->WereSpielChequers at 10:13, 1 December 2021

2021-12-01T10:13:53Z

New page

{{Short description|Summit in Brazil}}

{{Infobox summit
| summit_name = 2nd BRIC Summit {{lang|pt|Segunda cúpula do BRIC}}
| other_titles =
| image = Bric 2010.PNG
| caption =
| country = [[Brazil]]
| cities = [[Brasília]]
| dates = 16 April 2010
| participants = [[BRICS]]
| follows = [[1st BRIC summit]]
| precedes = [[3rd BRICS summit]]
| website =
}}

The '''2010 BRIC summit''' took place in [[Brasília]], [[Brazil]] on April 16, 2010. This was the second [[BRIC]] summit after [[Yekaterinburg]] in [[2009 BRIC summit|2009]]. The meeting took place between the four [[Head of government|heads of government]] from the BRIC states following bilateral meetings in the prior days.

==Overview==
The acronym BRIC (for '''B'''razil, '''R'''ussia, '''I'''ndia, '''C'''hina) was first used in a [[Goldman Sachs]] thesis projecting the economic potential of [[Brazil]], [[Russia]], [[India]] and [[People's Republic of China|China]].<ref name="www2.goldmansachs.com">{{cite web |title=Goldman Sachs: The BRICs Dream: Web Tour |url=http://www2.goldmansachs.com/ideas/brics/index.html |archive-url=https://www.webcitation.org/5heLc0nsG?url=http://www2.goldmansachs.com/ideas/brics/index.html |archive-date=2009-06-19 |url-status=live |access-date=2009-06-17 }}</ref>

Previously, the [[1st BRIC summit]] took place in [[Yekaterinburg]], [[Russia]] in 2009 and discussed global issues. This year's summit follows the Washington [[2010 Nuclear Security Summit|Nuclear summit]] hosted by U.S. President Barack Obama which was attended by all four BRIC states.

Between 2003 and 2007, BRIC countries carried 65% of the expansion of global GDP. In 2009, the combined [[purchasing power parity|PPP]] GDP of the BRIC countries was US$16.3 trillion, or 23.4% of global total. From 2003 to 2008, Brazil trade with the other BRIC countries increased by 382%, or US$10.7 billion to US$51.7 billion.

==Participants==
The [[head of state|heads of state]] and [[heads of government]] of the four countries participated.
{| class="wikitable"
|-
|colspan="4" style="text-align: center; background:Gainsboro" |'''[[BRICS|Core BRIC members]]''' Host state and leader are shown in bold text.
|- style="background:LightSteelBlue; text-align:center;"
! colspan=2 | Member

! Represented by
! Title
|-
! {{flagicon|BRA}}
| '''Brazil'''
| '''[[Luiz Inácio Lula da Silva]]'''
| '''[[President of Brazil|President]]'''
|-
! {{flagicon|RUS}}
| Russia
| [[Dmitry Medvedev]]
| [[President of Russia|President]]
|-
! {{flagicon|IND}}
| India
| [[Manmohan Singh]]
| [[Prime Minister of India|Prime Minister]]
|-
! {{flagicon|CHN}}
| China
| [[Hu Jintao]]
| [[President of the People's Republic of China|President]]
|}

;Invited leaders
*{{flag|South Africa}}: [[Jacob Zuma]], [[President of South Africa]]
*{{flag|Palestinian Authority}}: [[Riyad al-Maliki|Riad Al-Malki]], [[Foreign Minister of the Palestinian Authority]]

==Gallery of participating leaders==
===Members of BRIC===
<gallery widths="122px">
File:Lula - foto oficial - 05 jan 2007.jpg|{{flagicon|Brazil}} '''[[Brazil]]''' '''[[Lula da Silva]], [[President of Brazil|President]] (Host)'''
File:Dmitry Medvedev official large photo -1.jpg|'''{{flag|Russia}}''' [[Dmitry Medvedev]], [[President of Russia|President]]
File:Prime Minister Manmohan Singh in WEF ,2009.jpg|'''{{flag|India}}''' [[Manmohan Singh]], [[Prime Minister of India|Prime Minister]]
File:Hu Jintao Cannes2011.jpg|'''{{flag|China}}''' [[Hu Jintao]], [[President of the People's Republic of China|President]]
</gallery>

