DEVT10001 Lecture Notes - Lecture 11: Informal Sector, Ambivalence, Loan
28 Jul 2018
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Brazil, russia, india, china and south africa - they represent the shift in econ power from developed to developing countries. By 2040, the combined gdp of bric econs could be larger than the us, france, Britain, germany, italy and japan - goldman sachs. China (7. 8%) and india (5. 6%) has incredible gdp growth rates. Gdp/capita vs. usd gdp (varies with pop sizes) 2009: bric held first summit meeting in yekaterinburg, russia. Contribute positively to global peace, stability, development and cooperation. 2013 durban summit agreed to set up a brics development bank (idea first proposed by india at the 2012 delhi summit) Will finance long-term infrastructure projects w/in the brics countries only after taking domestic actions. The finance ministers of brics countries were tasked w presenting a report at the 2014 summit in november. It"ll begin w/ a subscribed capital of b divided equally bet its 5 founders and a.
