9th International Confrence on BRICS: Agenda for cooperation (BRICS)
|Event Date/Time: Dec 05, 2007||End Date/Time: Dec 07, 2007|
|Registration Date: Oct 15, 2007|
|Early Registration Date: Oct 15, 2007|
|Abstract Submission Date: Oct 15, 2007|
|Paper Submission Date: Oct 15, 2009|
In 2003 a Goldman-Sachs report argued that four BRIC countries Brazil, Russia, India, and China would emerge as dominant economies by 2050. While India and China would dominate world markets in services and manufacturing, Brazil and Russia would dominate in the supply of raw materials. The report projected these rapidly growing economies as attractive investment destinations. The latest Goldman-Sachs report emphasizes that this economic dominance would not translate into a proportionate increase in living standards, and per capita incomes in these countries would continue to remain well below those in the USA and EU. In the era of globalization, a closely related thesis is that of the BRICS (with S for South Africa) as a political alliance or a trading association, with a truly global presence, and enough clout to influence international trade accords. Such an alliance could ensure that the benefits of this projected success story reach the people in these countries, and are not siphoned off by unfavourable trade agreements or hot money invested from other parts of the world.
BRICS as a trading cooperative would be economically logical. Although each of these countries is large, their economic growth would bring them into competition with larger and wealthier economic blocs like the EU. The BRICS as a cooperative could succeed where individual countries might find the competition difficult. BRICS would be a partnership of equals who would bring complementary competencies to the table. For example, while India dominates services, most of the world manufacturing is shifting to China. Their energy demands. This demand could be met by supplies from Brazil and Russia in a secure way, if BRICS is realized as an agenda for cooperation. As another example, most diamond polishing takes place in India, while the roughs are typically sourced from South Africa, Brazil, and Russia. These examples can be multiplied.
However, BRICS as a group of cooperating nations would involve several novelties and challenges—for there is neither geographical proximity nor any cultural homogeneity. Can these challenges be overcome? Can an agenda for cooperation be evolved? This is the focal question around which this international conference is being organized.