...Challenges of BRICS Despite the successes and opportunities outlined above there are some inevitable challenges that every organization has to face, be it regional, continental or global and BRICS is no exception. It must also be pointed out that, the challenges and or failures that BRICS face are celebrated by their rivals like the G7 and United States of America in particular. This is because in their efforts to maintain world governance, these organizations are also driven by their ambitions on the international front as influential global players. It is however, difficult to point the exact failures and challenges of BRICS because it is still at its infant years and does not have a charter where reference could be made to ascertain challenges and accomplishments. Some of the challenges discussed herein were noted by scholars during the IBSA dialogue era and continue to defy the mandate of BRICS to date. To start with, the challenge that is common to all three countries of IBSA Dialogue forum is that none of them are clearly identified and respected to the fullas regional representatives. For instance, South Africa is challenged by Nigeria, Egypt and others (Sotero, 2009). However, for a state to be regionally and globally recognized, it first needs to be viewed as dominant by its neighbours before anything else otherwise it becomes a toothless dog. Of course to the southern part of Africa, South Africa is a force to be envied, but this is not the case beyond the equator...
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...India-Russia Relations Relations with Russia are a key pillar of India's foreign policy and Russia has been a longstanding time-tested partner of India. Since the signing of “Declaration on the India-Russia Strategic Partnership” in October 2000 (during the visit of President Vladimir Putin to India), India-Russia ties have acquired a qualitatively new character with enhanced levels of cooperation in almost all areas of the bilateral relationship including political, security, trade and economy, defense, science and technology and culture. Under the Strategic Partnership, several institutionalized dialogue mechanisms operate at both political and official levels to ensure regular interaction and follow up on cooperation activities. During the visit of Russian President to India in December 2010, the Strategic Partnership was elevated to the level of a “Special and Privileged Strategic Partnership”. Political Relations: Annual Summit meeting between the Prime Minister of India and the President of the Russian Federation is the highest institutionalized dialogue mechanism under the Strategic Partnership between India and the Russian Federation. So far 14th Annual Summit meetings have taken place alternatively in India and Russia. The last (14th) Annual Summit was held in Moscow on 21 October 2013 when PM Dr. Manmohan Singh visited Moscow and had a meeting with President Putin. A Joint Statement “Deepening the Strategic Partnership for Global Peace and Stability” was adopted during...
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....................... 9 3 The Russian Federation................................................................................. 10 3.1 General information on the Russian Federation ................................... 10 3.2 Russia’s connection with the European Union...................................... 11 3.3 Russia’s financial situation.................................................................... 12 3.4 Russia’s imports and exports................................................................ 13 3.5 Russia’s leading companies ................................................................. 14 3.6 Conclusion ............................................................................................ 16 4 The Republic of India...
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... THREAT TO PROSPERITY Biyash Chakraborty MBA- International Business Email: chakraborty.biyash93@gmail.com University of Petroleum and Energy Studies, Dehradun. (Uttarakhand), INDIA __________________________________________________________________________ Abstract India’s rapid economic growth has made it the second fastest growing energy market in the world. Its domestic and international strategies has produced foreign policy differences with the United States that will require careful management on both sides. India’s basic approach to energy diplomacy has been to develop its supply potential and neutralize its potential competitors, principally China. India’s strategic interest in Iran as its energy partner and then the Iraq crisis are having a negative consequence on its economic prosperity, placing it on crossroads with the US. There is a divide between US and EU about the wisdom and desirability of imposing harsh economic sanctions on Russia. In any such confrontation, EU stands to lose much more than the US, though it can be argued that Russia will be the worst loser. In future, Russia may try to find new potential market for its gas and that could be India. So it is important for India to take its stand on Ukraine crisis carefully without tarnishing its relation with USA. India’s long-term prosperity hinges to some degree on a conflict free neighborhood; that an economically integrated region is in India’s overall security interests. Keywords: oil crisis...