===Guests===
<gallery widths="122px">
Image:Jacob G. Zuma - World Economic Forum Annual Meeting Davos 2010.jpg|'''{{flag|South Africa}}''' [[Jacob Zuma]], [[President of South Africa|President]]
Image:Riad Al-Maliki.jpg|'''{{flag|Palestinian Authority}}''' [[Riyad al-Maliki|Riad Al-Malki]], [[Foreign Minister of the Palestinian Authority|Foreign Minister]]
</gallery>

==Other meetings==
A few months before the summit, the Indian Foreign Minister, SM Krishna, met President Lula in Brasília, where he stressed for the need to accelerate relations between the three countries. He also emphasised India's commitment to [[IBSA Dialogue Forum|IBSA]] as a symbol of "the spirit of South-South cooperation."<ref>[http://www.thaindian.com/newsportal/uncategorized/krishna-meets-brazil-president-ahead-of-ibsa-summit_100241385.html Krishna meets Brazil president ahead of IBSA summit] {{Webarchive|url=https://web.archive.org/web/20140714230125/http://www.thaindian.com/newsportal/uncategorized/krishna-meets-brazil-president-ahead-of-ibsa-summit_100241385.html |date=2014-07-14 }}, 1 September 2009</ref>

Days prior to the official summit, bilateral meetings also took place between Brazil and India, as well as between Brazil and China. India and China also agreed to work together instead of competitively signaling there is enough room for them both to grow together. The two also agreed to give greater market access to each other's products to boost trade.{{cn|date=July 2021}}

Additionally, between April 13 to 16 other meetings and forums took place such as: the IBSA/BRIC Business Forum; meeting of development banks and commercial banks Meeting; a [[think-tank]] seminar; a cooperatives forum; and a meeting of representatives on strategy and security.

==Issues==
[[File:BRIC2010.jpg|thumb|Picture of the BRIC national leaders at the event.]]
The leaders discussed various current issues including the [[Iran and nuclear weapons]], development, the furtherance of the BRIC (and [[IBSA Dialogue Forum|IBSA]] that was occurring at the same time) as an international body, the global economic situation at the time, reform of financial institutions, the financial G20, and cooperation and issues related to global governance.

However, China explicitly stated the [[Sino American relations#U.S.-China economic relations|Chinese Yuan]] was not discussed. Despite coming under heavy pressure to let their currency appreciate the Chinese appeared to be standing their ground.<ref>{{cite web|title=China Foreign Ministry:BRIC Summit Didn't Discuss Yuan Issue|url=https://www.wsj.com/article/BT-CO-20100415-717830.html?mod=WSJ_latestheadlines |access-date=April 16, 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100421032407/http://online.wsj.com/article/BT-CO-20100415-717830.html?mod=WSJ_latestheadlines |archive-date=April 21, 2010 }}</ref> Despite the refusal to discuss this the currency fell.<ref>{{cite web|url=http://www.businessweek.com/news/2010-04-16/yuan-forwards-fall-as-bric-talks-steer-clear-of-currency-policy.html |title=Yuan Forwards Fall as BRIC Talks Steer Clear of Currency Policy |publisher=BusinessWeek |date=2010-04-16 |access-date=2010-08-11}}</ref>

===Iran===
The day before the summit Brazil expressed "affinity" with China towards the Iranian nuclear issue. [[Foreign Minister of Brazil]], [[Celso Amorim]], said "Our impression... is that the effectiveness of sanctions is debatable." He added that President Lula had brought up the same with the Indian Prime Minister Singh.{{cn|date=July 2021}} In the same vein, the IBSA talk preceding the summit called for further talk on the Iranian issue.{{cn|date=July 2021}}

===Development===
Chinese Premier Hu Jintao showed China's willingness to be a positive partner in global development when he showed China's meteoric rise in saying: "The scale and complexity of the challenges that we face in the course of development are unmatched anywhere else in the world and have been rarely seen in human history. We must make persistent efforts for a long time to come. The Chinese people suffered so much in modern history, and we therefore value peace, stability, harmony and freedom more than anything else. A prosperous and growing China dedicated to peace and cooperation is willing and able to make new and even greater contribution to mankind's pursuit of peace and development."<ref>{{cite web|url=http://news.xinhuanet.com/english2010/china/2010-04/16/c_13254233.htm |title=President Hu dwells on China's peaceful development at BRIC summit |publisher=News.xinhuanet.com |date= |access-date=2010-08-11}}</ref>

