The BRICS – a bloc of nations comprising Brazil, Russia, India, China and South Africa – meets next month in Brazil's capital for its annual summit. The idea of the "BRIC" grouping comes from a 2001 Goldman Sachs paper, which predicted that these rising economies, despite their major differences, would soon be among the world's largest, and that as a group they would command more global clout as a result. The idea took on a real-world structure in 2009, when Brazil, Russia, India and China began holding regular BRIC summits, and in 2010 they invited South Africa to join as well. But this vision of BRICS power hasn't necessarily materialized: China's share of global GDP has boomed – and India's growth has been significant, too. But the B, R, and S shares of the global economy have actually shrunk over the past 20 years. Here's a look at how these economies have fared since the idea of the BRICS was born.
The Business and Market Fair that recently took place in Sanzule, Ghana featured local crops, livestock and manufactured goods, thanks in part to the Livelihood Restoration Plan (LRP), one of Eni's initiatives to diversify the local economy. The LRP program provided training and support to start new businesses to approximately 1,400 people from 205 households, invigorating entrepreneurship in the community.
Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky sat down yesterday with Germany's Angela Merkel and France's Emmanuel Macron for a meeting in the Elysée Palace in Paris for peace talks. This was the first-ever meeting between Putin, Russia's dominant political force since 2000, and Zelensky, who was a TV comedian at this time last year.
Fears that Putin would use Zelensky's inexperience to back him into a deal on Russian terms weren't realized, but the relationship between the two has only just begun.
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4: The World Anti-Doping Agency handed Russia a four-year ban from all major sporting events, precluding its participation in the Tokyo 2020 Olympics and Paralympics, and soccer's 2022 World Cup in Qatar. Russia has three weeks to appeal the ban, which its prime minister says is the result of "chronic anti-Russian hysteria."
Are we seeing the creation of a parallel universe for US and Chinese tech industries?
I think the answer is yes. In the past, US has dominated the world in technologies from P.C. operating systems, semiconductors, to servers, and even Internet. But ever since the rise of mobile technologies, China has really leveraged the large market with a huge amount of data and now is beginning to innovate and build great mobile apps on which there's a large amount of data being collected.