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...National Defence University, Islamabad Faculty of Contemporary Studies International Relations Department Research Paper SIGNIFICANCE OF PAK-RUSSIA RELATIONS: FOREIGN POLICY OPTIONS FOR PAKISTAN By: Arshad Mahmood, M.Phil (IR), NDU, Islamabad 20 November 2012 Submitted to: Dr Shaheen Akhtar Associate Professor Department of International Relations NDU, Islamabad SIGNIFICANCE OF PAK-RUSSIA RELATIONS: FOREIGN POLICY OPTIONS FOR PAKISTAN ABSTRACT Pak-Russia relations, viewing from a realist perspective, have not been built upon strong pillars of understanding each other’s interests and concerns which are most essential for establishing enduring bilateral ties. The history of their bilateral relations is simply a tale of misperception and misunderstandings. Both the nations despite having convergence of interests on various bilateral, regional and international issues and immense potentials in cooperation have never availed opportunities. In fact both, Pakistan and Russia had viewed each other through the prism of other states and with wrong perceptions. The changing international environment and internal and regional political dynamics of both the states have now provided another chance their elites to revisit their bilateral relations and lay down a foundation for a prosperous future. SECTION-1 INTRODUCTION Background 1. On 26 December 1991 the world witnessed the collapse of the first and the largest communist country - the Union of Soviet...
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...amount of attention and funds they received from the West chiefly from Punjab ruled government. Yet at the same time they complained about the West having a hand in the 1 Shrivastava, Sanskar. "1971 India Pakistan War: Role of Russia, China, America and Britain." – The World Reporter. 30 Oct. 2011. Web. 9 Sept. 2015. management of the export quality material in East Pakistan. They even caused the conflict of the national language, not accepting Urdu as the one. In fine, the Bengalis were less than unhappy that the newly elected leader of Pakistan Sheikh Mujibur Rahman apparently so,wasn’t given as much power as he, an administrator, should have. To stop any further fuel being added to this act, the Pak Army was sent in. Alas, it is reported though, that the army was involved in both killings of innocent and rape of women. In trying to stop a civil war from breaking out, Pakistan became the main focus of the peril that was the war of 1971 between Pakistan and India who were aware of the severe situation in Pakistan, lying in wait to take advantage. It not only cost us the lives of many patriots but also resulted in territorial loss the new found state at that time, Bangladesh. Refugees started rushing to India in masses which was exaggerated by India to the United Nations thus attracting the attention of many countries who were also inadvertently forced to intervene in order to ensure the...
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...Does increasing economic and trade relations with emerging economies have any consequences for immigration systems in Canada? This topic and interview were based on a research project that the interviewer was working on. The emerging economies in question were Brazil, Russia, Indian, China, Turkey and Indonesia. The study endeavoured to look into current and past multilateral collaborations on migration between Canada and these countries. The specific areas of concern were labour, tourism, business, students, family, security, asylum, irregular migration and the specific policies in these areas. In Canada, immigration is a major societal nation-building exercise. Apart from Aboriginals the rest of the population arrived in Canada through immigration at one point or the other. Immigration policies are in tandem with social and economic goals of the country. The fundamental issue is to ensure immigration works to Canada’s advantage. Before and after 2006 the emphasis was on the economic side of immigration: education, language and skills that made immigrants ready for the job market. Canadian citizens support immigration policies. Before 1950, policies favoured European immigrants. Later, individuals who wanted to settle permanently in Canada were targeted. Currently, there is no discrimination on nationality. Asians, especially those from India and China contribute the largest number of immigrants. Temporary immigration involves visitors, international students and temporary...
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...My first encounter with Russia and Eastern Europe… Going down my memory lane I remember when I first heard speculation about eastern Europe or Russia was in the year 2002.i was in the 2nd grade at that point of time.I was trying to get the world map on a jig-saw puzzle, that day I realized that Russia the most largest country. Just to ensure my assumption I asked my dad about it, and he went on telling me about Russia and issues related to it. He told me how Russia was targeted by hitler so as to avenge the first world war. It was only that time when I realized that Russia had really awful history. On questioning my dad as why did India didn’t show any concern for Russia during WW II and post war? He answered to me – during the 2nd world war period, Gandhi had straight away made it clear to the colonizers that India wouldn’t take part in the war. At that time Gandhi was responsible and was holding the mass movement against the colonizers, so he took the decision of not taking part in the world war. This was because India opposed the colonial power and the dictatorship of Adolf Hitler. Post war it happened that, the then prime minister of India Jawaharlal Nehru along with the leaders of 2 other countries started this non alignment movement i.e. india won’t support neither the capitalist(America) nor the socialist(USSR) country. This was something very diplomatic step of Nehru and resulted for good relation with both countries. So this is what I could get about the eastern...
