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BRICS pre-summit meetings gather pace, showcase India ( Source- Russia & India Report / Author- Nilova Roy Chaudhaury)

BRICS heads of State ( Image credits- Wikimedia Commons / Author-  Roberto Stuckert Filho) Source- Russia& India Report Author- Nilova Roy Chaudhaury , RIR The BRICS (Brazil, Russia, India, China, South Africa) calendar year is packed with more than 50 meetings across a whole range of sectors which are held in the run-up to the Summit of leaders from all the five member countries. The BRICS Working Group on Energy Saving & Energy Efficiency just concluded their pre-Summit meeting (July 4 and 5) in which they deliberated on how to increase cooperation in energy saving and energy efficiency within BRICS. During the deliberations, officials from India, Russia, China, South Africa and Brazil made presentations on measures taken to save energy, improve energy efficiency and reduce the carbon footprint Among the main areas of cooperation and a key objective of BRICS is energy cooperation through joint research and technology projects. The meeting was a foll

China, India pave the way to BRICS cooperation in space ( Source- Russia & India Report/ Sputnik)

IRNSS Coverage area ( Source- Wikimedia Commons / Author- Brilliant Wiki-II) Source- Russia & India Re port Author- Sputnik The decision of China and India to work together on a joint system of satellites would allow the members of BRICS to be more independent and implement more complex engineering projects in space without having to depend on US technology, Russian military expert Vasiliy Kashin told Sputnik in an interview. A few days ago during his visit to India, Wu Yanhua, Deputy Administrator for the Chinese National Space Agency (CNSA), said Chinese and Indian space scientists would begin cooperation in the field of aerospace. This announcement also comes amidst the plan of all BRICS members to have their own satellite system to avoid becoming dependent from US technology and equipment in space. "Any form of technological dependence from the United States is a serious risk, both political and commercial. BRICS nations should use each other'

Russia, China develop navigation system for SCO, BRICS ( Source- Russia & India Report / Sputnik)

Chinese Beidou system ( Image credits- Internet source) Source- Russia & India Report / Sputnik Russian and Chinese experts have developed a draft project to create a global international navigation system based on China’s BeiDou and Russia’s GLONASS satellite navigation for the member states of BRICS group and the Shanghai Cooperation Organization, Russian Space Systems company said in a statement on Tuesday. On Monday, Russia's GLONASS Union said Russia and China would also finalize a deal this month to establish two joint ventures to develop, manufacture and sell new satellite navigation devices that would receive signals from three major navigation systems, BeiDou, GLONASS and US Global Positioning System (GPS). "The project was approved at the second meeting of the Chinese-Russian committee for important projects in the sphere of strategic cooperation on the satellite navigation," the statement reads. The Chinese-Russian project is based o

ESTABLISHMENT OF NDB AND AIIB: SHIFTING ECONOMIC BASE FROM WEST TO EAST – ANALYSIS ( Source- The Eurasian review/ Author- Hari Bansh Jha)

Image credits- Flickr/ The Presidency of South Africa Source- The Eurasia review Author- Hari Bansh Jha The recently established New Development Bank (NDB) by BRICS member countries and Asian Infrastructure Investment Bank (AIIB) by 21-member Asian countries with their headquarters in China herald a shift in economic power from the West to the East. It is speculated that these two monetary institutions would dwarf the size of West-supported World Bank (WB) and the Asian Development Bank (ADB). Only time will tell how NDB and AIIB emerge as alternative source of funding in the international financial market. But it has almost become certain that the era of West’s control over the international financial resources has started eroding. The first jolt to the international financial institutions like the WB and IMF was exhibited when the five BRICS countries, including Brazil, Russia, India, China and South Africa made an agreement for the establishment of the long awa

ASIAN INFRASTRUCTURE INVESTMENT BANK: A NEW BANKING ALTERNATIVE – ANALYSIS ( Source- The Eurasia Review, Author- Jayashree Sengupta/ Observer research Foundation )

Source- The Eurasia Review Author- Jayashree Sengupta/ Observer research Foundation  By all accounts, poor infrastructure is the biggest stumbling block for achieving higher economic growth. Lack of roads, highways, power, ports, airports and water has acted as the main deterrent to attracting foreign direct investment, especially in the South Asian region. The first initiative to address the needs of developing and emerging market economies for infrastructure was the establishment of the New Development Bank by BRICS in Shanghai. This was announced at Fortaleza, Brazil, in July 2014 and marked a paradigm shift in the global financial system towards a new economic order in which the role of the IMF and the World Bank will be considerably diminished. And now the creation of the Asian Infrastructure Investment Bank (AIIB) has reinforced the trend. The AIIB was announced October 24, 2014, by China along with 20 other Asian countries which signed the MoU. The bank will be fun

Welcome to the World Without the West ( Source- The National Interest, Authors- Nazneen Barma, Ely Ratner, Steven Webner)

Image credits- Wikimedia Commons/ Kremlin Source- The National Interest Author- Nazneen Barma, Ely Ratner, Steven Webner It’s become standard practice for U.S. officials to describe the future of Sino-American ties as the central drama of international politics. In early November, just ahead of President Obama’s summit with his Chinese counterpart Xi Jinping, Secretary of State John Kerry told an audience in Washington that, “The U.S.-China relationship is the most consequential in the world today, period, and it will do much to determine the shape of the 21st century.” National Security Adviser Susan Rice took to the Twittersphere shortly after touching down in Beijing in September to reiterate the oft-repeated phrase that, “Most major global challenges of 21st century cannot be addressed effectively without U.S. and China working together.” This isn’t just diplomatic courtesy; it’s a core signal of how American foreign-policy makers see the world. The dominant frami