BY THE END OF THIS VIDEO YOU WILL KNOW ABOUT BRICS Leaders Xiamen Declaration complete analysis From Doklam to Xiamen BRICS-PLUS? The future of BRICS
ABOUT BRICS 2017 3 day summit 5 guests were Invited by China - Egypt, Mexico, Thailand, Tajikistan and Guinea The theme of the summit was Stronger Partnership for brighter Future Venue - Xiamen
XIAMEN
GUEST NATIONS Egypt capital is Cairo President Abdel Fattah el-sisi Mexico - Capital is Mexico City President Enrique Peña Nieto Thailand Capital is Bangkok - Tajikistan Capital is Dushanbe President Emomali Rahmon Guinea Capital Conakry President Alpha Condé
BRICS NATIONS
BRICS DECLERATION - TERRORISM We strongly condemn terrorist attacks resulting in death to innocent Afghan nationals. We support the efforts of the Afghan National Defense and Security Forces in fighting terrorist organizations. We deplore all terrorist attacks worldwide, including attacks in BRICS countries, and condemn terrorism in all its forms & manifestations wherever committed & by whomsoever & stress that there can be no justification. We express concern on the security situation in the region and violence caused by the Taliban, ISIL/DAISH, Al-Qaida and & its affiliates including the Haqqani network, Lashkar-e-Taiba, Jaish-e- Mohammad, TTP & Hizb ut-tahrir
CONTRADICTION Masood Azhar is the founder and leader of the UN-designated terrorist group Jaish-e-Mohammed, active mainly in the Pakistani administered Azad Kashmir. The Chinese government blocked a UN Security Council Sanctions Committee listing of Azhar as a terrorist, thwarting international efforts to disrupt the activities of his group.
BAD TIMES FOR PAKISTAN Pakistan finds itself increasingly isolated on the world stage, especially after being repeatedly criticised for offering a safe haven to terrorists by the Donald Trump administration in Washington. We deplore all terrorist attacks worldwide, including attacks in BRICS countries, and condemn terrorism in all its forms and manifestations wherever committed and by whomsoever and stress that there can be no justification whatsoever for any act of terrorism. We reaffirm that those responsible for committing, organizing, or supporting terrorist acts must be held accountable.
ON NORTH KOREA We strongly deplore the nuclear test conducted by the DPRK(Democratic People's Republic of Korea). We express deep concern over the ongoing tension and prolonged nuclear issue on the Korean Peninsula, and emphasize that it should only be settled through peaceful means and direct dialogue of all the parties concerned. (North Korea recently tested a Hydrogen bomb)
BRICS DECLERATION - CLIMATE CHANGE We commit to further promote green development and low-carbon economy, in the context of sustainable development and poverty eradication, enhance BRICS cooperation on climate change and expand green financing. We call upon all countries to fully implement the Paris Agreement adopted under the principles of the United Nations Framework Convention on Climate Change (UNFCCC) including the principles of common but differentiated responsibilities and respective capabilities, and urge developed countries to provide financial, technological and capacity-building support to developing countries to enhance their capability in mitigation and adaptation.
BRICS RATING AGENCY? Cooperation Memorandum Relating to Credit Ratings Under BRICS Interbank Cooperation Mechanism Modi called for the creation of a BRICS rating agency to cater to financing needs of sovereign and corporate entities of developing countries.
WHAT ARE CREDIT RATING AGENCIES?
NEW DEVELOPMENT BANK AFRICA REGIONAL CENTER We welcome the establishment of the NDB Africa Regional Center launched in South Africa, which is the first regional office of the Bank. We welcome the setting up of the Project Preparation Fund and the approval of the 2nd batch of projects. We encourage the NDB to fully leverage its role and enhance cooperation with multilateral development institutions including the World Bank and the Asian Infrastructure Investment Bank as well as with the BRICS Business Council
NEW DEVELOPMENT BANK Headquarters - Shanghai, China President - K.V. Kamath The first regional office of the NDB will be opened in Johannesburg, South Africa. In July 2014, Nobel Prize winning economist Joseph Stiglitz said the NDB marks a "fundamental change in global economic and political power."
THE NEXT BRICS SUMMIT China, Brazil, Russia and India extend full support for South Africa in hosting the Tenth BRICS Summit in 2018. South Africa officially became a member nation on 24 December 2010, after being formally invited by the BRIC countries to join the group.
TRADE PACTS Brics nations sign four pacts to boost economic and trade cooperation According to IMF s estimates, Brics countries generated 22.53% of the world GDP in 2015 and has contributed more than 50% of the world economic growth during the last 10 years.
TRADE PACTS Four documents were signed at the BRICS leaders meeting in the Chinese city of Xiamen. They are: 1. BRICS action agenda on economic and trade cooperation 2. BRICS action plan for innovation cooperation (2017-2020) 3. Strategic framework of BRICS customs cooperation 4. Memorandum of understanding between the BRICS Business Council and the New Development Bank on strategic cooperation.
THE CONCEPT OF BRICS-PLUS Back in 2001, former Goldman Sachs chief economist Jim O Neill coined the acronym BRIC to refer to the major emerging economy countries of Brazil, Russia, India and China, which, with the addition of South Africa a decade later, were regarded as the next global economic powerhouses. But with Russia and Brazil struggling in recent years, as O Neill himself noted, the grouping came to seem outdated (some, of course, were always skeptics). In 2015, Goldman Sachs even shut down its BRICS investment fund after years of losses, marking what Bloomberg called the end of an era.
BRICS GROWTH
The BRICS Plus plan is one of Xi Jinping s latest attempts to take on a more assertive role on the global stage, as the US turns inward under president Donald Trump s America First policies. Some countries have become more inward-looking, and their desire to participate in global development cooperation has decreased, Xi was quoted
Giving a keynote speech at the Sept. 3 opening ceremony, Xi said: We should promote the BRICS Plus cooperation approach and build an open and diversified network of development partnerships to get more emerging market and developing countries involved in our concerted endeavors for cooperation and mutual benefits.
FROM DOKLAM TO XIAMEN BRICS now faces its most challenging summit, not because of the West or the developed world, but because of growing differences between its two biggest members, India and China. Beyond the bilateral issues over the boundary, Nuclear Suppliers Group membership for India, terrorism, the Dalai Lama and others, the rift over China s Belt and Road Initiative (BRI) are all major issues
XI S INTENTIONS Chinese President Xi Jinping told Prime Minister Narendra Modi during an hour-long bilateral meeting on Tuesday that he was desirous of putting China's relationship with India "on the right track Xi also told Modi that Beijing is prepared to work with Delhi "to seek guidance from Panchsheel", or the five principles of co-existence
THE CHINESE PRESIDENT'S REFERENCE TO PANCHSHEEL, WAS TO THE 1954 PACT BETWEEN CHINA AND INDIA. According to the pact, called the Panchsheel Pact, the five principles of co-existence are: Mutual respect for each other's territorial integrity and sovereignty, Mutual non-aggression, Mutual non-interference in each other's internal affairs, Equality and cooperation for mutual benefit and Peaceful co-existence.
FUTURE OF BRICS Russia, Brazil and South Africa need to improve growth rate There are predictions that the worst in oil prices is past. There will be likely increase in oil prices which would lead to improvement in Russian economy. Free Trade among BRICS? India and most BRICS countries are not enthusiastic about the idea of free trade because that will only benefit China. Another standoff like Doklam can damage BRICS