1. The BRICS do not
Challenge our
Basic Conceptions
of Development.
By Rachel,
Priyanka
& Helen

2. Jim O'Neill
Head of Global Economics Research
“If BRICs countries
pursue good economic
policy (…)
their economies could
become the biggest
in the world. (...)
It will provide for those
that have INVESTED in
the BRICs
dream, almost definitely,
pretty spectacular
returns.” (O'Neill 2009
emphasis added)

3. BRICS

4. CONCEPTS OF
DEVELOPMENT

6. DEVELOPMENT
DISCOURE

7. - Poverty Reduction
DAC - Other Social Spending
- Policy Conditionality
- (Macro)Long-run
Debt Sustainability
- Mutual Accountability
- Harmonization
- Realization that Trade & Aid
are Complementary

8. - Infrastructure & Trade
- None Cash Financing
- Zero Conditionality
- Micro Sustainability
- Mutual Benefits
- Economic Growth
- Realization that Debt
Sustainability Should be
High Priority

9. PRACTICE

10. NEPAL

11. Infrastructure & Trade
FDI
Source: Department of Industries Nepal
1 China South Asia is the lowest ranking
recipient of FDI
Year No. Billion 2 India
JV NPR 3 USA
2010- 209 10.05
2011 4 South Exports
Korea India $532,589,892 China $17,437,607
2011- 227 7.14 So. African Customs
Union $940,745
Russia $930,059
2012 Brazil $766,642 United States
$71,676,402
Roads Energy
United Kingdom Japan $11,690,760
$21,788,888
In 2010 Nepal was the 2nd lowest
ROW
$254,382,731.68
REDP GoN,
UN &
World
Bank Imports
India $1,301,144,920 China $665,972,867
Brazil $7,945,087 Russia $659,628
So. African Customs United Kingdom
Union $359,025 $102,302,042
China
x10 Hydro China Japan $83,070,585 United States
$24,783,838
India Projects ROW $1,081,120,853
Japan
World Bank
Asian Development Bank
http://scaef.org.np 2009
Cross World Source: The Economic Complexity Observatory MIT
Border Bank &
Improvemen India

12. Conclusion
- Discourse level development is
articulated differently
- Their concepts are complimentary
rather than challenging
- In practice they both support
economic growth
- BRICS alternative approach is
a call for more egalitarian
power structures in bodies such as
the IMF and UN

13. Bibliography
The Economic Complexity Observatory [2011] Learn more about trade in Nepal MIT: MIT Avaliable from:
http://atlas.media.mit.edu/country/npl/ [01/12/12]
Chandan Sapkota [2012]Review of the Nepali Economy Fiscal Year 2011-2012 [Chansan Sapkota's Blog - FDI] [01/09/2012]
Available at: URL: http://sapkotac.blogspot.co.uk/search/label/FDI [01/12/12]
The Economist [2012] IMF Influence: Light-weight BRICS. The Economist: London. Available from:
http://www.economist.com/blogs/dailychart/2011/06/imf-influence [01/12/12]
Tulasi Prasad Sitaula [2009] Infrastructure Development in Nepal: Opportunities
and Challenges for Engineers. SCAEF Conference: Nepal Available from:
http://scaef.org.np/conference/conference/pdf/Session-3/2.%20Tulasi%20Sitaula%20-%20Theme.pdf [01/12/12]
AidData.org [2012] The First Tranche: A Blog by AidData Staff. Washington: USA. Available from: http://blog.aiddata.org/
[01/12/12]
TheVirusBrox [2009] The BRICs Dream (HQ) Available at: http://www.youtube.com/watch?v=fOdcQ3emyzM&noredirect=1
[01/12/12]
Prithiv Man Shrestha [2012] China eyes Nepal as next investment destination. Ekantipur: Nepal. Available from:
http://www.ekantipur.com/2010/09/17/top-story/china-eyes-nepal-as-next-investment-destination/322345/ [01/12/12]
The BRICS [2012] BRICS summit Delhi Declaration. 2012 Summit: Delhi. Available from:
http://www.cfr.org/brazil/brics-summit-delhi-declaration/p27805 [01/12/12]
OECD [2005/8] Paris Declaration on Aid Effectiveness & Accra Agenda for Action. OECD: Paris & Accra. Available from:
http://www.oecd.org/dac/aideffectiveness/34428351.pdf [01/12/12]
Mwase and Yang [2012] BRICs’ Philosophies for Development Financing and Their Implications for LICs. IMF:
Washington. Available from: http://www.imf.org/external/pubs/ft/wp/2012/wp1274.pdf [01/12/12]
Eyben, R. [2012] What role do emerging powers play in the future of development cooperation? IDS: Brighton. Available
from: http://www.ids.ac.uk/news/what-role-do-emerging-powers-play-in-the-future-of-development-cooperation [01/12/12]