With slowing growth in the BRICS and the underwhelming recovery in the U.S., many nations around the world are looking to free trade. Australia, among others, has been negotiating agreements with Asia, forming the Trans-Pacific Partnership.
This article is a follow up to my first report on my honours field-trip to Bangladesh (available here if you haven’t yet read it). Within this piece I’ll outline my second week in the country, which thankfully wasn’t affected by the hartels (political strikes) which prevented us from being able to leave our Dhaka guesthouse in the first week.
Our field trip to Bangladesh happened to coincide with the Islamic holy month of Ramadan, which was a definite double edged sword.
Twelve years after being named the next global economic powerhouses, the Brazilian, Russian, Indian, Chinese and South African governments, also known as the BRICS economies, have decided to embrace a de facto union, and had numerous economic meetings between the countries’ leaders. The group demands international attention. Brazil can offer the world enormous amounts of agricultural goods, China is the world’s second largest economy with a massive cheap labour force, India offers itself as a source of inexpensive intellectual resources, and Russia is now the world’s largest mineral exporter. The group are now considering making a formal alliance, following a meeting of all five countries in Durban. Such a move would most likely create one of the world’s most powerful unions of the twenty-first century, and surely the most diverse we have seen thus far.