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What are BRIC's
Brazil
Russia
India
China
All of the countries all developing or NIC's, but are distinguished by their large fast growing
economies and significant influence on regional and global affairs (all are G20 members)
They all have similar levels of development (GDP, HDI etc.)
In 2010 they accounted for ¼ of global GNI
Fast growing economies
Favourable internal demographics
Cheap labour + production costs- attracts FDI…read more

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Philosophy- Mutual benefits
BIRC countries in economies where profits can be made for the investor alongside the
development of a nation
Emphasizing the mutual benefits of cooperation, focusing on promoting trade, investment and
other commercial activates.
Philosophy- Conditionality
o A major downfall of usual aid and loans is that they come with a long list of conditions alter
country and mean nations have to change to the donors beliefs
o Conditions would undermine the principle of respecting "national sovereignty" and promoting
"solidarity"
o Removal of conditions means that the most vulnerable are helped sooner…read more

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Philosophy- South-south cooperation
South-South cooperation is initiated, organized and managed by developing
countries themselves; often, Governments play a lead role, with active participation
from public- and private-sector institutions, non-governmental organizations and
individuals.
BRIC's philosophy related to development financing can be traced back to the South-
south cooperation discussions, which emphasize the principles of equality, solidarity,
mutual development and complementarity.…read more

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Evaluation - positives
Brazil, China and India see themselves as development
partners not donors
BRIC financing LICs is growing rapidly, driven mainly by
China. In contrast with many industrial countries which are
facing large fiscal consolidation and consequent challenges
to meet their commitments…read more

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Evaluation- negatives
There is concern that the Chinese model for infrastructure development
in Africa limits employment opportunities for locals as Chinese labour is
imported
Concerns over labour practice are becoming an important issue and
could fuel discontent in communities that see limited benefits to the
local people and the economy.
South-south cooperation restricts FDI in other regions that are in
desperate need of investment allowing them to advance and develop…read more

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