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1. A post-Western global order in the making? Foreign policy goals of India, Turkey, Brazil and South Africa

Author:
Sinikukka Saari, Toni Alaranta, Bart Gaens, Katariina Mustasilta, and Lauri Tahtinen
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
India, Turkey, Brazil and South Africa are striving for a more multipolar, post-Western world order in which they would not be seen merely as auxiliary powers to the bigger players, but as independent great powers. For them, a key foreign policy goal is to transform global governance institutions. They all call for a permanent seat for their country on the UN Security Council. To achieve that, the states need backing from more than the Western states – and this logically strengthens the multi-aligned logic of their foreign policies. India, Turkey, Brazil and South Africa see Russia’s war of aggression in Ukraine and the Western countermeasures from their own perspective. They describe Russia’s invasion as a violation of international law, but see the war primarily as a Western concern, not theirs. Although these states are critical towards the West, they are not anti-Western and they all value multilateral institutions; their foreign policy goals and features offer opportunities for the EU to engage with them, but that needs to happen on a more equal footing than what has traditionally been the case.
Topic:
Foreign Policy, UN Security Council, Multipolarity, International Order, and Russia-Ukraine War
Political Geography:
Africa, Turkey, India, Asia, Brazil, and Latin America

2. Climate Change and the Political Economy of Hydropower Disruption

Author:
Jonathan Guy, Ishana Ratan, and Anthony Calacino
Publication Date:
12-2023
Content Type:
Policy Brief
Institution:
University of California Institute on Global Conflict and Cooperation (IGCC)
Abstract:
Hydropower is the predominant renewable energy source globally and will play a key role in transitioning countries away from fossil fuels. Yet hydropower production is threatened by the effects of climate change, with significant implications for both energy security and the energy transition. In this policy brief, UC Berkeley PhD candidates Johnny Guy and Ishana Ratan, together with co-author Anthony Calacino, explore preliminary evidence from Brazil, Colombia, and Nepal that shows the multifaceted challenges hydropower-dependent nations face, and divergent responses governments have taken in response. They demonstrate why, in the face of increasing uncertainty, hydropower-dependent countries—already vulnerable to the impacts of seasonal disruptions to power supply—must develop robust strategies for load balancing and project risk management.
Topic:
Security, Climate Change, Strategic Competition, Geoeconomics, and Hydropower
Political Geography:
South Asia, Brazil, Colombia, South America, Nepal, and Global Focus

3. The impacts of the pandemic on investment flows in BRICS countries: a preliminary analysis based on UNCTAD global investment reports

Author:
Ana Garcia, Rafaela Mello, Victor Fernandes, Maria Eduarda Lopes, João Carmino, and Felipe Queiroz
Publication Date:
10-2022
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
In 2020, with the advent of the pandemic, the lockdown and social isolation actions implemented by governments in order to contain the contagion of the virus had an impact on the economies, reducing the speed of execution of existing investment projects and hindering the prospect of new ones. In this sense, the flow of direct investments around the world fell by 35% in 2020, reaching US$ 1 trillion, compared to US$ 1.5 trillion in the previous year, according to UNCTAD. Based on this observation, the present research aims to understand the main trends around the investment flow related to the BRICS countries, in order to assess how the Covid-19 pandemic impacted the dynamics of investments in the world, and especially, in emerging economies. To this end, the reports produced by UNCTAD from 2019 to 2022 regarding global investment flows were analyzed, in order to understand how the scenario was before the pandemic and what dynamics were underway before the health crisis, but it also allowed to understand what transformations occurred with the course of the pandemic, in addition to signaling paths and trends for the future.
Topic:
Economy, Investment, COVID-19, BRICS, and Health Crisis
Political Geography:
Russia, China, India, South Africa, and Brazil

4. Geoeconomics of Polarisation: Can BRICS eclipse western global economic power?

Author:
FARAS
Publication Date:
07-2022
Content Type:
Policy Brief
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
The 14th BRICS summit concluded on June 24 amid Western sanctions on Russia and rising tension between China and the US over Taiwan. The two-day event took place via video and was hosted by Beijing.
Topic:
Economy, BRICS, Polarization, and Russia-Ukraine War
Political Geography:
Russia, China, India, Taiwan, South Africa, Brazil, and United States of America

5. National Development Bank – BNDES and New Development Bank – NDB: a strategic partnership for development and sustainability?

