Since South Africa joined the BRIC grouping (now BRICS) in 2010, numerous other countries have expressed interest in joining the bloc, including Argentina and Iran.
Submarine cable map 2017 pdf full#
In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member. The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership. South Africa officially became a member nation on 24 December 2010, after being formally invited by China to join and subsequently accepted by other BRIC countries.
In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year. In the aftermath of the Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency, which would have to be "diverse, stable and predictable." Although the statement that was released did not directly criticize the perceived "dominance" of the US dollar – something that Russia had criticized in the past – it did spark a fall in the value of the dollar against other major currencies. There was further discussion of ways that developing countries, such as 3/4 of the BRIC members, could become more involved in global affairs. The summit's focus was on improving the global economic situation and reforming financial institutions, and discussed how the four countries could better co-operate in the future. The BRIC grouping's 1st formal summit, also held in Yekaterinburg, commenced on 16 June 2009, with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India, and China, all attending. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.
Submarine cable map 2017 pdf series#
The foreign ministers of the initial four BRIC General states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN Assembly, beginning a series of high-level meetings. įor investing purposes, the list of emerging economies sometimes included South Africa, which expanded the acronym to BRICS or BRICK. It was introduced in the 2001 publication, Building Better Global Economic BRICs by then-chairman of Goldman Sachs Asset Management, Jim O'Neill the term was coined by Roopa Purushothaman, who was a research assistant in the original report. The term BRIC was originally developed in the context of foreign investment strategies. The BRICS have received both praise and criticism from numerous commentators. Since 2022, the group has sought to expand membership, with several developing countries expressing interest in joining.
The BRICS are considered the foremost geopolitical rival to the G7 bloc of leading advanced economies, announcing competing initiatives such as the New Development Bank, the Contingent Reserve Arrangement, the BRICS payment system, the BRICS Joint Statistical Publication and the BRICS basket reserve currency. Bilateral relations among the BRICS are conducted mainly on the basis of non-interference, equality, and mutual benefit.
Since 2009, they have increasingly formed into a more cohesive geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies China hosted the most recent 14th BRICS summit on 24 July 2022. The BRICS were originally identified for the purpose of highlighting investment opportunities and had not been a formal intergovernmental organization. All five states are members of the G20, with a combined nominal GDP of US$28.06 trillion (about 26.6% of the gross world product), a total GDP (PPP) of around US$56.65 trillion (32.5% of global GDP PPP), and an estimated US$4.46 trillion in combined foreign reserves (as of 2018). Brazil, Russia, India, and China are among the world's ten largest countries by population, area, and GDP (PPP), and the latter three are widely considered to be current or emerging superpowers. The BRICS have a combined area of 39,746,220 km 2 (15,346,100 sq mi) and an estimated total population of about 3.21 billion, or about 26.7% of the world's land surface and 41.5% of the global population. The original acronym " BRIC" (or "the BRICs") was coined in 2001 by Goldman Sachs economist Jim O'Neill, who created the term to describe fast-growing economies that would collectively dominate the global economy by 2050. BRICS, originally named BRIC ( Brazil, Russia, India, China), is an acronym for the world economies of Brazil, Russia, India and China, which in 2010 had included the letter S for South Africa.
0 kommentar(er)