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...FY10 Results Review – Analyst Meet 27th May, 2010 INVESTOR RELATIONS Statements in this presentation describing the Company’s objectives, projections, estimates, expectations may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand / supply and price conditions in the domestic and overseas markets in which the Company operates, changes in Government regulations, tax laws and other statutes and incidental factors INVESTOR RELATIONS Internal Actions And External Market Improvement Drives Performance Consolidated P&L Rs Crores Net Revenue EBITDA EBITDA margin PBT PAT Cash Profit Automotive Net Debt (Rs Crs) Automotive D / E FY09 70,881 2,196 3.1% (2,129) (2,505) 1,065 23,750 4.0 FY10 92,519 8,614 9.3% 3,523 2,571 8,168 18,800 2.05 %change 30.5% 292% 620 bps NM NM 667% The Board of Directors has recommended a dividend of Rs.15/- per Ordinary share and Rs.15.5/- per ‘A’ Ordinary share each for the financial year 2009-10 INVESTOR RELATIONS Internal Actions Accelerated cost reduction measures Improved our pricing discipline Aligned production with demand and strict control of Inventory Continued our strict cash flow management Reduced non-personnel related overhead costs VA / VE measures Pursued Long term plans ...
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...combination of Brazil, Russia, India, and China which make up over 42% of the world's population. These nations are going to play a major role in the future of global economy. BRIC or BRICs are terms used in economics to refer to the combination of Brazil, Russia, India, and China. General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Goldman Sachs argues that the economic potential of Brazil, Russia, India, and China is such that they may become among the four most dominant economies by the year 2050. The thesis was proposed by Jim O'Neill, global economist at Goldman Sachs. These countries are forecast to encompass over thirty-nine percent of the world's population. Goldman Sachs predicts China and India, respectively, to be the dominant global suppliers of manufactured goods and services while Brazil and Russia would become similarly dominant as suppliers of raw materials. Cooperation is thus hypothesized to be a logical next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China. Thus, the BRICs have the potential to form a powerful economic bloc to the exclusion of the modern-day G8 status. Brazil is dominant in soy and iron ore while Russia has enormous supplies of...
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...Is Russia a suitable home market for TCL? How does it compare to other emerging markets? Yes because… * New MNE expected to enter Russia on its accession to the WTO (TCL seeked to grow revenues from the enterprise segment, with stickier relationships and better margins.) * highlights commitment to extend global footprint into the emerging markets(1) Emerging market focus: Sought to position itself as the go-to provider of services when large companies sought to expand in the emerging market regions. * TLC can offer latest technology and no legacy systems to the country, it has good and modern infrastructure. (Since TCL’s infrastructure had been built in the 21st century, it could offer customers latest technologies (no legacy systems) * GDP growth 4% vs 5.5 % Telecom industry * Gravity model 2011 US billion (GDP) | Distance (kms) | India : 1887 | India/Russia : 4986 ; India/Bra:14775; India/Indone : 4485 | Russia: 1857 | T(IR)= 702.7996 | Brazil : 2474 | T (IB) = 315.9687 | Indonesia : 846 | T (II)=355.9424 | | | No because * Biggest territorial extension. Negative fact because of Telecom reachability. TLC lacks deep-in country infrastructure, making the company less competitive for networks requiring many sites in each country. Because of Russia’s extension and current infrastructure, TLC needs to consider additional investment CAPEX to target untapped international connectivity market through fiber network. * Russia...