Author:
Maria Elena Rodriguez Ortiz and Paz Andrés Sáenz De Santa María
Publication Date:
11-2021
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
The precedence afforded in recent decades to environmental issues and to the centrality of a sustainable development agenda has led financial institutions to redefine and redirect their funding as well as their institutional and market arrangements to contribute towards balanced and inclusive development, such as strategies to support national environmental targets that will secure the sustainable development goals. This research will therefore explore some elements that underline the relation between the NDB and the BNDES, the Brazilian Development Bank, which can be considered one of the main agencies implementing funding geared for Brazil, with various joint projects approved.
Topic:
Development, Environment, Partnerships, Banks, Sustainability, and BRICS
Political Geography:
Brazil and South America

6. Engaging Brazil in the era of climate action: Can Europe and the United States devise a new globalisation?

Author:
Lauri Tahtinen
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Increased deforestation in the Amazon is the outcome of Brazil’s long political crisis. What started in 2013 with a bus fare hike has traversed through contestable impeachment and populist uprising into a constitutional stalemate. European institutional investors have been in the vanguard of checking Brasília’s lax approach to deforestation and other environmental challenges. While investors continue to carry a big stick, European and US political leadership should consider what carrots they can offer Brasília. Brussels and Washington have changed course rapidly from an approach that emphasised closer ties with Brasília to one of dissatisfaction and distancing. This is both a cause and an effect of Brazil’s international standing diminishing both in terms of economy and country brand. In recent years, Brazil has simultaneously tried to raze more rainforest and build North Atlantic trading relations; the two cannot be done at the same time. A politics of rapprochement with Brazil requires much closer coordination between Europe and the United States than the parties are accustomed to; a commitment to a climate-sensitive globalisation is necessary from Brasília.
Topic:
Climate Change, Environment, Globalization, and International Cooperation
Political Geography:
Europe, Brazil, South America, and North America

7. Do the BRICS care about International Security?

Author:
Filippo Cutrera
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
The present paper has three main objectives: first, to show that, over the first decade of existence of the group, between 2009 and 2018, the BRICS have manifested an increasing interest in expanding their cooperation beyond the traditional areas of economy and development to the field of global security; second, to present the content of their common security agenda and how it has developed throughout this period; third, to identify the main factors influencing the agenda-setting process of the group as well as the main challenges to further advancement. The research will conclude that the high levels of informality in the group’s cooperation and heterogeneity in the interests of its members have enabled BRICS to formulate common positions and to establish cooperation mechanisms on a broad range of issues of international security.
Topic:
International Cooperation, National Security, Regional Cooperation, and International Security
Political Geography:
Russia, China, India, South Africa, and Brazil

8. Developing Countries Can Help Restore the WTO's Dispute Settlement System

Author:
Ana González and Euijin Jung
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
By refusing to fill vacancies in the World Trade Organization’s (WTO) Appellate Body—the top body that hears appeals and rules on trade disputes—the Trump administration has paralyzed the key component of the dispute settlement system. No nation or group of nations has more at stake in salvaging this system than the world’s big emerging-market economies: Brazil, China, India, Indonesia, Korea, Mexico, and Thailand, among others. These countries have actively and successfully used the dispute settlement system to defend their commercial interests abroad and resolve inevitable trade conflicts. The authors suggest that even though the developing countries did not create the Appellate Body crisis, they may hold a key to unlock it. The Trump administration has also focused its ire on a longstanding WTO practice of giving these economies latitude to seek “special and differential treatment” in trade negotiations because of their developing-country status. The largest developing economies, which have a significant stake in preserving a two-step, rules-based mechanism for resolving trade disputes, could play a role in driving a potential bargain to save the appeals mechanism. They could unite to give up that special status in return for a US commitment to end its boycott of the nomination of Appellate Body members.
Topic:
Development, Government, World Trade Organization, Developing World, and Donald Trump
Political Geography:
China, Indonesia, India, South Korea, Brazil, North America, Mexico, Thailand, and United States of America

9. Darkness at noon: deforestation in the new authoritarian era

Author:
Susanna B. Hecht
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
The dramatic Amazon fires images of Au-gust 2019 triggered a geopolitical outcry. Brazilian President Bolsonaro, however, unflinchingly continues to support his destructive model of Amazonian development. This article recalls the extent of the disaster and delves into the reasons behind such disdain for environmental concerns.
Topic:
Agriculture, Climate Change, Development, and Environment
Political Geography:
Brazil and Latin America

