How can BRICS survive amidst TTIP? | The Financial Express
January 5, 2015
By Geethanjali Nataraj
As the US and the EU prepare to enter into the largest trade deal in history – the Transatlantic Trade and Investment Partnership (TTIP) – an arrangement which would complement the other gigantic US-led trade deal, the Trans-Pacific Partnership (TPP), speculations run rife over the striking absence from the deal of the countries which emerged as the more assertive leaders after the 2008 financial crisis, and steered the global economy from plunging further, namely the BRICS.
The five countries represent about
- 43% of the world’s population. As of 2013, their
- combined foreign-currency reserve is $4.4 trillion. From $27 billion in 2002,
- trade within the group surged to $282 billion in 2013. The group accounts for about
- 15% of the world trade and
- 20% of the global FDI flows. Interestingly, according to the…
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