BRICS aspectos positivos para paises del sur (inglés)

The term BRICS ( Brazil, Russia , China , India and South Africa - added in 2010) was coined by Goldman Sachs in 2001. They are considered emerging economies with great potential , which may become among the dominant economies by mid-century . They are also countries that are characterized by being among the largest and more populous, the BRIC account for slightly more than 40% of the world population , about 25 % of the world's land surface. They are also rich in natural resources and its gross domestic product constitutes 20 % of world GDP

After this report, relations between the BRICS´s countries strengthened, and a series of formal meetings to mark common objectives were made. In the conferences helded by this group, some of the most important points to be addressed were:

1. Develop a joint venture to adopt a uniform approach to the major international organizations, such as the development agendas after 2015 position, climate change and reform of the International Monetary Fund to increase the role of emerging market economies and nations on process of development.

2. Make progress for the new Development Bank and the provision of emergency reserve. Leaders must draw a blueprint for trade and economic cooperation in the coming years with the approval of the strategy Economic Partnership BRICS.

3. The summit will strengthen dialogue and cooperation with other nations and multidimensional exchanges with institutions such as the Shanghai Cooperation Organisation and the Eurasian Economic Union.

The BRICS began to exert greater political and economic power, strengthening relationships, making treaties, etc.

With regard to the coordination of BRICS in international forums and organizations, the mechanism favors economic, financial and political governance. Economically, the BRICS agenda prioritizes coordination within the G20, including reform of the IMF. On the political front, the BRICS advocates reform of the United Nations and its Security Council in order to improve their representation in favor of the democratization of international governance. At the same time, the BRICS deepen their dialogue on the major issues of the international agenda.

More specifically , there are two very promissing areas for the BRICS´s development, wich are the economic and financial cooperation. Like the agreements for the establishment of their New Development Bank (NBD), which will financial support for infrastructure projects and sustainable development in emerging markets and developing countries and the Contingent Reserve (ACR) Agreement intended to provide mutual support for members of the BRICS in scenarios of fluctuations in the balance of payments.

Which provides a solution to those like Nicholas Stern and Stiglitz [ both former economists - World Bank chief ] about the need for a new development bank that responds to the enormous needs of emerging countries in infrastructure

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