scholarly journals The New Development Bank and Multilateral Trade Facilitation Agreements on BRICS

2020 ◽  
Vol 6 ◽  
pp. 1
Author(s):  
Fiyinfoluwa Giwa ◽  
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
World Trade Organization ◽  
World Trade ◽  
Development Bank ◽  
Trade Facilitation ◽  
Multilateral Trade ◽  
Brics Countries ◽  
New Development ◽  
The World

Brazil, Russia, India, China, and South Africa (BRICS) have made a tremendous economic impact on the world. Through the New Development Bank (NDB) and the Trade Facilitation Agreement (TFA) by the World Trade Organization, they have become stronger. This article made use of different views to discuss the implication of the NDB and TFA on BRICS. No empirical analysis was carried out. From the viewpoints of other scholars, the Trade Ministers of the BRICS and the World Trade Organization, the NDB and TFA can enhance intellectual and economic growth in the BRICS countries.

scholarly journals Not Tripping over TRIPS: An Analysis of Necessity and Legality of the COVID-19 TRIPS Waiver Proposal

2022 ◽  
Vol 10 (5) ◽  
pp. 61-65
Author(s):  
Ahan Gadkari ◽  
◽  
Sofia Dash ◽  
Keyword(s):  
South Africa ◽  
Intellectual Property ◽  
Property Rights ◽  
World Trade Organization ◽  
Intellectual Property Rights ◽  
World Trade ◽  
Vaccine Development ◽  
Pharmaceutical Manufacturing ◽  
The World ◽  
Fair Distribution

The availability of vaccinations against COVID-19 provides hope for containing the epidemic, which has already claimed over 2.84 million lives. However, inoculating millions of individuals worldwide would need large vaccine manufacturing followed by fair distribution. A barrier to vaccine development and dissemination is the developers' intellectual property rights. India and South Africa have jointly sought to the World Trade Organization that certain TRIPS rules of COVID-19 vaccines, medicines, and treatments be waived. This piece argues for such a waiver, highlighting the unique circumstances that exist. It believes that TRIPS's flexibilities are inadequate to cope with the present epidemic, particularly for nations without pharmaceutical manufacturing competence.

scholarly journals Free Trade Agreements: WTO and ASEAN Implications

2004 ◽  
Vol 20 ◽  
pp. 95-111
Author(s):  
Jose L. Tongzon
Keyword(s):  
Developing Countries ◽  
World Trade Organization ◽  
Free Trade ◽  
World Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
Trade Negotiations ◽  
Multilateral Trade ◽  
The World ◽  
Asean Countries

The World Trade Organization (WTO) (formerly GATT) was established primarily to achieve free trade across the globe based on the principle of non-discrimination and the process of multilateral trade negotiations. The fact that most countries are members of WTO reflects the worldwide belief in the benefits of a global free trade. Despite its achievements since the first round of multilateral trade negotiations was held, the effectiveness of the process has been called into question. Most WTO members are now proposing new regional trading arrangements (RTAs), such as free trade agreements (FTAs). What implication does these RTAs have for the WTO and ASEAN countries? Should ASEAN countries give regionalism priority over the WTO-based multilateral approach? To answer this questions, this paper will first summarize the motivations behind the formation of RTAs before presenting the merits and demerits of RTAs as an approach to achieve universal free trade and maximize developing countries' welfare. It is argued that despite its inherent limitations it is important for ASEAN countries to remain primarily committed to the principles of WTO and the process of multilateral trade negotiations.

scholarly journals New Development Bank: Importance and Role in Sustainable Economic Development

2015 ◽  
Vol 2 (2) ◽  
Author(s):  
K. B. Dhore
Keyword(s):  
International Development ◽  
World Economy ◽  
World Population ◽  
Development Bank ◽  
Foreign Reserves ◽  
Brics Countries ◽  
Complementary Role ◽  
New Development ◽  
The World

As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. BRICS leaders have approved creating a New Development Bank which would fund long-term investment in infrastructure and more sustainable development. It then estimates the likely level of loans that this New Development Bank could make, under different assumptions. It highlights the complementary role that such a bank would play with existing development banks and shows its importance for enhancing the influence of BRICS and other developing countries in the international development architecture. On the other hand, there are doubts about the nature and coherence of the group. There is also concern that the economic agenda of BRICS could pose new challenges to human rights and development, particularly given the absence of domestic frameworks for accountability on international engagements.

scholarly journals O banco e o arranjo de reserva dos BRICS em perspectiva

2019 ◽  
Vol 8 (2) ◽  
pp. 406-426
Author(s):  
Jackson Ribeiro ◽  
Gilberto Maringoni
Keyword(s):  
South Africa ◽  
World Bank ◽  
Financial Institutions ◽  
Economic Governance ◽  
Development Bank ◽  
Bretton Woods ◽  
The World Bank ◽  
New Development ◽  
The World ◽  
Bretton Woods Institutions