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...geopolitical clout” BRICS is the title of an association of leading emerging economies, arising out of the inclusion of South Africa into the BRIC group in 2010. As of 2012, the group's five members are Brazil, Russia, India, China and South Africa. With the possible exception of Russia, the BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2012, the five BRICS countries represent almost 3 billion people, with a combined nominal GDP of US$13.7 trillion, and an estimated US$4 trillion in combined foreign reserves Presently, India holds the chair of the BRICS group. Due to steady growth in BRICS nations in the recent past their share in global output has grown from 11% in 2005 to 18% in 2010. President of the People's Republic of China Hu Jintao has described the BRICS countries as defenders and promoters of developing countries and a force for world peace. The BRIC grouping's first formal summit commenced in Yekaterinburg on June 16, 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. In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.[14] South Africa officially became a member nation on December 24, 2010, after being...
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...considerable populations. China alone holds a fifth of the world’s population, and is closely followed by India (17.5%) and, by a larger gap Brazil (2.9%) and Russia (2.2%). Despite their large territories – Russia’s 17 million km2, India’s 3.2 million km2, China’s 9.3 million km2 and Brazil’s 8.5 million km2 –, the Brics differ from each other in terms of natural resources, level of industrialization and impact on the global economy. It is important to point out these differences, as definition as a bloc might lead to wrongful assumptions about the four countries’ individual current and future roles in the global economy. In order to be accurate about each country’s actual weight in the world, we should perhaps change the acronym to CIRB (but without the glamour of the name). Let us begin with China, which is the most continuous civilization in history – not strictly in terms of political linearity but rather in terms of cultural continuity. The country has a tragic contemporary history, marked by economic decadence, political instability, military humiliation and social regression caused by a deep degradation of the social fabric after Mao Zedong’s economic follies created a human hecatomb and a demographic “gap” of tens of millions of people. India is the world’s second oldest “continuous” civilization – the inverted commas are to highlight the country’s cultural and ethnic diversity. India has no cultural unity as such, and its political history only seems to make sense when we look...
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...intelligence they had to gain power bringing sorrow, misery and a lot of times death for many people. Mark Twain (1896) stated that ‘History doesn't repeat itself, but it does rhyme’. As mentioned by Rickards (2012), ‘Petty tyrants as well as dictators are vulnerable to a belief in their own invulnerability’. What is the United Nations doing to become Putin vulnerable? Waiting a worst case scenario? What is going to happen in the future? Are we going to have a World War 3? Germany and France trying to protect Russia It was obvious that Russia supported the separatist militants in the region, while on the other hand it was trying to deny this support. At the same time, the Russians joined Germany and France in a diplomatic effort to promote a political agreement within Ukraine that takes into account the interests of Russia. Expanding relations with BRIC countries Putin, on the other hand, expanded its relations with China, gaining moral support from other BRIC countries (Brazil, India, China, South Africa) and also strengthening old and making new friends in Latin America. My Personal Learning with Putin’s Style of Leadership In business life, as mentioned by Rickards (2012), leaders are focused to achieve economic goals and unethical behavior happen if businesses are economically disadvantaged for executives. Putin has its objectives cleared in his mind, and to achieve them he uses the tactics of common enemies (Diamond, 2012). Putin knows the importance of having allies at his...
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...In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. It is typically rendered as "the BRICs" or "the BRIC countries" or "the BRIC economies" or alternatively as the "Big Four". The acronym was coined by Jim O'Neill in a 2001 paper entitled "Building Better Global Economic BRICs".[1][2][3] The acronym has come into widespread use as a symbol of the shift in global economic power away from the developed G7 economies towards the developing world. It is estimated that BRIC economies will overtake G7 economies by 2027.[4] According to a paper published in 2005, Mexico and South Korea were the only other countries comparable to the BRICs, but their economies were excluded initially because they were considered already more developed, as they were already members of the OECD.[5] The same creator of the term "BRICS" coined the term MIKT, that includes Mexico and (South) Korea. Several of the more developed of the N-11 countries, in particular Turkey, Mexico, Indonesia and Nigeria, are seen as the most likely contenders to the BRICs. Some other developing countries that have not yet reached the N-11 economic level, such as South Africa, aspire to BRIC status. Economists at the Reuters 2011 Investment Outlook Summit, held on 6–7 December 2010, dismissed the notion of South Africa joining BRIC.[6] Jim O'Neill told the summit that he was constantly...
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