The sixth BRICS Summit which has just ended in Brazil marks the transition of a grouping based hitherto on shared concerns to one based on shared interests.
While this week's BRICS summit might have been off the radar of Western powers, the leaders of its five member countries launched a financial system to rival Bretton Woods institutions and held an unprecedented meeting with the governments of South America.
The creation of BRICS’ (Brazil, Russia, India, China and South Africa) own financial institutions was “a disappointment” for activists from the five countries, meeting in this northeastern Brazilian city after the group’s leaders concluded their sixth annual summit here.
The Sixth BRICS Summit which ended Wednesday in Fortaleza, Brazil, attracted more attention than any other such gathering in the alliance’s short history, and not just from its own members – Brazil, Russia, India, China and South Africa.
The growing vitality of the group of countries made up of Brazil, Russia, India, China and South Africa (BRICS), which is beginning to formalise its institutions even as it tries to bridge very disparate realities, seems to be partly cemented by increasing links between its companies.
The FIFA World Cup being played in Brazil has sounded a warning for organisations fighting exploitation of children and adolescents, during an event that has attracted 3.7 million tourists to the 12 host cities.
The seven-year-old got bored after running here and there for five minutes, amidst a group of a dozen classmates. He eventually stomped off the field because he hadn’t managed to kick the ball even once.
It is unlikely that Brazilians will listen to the audacious call made by Michel Platini – a great player in his time and now the politicking president of the Union of European Football Associations (UEFA) – on Apr. 26: “Brazil, make an effort for a month, calm down!”
It seemed like “a good deal” at the time, but then things changed. That description of the 2006 purchase of a U.S. refinery, one of the oil industry scandals hanging over the Brazilian government’s head, could also apply to attitudes towards the FIFA World Cup.
In the past 15 years, China has gone from being a relatively insignificant economic partner in Latin America to the number-one trading partner of some of the largest economies in the region.
The FIFA World Cup 2014 mascot was inspired by the three-banded armadillo, which is unique in its ability to roll up in a tight ball. The species is endangered in Brazil, which is hosting the upcoming global sporting event.
As the FIFA World Cup approaches, the streets of Brazil are heating up with strikes and demonstrations, and there are worries that the social unrest could escalate into a wave of protests similar to the ones that shook the country in June 2013.
Democratic governance offers a viable option for developing countries to achieve economic growth and inclusion, yet this doesn’t need to follow the Western model, new research released here this week suggests.
Brazil’s real gross domestic product (GDP) in 2013 grew by 2.3 percent, following rates of 2.7 percent and 1 percent in 2012 and 2011 respectively. Perspectives for 2014 on this front are not optimistic.
China’s massive urbanisation has been built, literally, by metal, supplied mostly by Latin American countries (LAC). Yet now China’s slowing economic growth and falling commodity prices threaten Latin American commodity booms.