% and falling
 25% of goods producing in south Africa and export
BRICS DEVELOPMENT BANK
 Meeting the development needs in BRICS and other
emerging economics and development countries
 DEVELOPMENT NEEDS OF EMERGING DEVELOPMENT

ECONOMIES
 Meeting the basic needs
 In any economy focus on education healthe care food
security and ensuring a minimum standard of living to
citizens

INFRASTRUCTURE
 Its refers to services and facilities and necessary for
economy
 To function smoothly such facilities
 Like schools hospitals roads telecommunication etc.
RESEARCH AND DEVELOPMENTOF CLEANER
TECHNOLOGIES
 As we all know most development countries have there
energy needs met by non renewable resources
 It must find alternative sourcing in the form of
cleanertechnology which causes less degradation to
environment

TRADE RELATION BETWEEN CHINA AND


SOUTH AFRICA
History
 officially non-existent and unofficially antagonistic.

 On October, 1st 1996, the National Day of the People's


Republic of South Africa relations between the two
countries were China, Nelson Mandela sent a
congratulation message to Jiang Zemin, President of the
PRC.November 27, he said that it supported a Greater
China, including PRC and ROC
 In 1992, trade between China and South Africa amounted
to US$14 million, but by the time the two countries had
established relations in 1998, this had swelled to US$1.4
billion.
 By 2010 trade between the two countries had increased to
US$25.6 billion with imports from South Africa reaching
US$14.8 billion.
 Cross country investment had grown to US$7 billion in the
same year. Most South African exports to China in 2010
were primary products.
 In December 2010, South Africa was invited to join China
in BRICS group of emerging economies
 With the invitation, it was expected that South Africa
would expand its trade relations with other BRIC
countries, including China.
 Some see the BRICS relationship as potentially competing
with South Africa's relations with the IBSA Dialogue Forum
]

 In July 2010, the South African publication Business Day


reported that 45% of SABMiller's growth would come from
its China operations by 2014. The anomalous growth of
South African media company Naspers in 2009 was largely
owed to its stake in the Chinese company Tencent]
 resources cooperation; and financial cooperation.
 As of 2015/16 there were over 140 medium-sized or large
Chinese companies in South Africa with a combined
investment of US$13 billion, employing around 30,000
South Africans.
 Significant investments by Chinese firms in South Africa
include the China First Automotive assembly plant in
Coega Industrial Park, a Hisense Group white goods
factory, and a Hebei Jidong Development Group cement
plant.
 Increasingly the South African government, inspired by
China's success in reducing poverty and promoting
economic growth, is looking to China for policy ideas and
inspiration in its efforts at promoting growth.
Chinese development finance to South Africa

 From 2000 to 2011, there are approximately 37 Chinese


official development finance projects identified in South
Africa through various media reports.
 These projects range from a financial cooperation
agreement worth of $2.5 US billion between the
Development Bank of South Africa and the China
Development Bank,to an investment of $877 million by
China's state-owned miner Jinchuan and China
Development Bank in South Africa's platinum industry,
and an investment of $250 million USD by China's
Huaqiang Holdings in a theme park in Johannesburg.