10. With or Without You: How the G20 Could Advance Global Action towards Climate-Friendly Sustainable Development

Author:
Steffen Bauer, Axel Berger, and Gabriela Iacobuta
Publication Date:
01-2019
Content Type:
Policy Brief
Institution:
German Institute of Development and Sustainability (IDOS)
Abstract:
With a collective responsibility for 80% of global greenhouse gas emissions, while representing 80% of global wealth, it is imperative that the countries of the G20 throw their weight behind the implementation of both the Paris Climate Agree-ment and the 2030 Agenda for Sustainable Develop¬ment. In the past, the G20 has demonstrated that it can do that. The G20 Summit in November 2015 in Antalya, Turkey, provided strong support for the climate agreement signed a month later at the UN Climate Change Conference (COP21) in Paris. In 2016 in Hangzhou, China, the G20 adopted an Action Plan on the 2030 Agenda for Sustainable Develop¬ment and committed to “further align its work” with the 2030 Agenda. Even though both agendas have emerged in the multilateral context of the United Nations system, the G20 is expected to exert strong political leadership to address global climate change and to achieve sustainable development. Yet, since 2017 the G20 has struggled to provide such leadership, as support for multilateral commitments, especially those involving ambitious climate actions, appears to be fading. Crucially, opposition to strong multilateral climate policy in the US and Brazil resorts to outright climate denialism at the highest levels of government. These developments are challenging the G20, and BRICS and the G7 for that matter, to sustain support for multilateral commitments on climate and sustainable development. The rise of populist and unilaterally minded parties in European club members may further the risk of side-lining climate and sustainability-related issues in the G20 process. This does not bode well at a time when the G20’s support could be a vital ingredient for the success of the United Nations’ summits on climate action and sustainable development, both scheduled to convene in New York in September 2019 – less than three months after the Osaka G20 Summit in Japan. Following our analysis, we identify four ways forward that should be conducive to harnessing the G20’s economic weight and political clout to push more ambitious global action towards climate-friendly sustainable development, in spite of apparent discrepancies between domestic agendas and global understandings.
Topic:
Climate Change, G20, Sustainable Development Goals, and Political Science
Political Geography:
Europe, Brazil, United Nations, and United States of America

11. The Amazon Is a Carbon Bomb: How Can Brazil and the World Work Together to Avoid Setting It Off?

Author:
Monica de Bolle
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The fires in Brazil’s Amazon rainforest in the summer of 2019 represent a government policy failure over many years, especially recently, as Brazilian public agencies that are supposed to curb man-made fires have been deliberately weakened. In keeping with his far-right nationalist campaign promises, President Jair Bolsonaro’s government has intentionally backed away from efforts to combat climate change and preserve the environment, which has emboldened farmers, loggers, and other players to engage in predatory activities in the rainforest. De Bolle calculates that if the current rate of deforestation is maintained over the next few years, the Amazon would be dangerously close to the estimated “tipping point” as soon as 2021, beyond which the rainforest can no longer generate enough rain to sustain itself. The tragic fires have demonstrated that protecting the Amazon rainforest is a global cause. The international attention provides an opportunity for the governments of Brazil and the United States to stop denying climate change and cooperate on strategies to preserve the rainforest and develop ways to sustainably use its natural resources. The international community should revive and expand the Amazon Fund to invest in ways to reduce deforestation through the possible use of payments for environmental services. Brazil should adopt and enforce regulations on land use in the Amazon region while cracking down on illegal uses, such as logging and mining, and should restore conditional rural credit policies to fight deforestation.
Topic:
Climate Change, Environment, and Jair Bolsonaro
Political Geography:
Brazil and South America

12. Inequality in Brazil: Inclusive growth trend of this millennium is over

Author:
Marcelo Neri
Publication Date:
05-2019
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
After three decades of persistently high inequality, Brazil has been experiencing a downward trend since 2001, accompanied by a rise in household incomes. These trends lasted until 2014 when a major reversal took place on both fronts.
Topic:
Education, Inequality, Finance, and Income Inequality
Political Geography:
Brazil and South America

