Monday, 1 April 2013

Aspirations of developing nations

The idea behind meeting of developing nations is that they will be able to help each other. When we depend on Western countries for trade and commerce, we have a feeling that we will be exploited. There cannot be equal relations between uneven partners. So when egalitarian forces are involved in progress and technological transfers, there will be no exploitation; this is the reason we make friends with countries like ourselves. BRICS is an outcome of that feeling. But all the developing countries are having problems internal functioning. They have yet to overcome their domestic economic exigencies. Global trade is not easy as we have no ways to expand. In the previous centuries, overseas colonies gave space to expand economies. Now there is an end to that trend. We have challenges which are different from the rest. We have to import oil, and we are importing at a cheaper price than before. But same exigencies are not faced by others have other import-export troubles. We have competition from our immediate neighbours who can easily outgrow us; this is a threat to our growth. All of us have some common problems like, we have worry about leaderships.
 The strongest (China) is bigger in having the largest monetary resources. So it would be able to contribute more to the bank (BRICS development Bank). Questions arise on 'who will invest' and 'how much'.Instead of meeting once a year, members can meet twice a year. Not just leaders but the finance ministers of all countries can meet, foreign ministers can meet and bureaucrats can meet to teach each other. Business councils can meet more often. There will be a special “think tank” to discuss common issues on development. We must know how to deal with international monetary and financial systems (recession, global slow-down etc). We must discuss global issues and we have to set up an integrated market for trade and investment, so that we can all do well. We must make business links. Cooperation can work wonders for us. We must discuss macro-economic issues, so that we can develop ourselves fast.Each of have our unique exigencies and very very  different needs, but all are determined to progress. Instead of having a bleak view “where are we heading towards” we must have a positive outlook and we must take concrete steps to progress.

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