===Furtherance of BRIC===
India took the initiative to call for improving the importance of the BRIC and IBSA groups.<ref name="hindu"/> Indian PM Singh also called for closer cooperation in the fields of energy and food security, as well as tapping into the potential of other sectors such as trade and investment, science and technology and infrastructure. He added that pooling together the experiences of each can lead to more inclusive growth. "We are four large countries with abundant resources, large populations and diverse societies... We aspire for rapid growth for ourselves and for an external environment that is conducive to our development goals. [Our people] expect us to work together so as to bring the benefits of inclusive social and economic development to them. Our grouping includes two of the largest energy producers and two of the largest consumers in the world. We can cooperate in both upstream and downstream areas, and in the development of new fuels and clean energy technologies."<ref>{{cite web|author =PTI |url=http://articles.timesofindia.indiatimes.com/2010-04-16/india/28117144_1_bric-countries-food-security-global-economic-growth |archive-url=https://web.archive.org/web/20110811060345/http://articles.timesofindia.indiatimes.com/2010-04-16/india/28117144_1_bric-countries-food-security-global-economic-growth |url-status=dead |archive-date=2011-08-11 |title=PM pitches for close cooperation among BRIC nations - India |date=2010-04-16 |work =[[The Times of India]] |access-date=2010-08-11}}</ref>

==Criticisms==
The Chinese president, Hu Jintao, brought forward his departure to April 15 (before the actual talks) instead of April 17 due to the [[2010 Yushu earthquake|earthquake in Qinghai]]. Despite this he did continue with the working meeting and signed a bilateral agreement between the four countries.

==Reactions==
At least one Indian media outlet call the meet "answer to the G7 platform of top industrialised countries." It added that the meet "underscore[d] a shared quest for greater collective influence within the changing geometry of the international system."<ref name="hindu">{{cite web|url=http://www.hindu.com/2010/04/16/stories/2010041662881200.htm |archive-url=https://web.archive.org/web/20100417061306/http://www.hindu.com/2010/04/16/stories/2010041662881200.htm |url-status=dead |archive-date=2010-04-17 |title=Front Page : India pitches for greater IBSA, BRIC role |date=2010-04-16 |work=[[The Hindu]] |access-date=2010-08-11}}</ref>

Investors cited India and China as the best bets of BRIC, of which India was seen as providing investors with the best bet over the long haul, however it also faces challenges to finance the "modernization of its woeful infrastructure given its high debt levels and ambivalence towards foreign investment and privatization." But it was added that "these faster growing markets will translate into above average returns."<ref>{{cite web|url=http://seekingalpha.com/article/22313-analyzing-bric-allocations-india-seems-the-most-promising |title=Analyzing BRIC Allocations: India Seems the Most Promising |publisher=Seeking Alpha |date=2006-12-13 |access-date=2010-08-11| archive-url= https://web.archive.org/web/20100728174205/http://seekingalpha.com/article/22313-analyzing-bric-allocations-india-seems-the-most-promising| archive-date= 28 July 2010 | url-status= live}}</ref>

==See also==
*[[Foreign relations of Brazil]]
*[[Foreign relations of the People's Republic of China|Foreign relations of China]]
*[[Foreign relations of Russia]]
*[[Foreign relations of India]]

==References==
{{Reflist|2}}

==External links==
*[http://www.migalhas.com.br/arquivos/2015/6/art20150601-02.pdf The Sino-Brazilian Principles in a Latin American and BRICS Context: The Case for Comparative Public Budgeting Legal Research] ''[[University of Wisconsin Law School#Journals and publications | Wisconsin International Law Journal]]'', 13 May 2015

{{BRICS}}

{{DEFAULTSORT:BRICS summit,02}}
[[Category:BRICS summits|02]]
[[Category:Diplomatic conferences in Brazil]]
[[Category:21st-century diplomatic conferences]]
[[Category:2010 in Brazil]]
[[Category:2010 in international relations]]
[[Category:2010 conferences]]
[[Category:Manmohan Singh administration]]
[[Category:21st century in Brasília]]
[[Category:April 2010 events in South America]]

2nd BRIC summit - Revision history

->WereSpielChequers at 10:13, 1 December 2021