Este artigo tem como objetivo analisar os documentos da cúpula dos BRICS de Fortaleza, ocorrida em julho de 2014 que criou duas instituições financeiras, o Novo Banco de Desenvolvimento - NBD - e o Arranjo Contingencial de Reservas - ACR. São iniciativas importantes para estreitar os laços do grupo que reúne Brasil, Rússia, Índia, China e África do Sul, além de servirem para alargar a ordem monetária e financeira internacional. O NBD e o ACR são complementares às instituições multilaterais tradicionais de Bretton Woods: Banco Mundial e FMI. Complementares, pois foi adotada uma orientação cautelosa na criação desses arranjos protagonizados pelos BRICS. Tais arranjos alternativos incorporaram muitas prerrogativas e princípios do Banco Mundial e FMI, como a necessidade de acordo de cada país membro para acessar parte relevante de recursos no ACR. Mesmo incorporando prerrogativas e os princípios dominantes nessas organizações tradicionais NBD e ACR criam ambientes institucionais com potencial para possibilitar novos desdobramentos.     Abstract: This article aims to analyse the documents of the BRICS Fortaleza summit held in July 2014 that created two financial institutions, the New Development Bank – NDB and the Contingent Reserve Arrangement – CRA. They are important initiatives to strengthen the ties of the group that includes Brazil, Russia, India, China and South Africa, as well as serve to broaden the international monetary and financial order. NDB and CRA are complementary to traditional multilateral Bretton Woods institutions: the World Bank and the IMF. Complementary, because a cautious orientation was adopted in the creation of these BRICS arrangements. Such alternative arrangements have incorporated many prerogatives and principles of the World Bank and IMF, such as the need for each member country to agree to access a relevant part of the resources in the CRA. Even incorporating prerogatives and the dominant principles in these traditional NDB and CRA organisations create institutional environments with the potential to enable further unfoldings. Keywords: BRICS; NDB; ACR; ECONOMIC GOVERNANCE.     Recebido em: fevereiro/2019. Aprovado em: setembro/2019.

scholarly journals THE DEVELOPMENT BANK OF BRICS

2018 ◽  
Vol 5 (4) ◽  
pp. 5-32
Author(s):  
Thiago Ferreira Almeida ◽  
Roberto Luiz Silva
Keyword(s):  
International Development ◽  
World Bank ◽  
Development Bank ◽  
Brics Countries ◽  
The World Bank ◽  
New Development ◽  
The World ◽  
Development Institutions ◽  
New Form ◽  
Growth Analyses

This paper takes aim at the international financial system through the lens of the New Development Bank of the BRICS countries with an analysis of the Bank’s impact and relevance vis-à-vis the system. The work compares the traditional characteristics of international development institutions such as the World Bank and financial entities directed by national authorities with international solutions such as the New Development Bank, whose goals are to boost the infrastructure and renewable energy sectors of its five member countries as well as those of other developing countries. The work lays out insightful data on foreign direct investment of BRICS, GDP growth analyses, imports and exports inside and outside the BRICS group for a clearer understanding of the companies and businesses involved in the group. The work highlights an outlook of investment and development engaged in this new form of South-South cooperation which has been created by BRICS.

Economic and Political Geography

2017 ◽  
Author(s):  
Rabi S. Bhagat
Keyword(s):  
Economic Growth ◽  
World War Ii ◽  
South Korea ◽  
Financial Markets ◽  
World Trade Organization ◽  
World Trade ◽  
Political Geography ◽  
World War ◽  
The Third ◽  
The World

The development of the BRIC economies is being monitored on a regular basis by financial markets worldwide. This chapter discusses some of the reasons for their emergence and continued growth and the challenges they face. Next, it considers the third-largest economy, Japan, and the five Asian dragons, which grew at a phenomenal rate after World War II. It discusses “reactive modernization”—a path of fostering economic growth by negotiating with the ruling Western economies. Japan and South Korea are two classic examples of this kind of growth, where a hybrid of Western industrialization was combined with Eastern methods of operating. A closer inspection of the trading economies in the World Trade Organization would reveal that a growing number of them are from non-Western nations, and they play important roles in shaping the paths that globalizations need to follow in the new economic and political geography of the world.

Challenged in Geneva: WTO Litigation Experience and the Design of Preferential Trade Agreements

2021 ◽  
pp. 1-20
Author(s):  
Simon Wüthrich ◽  
Manfred Elsig
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
International Institutions ◽  
Trade Agreements ◽  
Preferential Trade Agreements ◽  
Trade Disputes ◽  
Preferential Trade ◽  
Multilateral Trade ◽  
Track Record ◽  
The World

Abstract What explains the design of international institutions? Existing research has largely neglected how experience in cooperation in one set of international institutions impacts on design choices made by states in other globally-oriented institutions. We contribute to this evolving debate by analyzing spillovers in experience in international trade. We argue that countries' track record of interaction in multilateral trade disputes affects the design of their preferential trade agreements (PTAs). If a country participates in a complaint against a prospective PTA partner at the World Trade Organization (WTO), the challenge in Geneva alerts the defendant's import-competing industries with respect to potential challenges under the planned PTA. As a result, these industries exert pressure on their government to preserve leeway under the future treaty, leading to increased flexibility and a lower level of enforcement in the PTA. We find support for our hypotheses in an empirical analysis of 347 PTAs concluded post 1990.

Competing Cultures: Canada and the World Trade Organization — The Lessons from Sports Illustrated

1999 ◽  
Vol 36 ◽  
pp. 279-302
Author(s):  
Myra J. Tawfik
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
Multilateral Trade ◽  
Cultural Sovereignty ◽  
The World ◽  
Sports Illustrated ◽  
Canadian Culture ◽  
The Impact

SummaryThis article explores the impact of the WTO on Canadian cultural sovereignty. More specifically, it provides an assessment of the recent WTO decision in Canada — Certain Measures Concerning Periodicals in an effort to demonstrate that the multilateral trade framework is not only incompatible with, but in fact threatens, the continued viability of a distinct Canadian culture.

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