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India will host the Fourth BRICS Summit in New Delhi March 29 [Copy link] 中文

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Post time 2012-3-20 03:24:50 |Display all floors
This post was edited by SMITHI at 2012-3-20 03:25

New Delhi, Feb.24 (ANI): India will host the Fourth BRICS Summit here on March 29 with the theme "BRICS Partnership for Global Stability, Security and Prosperity".

A Ministry of External Affairs release said the BRICS agenda has widened over the years to encompass issues of global governance and challenges before the world community such as climate change, food and energy security, sustainable development, the international financial crises and international terrorism.

It further said that the three summits, meetings of the Ministers of Foreign Affairs, Finance, Agriculture and Health and other sectoral meetings have helped to deepen cooperation between the BRICS countries.

It said that the New Delhi BRICS Summit aims to impart further momentum and depth as it takes the BRICS agenda forward in the contemporary context.

BRICS is a unique grouping of countries with the capacity and the political will to engage with the global community and contribute in a meaningful manner to global well-being, stability and growth.

Formalized at the first meeting of the foreign ministers of Brazil, Russia, India and China on the margins of the United Nations General Assembly in New York in September 2006, the group has come a long way in a relatively short span of time and has evolved mechanisms for consultation and cooperation in a variety of relevant sectors. South Africa joined the Group at the third Summit in Sanya, China in April 2011. (ANI)

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Post time 2012-3-20 17:25:10 |Display all floors
Investors choose BRICS
Pershkina Anastasiya, Yulia Ashcheulova

Mar 19, 2012

Photo: EPA

Moscow took the eighth place in the rating of cities most favorable for investment. London was rated number 1. The capitals of Brazil, China and India unexpectedly took top positions in the rating having squeezed out European cities.

The Investment agency of Grand Paris together with KPMG produced this rating of cities most popular with investors. It is based on the size of foreign investment in various city projects over the last two years. The result of the calculations surprised the experts. Only such international financial centers as London and New York managed to preserve high positions in the rating. The European cities were moved down by the cities from BRICS (Brazil, Russia, India, China and South Africa). Moscow showed the largest growth in investor popularity (60%) along with Brazil's Sao Paolo (160%). Such attitude is related to the economic growth BRICS countries are experiencing. Roman Andreyev, head of the Department of active operations of the Financial Standard Bank explains that based on the investment in one city one can judge about investing in the whole country.

«For example, it would be hard to judge about investment in Great Britain by London, or investment in China by Shanghais, because these cities are financial centers. Thus, their entire infrastructure is geared towards servicing such areas. But it does not mean that similar high investment goes into other regions.  And as far as such countries as Russia or Brazil go, here one can draw parallels and assume that if investment in one city goes up, same goes for the whole country. Moscow is a capital city first of all, and not a financial center.  And the investment that is done in Moscow, to some degree is spear over other regions of the country».

One must also point out that the rating was based not only based on the past success, but also accounted for the future. It reflects investors' expectations of how each city is going to develop, says Elena Turzhanskaya an analyst with «Kalita-Finance» group.

«This rating is based on the potential of countries and cities. If this potential is realized, investment will flow into the country and further quality development will follow. However, if no reforms are carried out, then the country’s potential will not be realized, and thus one might not see any investment inflow. Thus, these ratings are more oriented towards the future potential, and not towards the quality of human resources and the infrastructure in the cities».

Due to the growth of investor interest towards BRICS countries Europe can loose in the near future. It will be not just a matter of prestige. Many EU countries already experience deficit of foreign investment that could help them deal with the difficult financial situation. If investment goes elsewhere, the debt crisis in the Euro zone will only escalate.

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Post time 2012-3-20 23:18:24 |Display all floors
Hope they will reach consensus on how they coordinate power to end western occupation toward World Bank and IMF.

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Post time 2012-3-21 01:49:18 |Display all floors
liuyedao Post time: 2012-3-20 23:18
Hope they will reach consensus on how they coordinate power to end western occupation toward World B ...

Yes that is matter of urgency in light of BRICS increased contribution to IMF and world bank fund it is urgent to change structure of board so it represent it's shareholders from BRICS  proportional to contribution
you might a be interested in this one regarding same issue you raised Iluyedo:
BRICS bank next step to dollar independence

20 March, 2012

The ‘club’ of emerging economies known as the BRICS are strengthening their union. The countries are mulling over setting up a single development bank to promote joint investment initiatives, as well as their domestic currencies.
Brazil, Russia, India, China and South Africa are set to discuss the idea at the coming BRICS meeting in New Delhi on March 29, Financial Times says.
This is mainly to get a louder say in international arena for the“great reserves,” Ivan Tchakarov, chief economist for Russia and CIS countries at Renaissance Capital, told Business RT. “All of these  economies, in particular China, Russia and Brazil and less so India are the countries that are not only growing at a significantly faster pace than the developed economies, but they also have a lot of reserves,” he said.
China currently possesses the biggest foreign exchange reserves in the world, standing at $3.2 trillion. This compares with Russia’s $505.4bln and $355.1bln in Brazil, which ranks them the 4th and the 6th on the list.
The setting up of such an international financial institution will pave the way for a bigger voting for the BRICS countries in international bodies such as the IMF and the World Bank, Tchakarov added.
In terms of priority, infrastructure projects would most benefit all the BRIC members, as it remains well below the world standards in all of the states, Tchakarov said.
The move comes after media reports were saying Brazil, Russia, India, China and South Africa were seeking distance themselves from the US dollar. Mutual credits in so-called “intro BRICS currencies” through such a bank for development could really help them“elevate their international status.”
And“probably the Chinese Yuan has the biggest chances of achieving that,” the Renaissance Capital expert says.
In fact, the BRICS countries have already started to promote their domestic currencies within the area, as the Russian rouble has already started to be traded in Beijing, with the Yuan started to be traded in the Russian stock exchange, Tchakarov reminded.

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Post time 2012-3-21 23:53:02 |Display all floors
SMITHI Post time: 2012-3-21 01:49
Yes that is matter of urgency in light of BRICS increased contribution to IMF and world bank fund ...

I just worried that the US will do everything to prevent countries dumping dollar.

Yanks maybe will consider their "humanitarian bombing" toward those countries.

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Post time 2012-3-22 03:23:09 |Display all floors
liuyedao Post time: 2012-3-21 23:53
I just worried that the US will do everything to prevent countries dumping dollar.

Yanks maybe wi ...

they could pull black rabbit from the hat but chances of stooping wheel of history toward Asian century are very slim.

too late i think.

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