13. The Brazilian model of Investment Agreements and Socio-environmental Safeguards

Author:
Maria Elena Rodriguez and Gabriel de Barros Torres
Publication Date:
03-2018
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
With the purpose of contributing to expanding transnational investment flows, Brazil signed, in 2015, a series of Cooperation and Investment Facilitation Agreements (CIFAs) with African and Latin American countries. Among its provisions, the CIFAs feature distinctive characteristics in terms of direct (and indirect) expropriation, corporate social responsibility, dispute settlement mechanisms and national treatment clauses – ultimately, aiming to provide greater legal certainty for investors. However, civil society organizations have warned against the potential impact of this new model of investment agreements on the autonomy of states to establish regulations in the public interest. As such, this Quarterly Brief seeks to analyze similarities and differences between the new Brazilian CIFAs and traditional bilateral investment agreements – as well as to evaluate them in light of alternative frameworks, elaborated by civil society networks, aimed at balancing investment promotion with human and environmental rights protection.
Topic:
Civil Society, Environment, Treaties and Agreements, Regulation, Social Justice, Land Rights, and Public Health
Political Geography:
Brazil and Latin America

14. Gender and Energy approaches by BASIC countries

Author:
Alice Amorim and Marco Antonio Teixeira
Publication Date:
01-2018
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
This Policy Brief analysis how the BASIC countries have incorporated gender and energy issues in their NDCs and assesses some of the interrelations between key energy and gender inequalities of the bloc.
Topic:
Climate Change, Energy Policy, Gender Issues, Renewable Energy, and Sustainability
Political Geography:
China, India, South Africa, and Brazil

15. The Monitoring, Reporting, and Verification Mechanisms for Developing Countries under the UNFCCC: an analysis of the BASIC countries Biennial Update Reports

Author:
Alice Amorim
Publication Date:
11-2017
Content Type:
Policy Brief
Institution:
BRICS Policy Center
Abstract:
This Policy Brief has three main objectives: Firstly, to present the basic international policy framework for the MRV for developing country Parties under the UNFCCC; Secondly, to provide a short comparative analysis of the latest version of the BURs presented by the countries that belong to the BASIC bloc, with an emphasis on the national MRV component of the Reports; Thirdly and lastly, to provide a set of policy recommendations for the BASIC countries.
Topic:
Climate Change, Development, Developing World, Regulation, and Sustainability
Political Geography:
China, India, South Africa, and Brazil

16. Brazil’s Perception of the Visegrad Group: Not a Strategic but a Prospective Partnership

Author:
Carolina Salgado and Marek Wasinski
Publication Date:
03-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
The Visegrad Group is still a new label among policy makers as well as public and private investors, scholars and media in Brazil. However, since their accession to the EU in 2004, and the financial crisis that started in 2008, the four Central European countries in this group have started to look beyond Europe in order to formulate their economic and political agenda, aiming to boost partnerships, for example among the biggest South American countries such as Brazil. V4 and Brazil should build momentum to deepen cooperation in the most promising prospective areas such as trade, military, tourism and education.
Topic:
Economics, International Trade and Finance, Politics, and Financial Crisis
Political Geography:
Brazil

17. Increasing Access to Medicines: Leveraging Brazil’s Experience

Author:
Erika Malich and Sarah Marion
Publication Date:
07-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The second CIGI Graduate Fellows policy brief examines Brazil's success in ensuring access to essential pharmaceuticals for its citizens, and how this success can be leveraged for other developing countries in similar circumstances. Five unique factors underlie this success, including, among others, a sustained government commitment to public health systems and an indigenous capacity to produce pharmaceuticals domestically, the emergence of a civil society coalition built around the norm of health equity, and the international harmonization of quality assurance and clinical standards related to pharmaceutical research and development. While it is unlikely that other developing countries lacking indigenous manufacturing capacity can achieve similar results in the near to medium-term future, it is instead recommended that private foundations and large bilateral aid country providers invest in a global funding mechanism. This fund would use pre-existing, innovative financing mechanisms to scale up production in the handful of developing countries that have achieved near self-sufficiency in pharmaceutical production, for the benefit of populations beyond their borders.
Topic:
Health Care Policy
Political Geography:
Brazil, South America, and Latin America

18. Do Public Development Banks Hurt Growth? Evidence from Brazil

Author:
Monica de Bolle
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Public lending by the Brazilian Development Bank (BNDES) may have done more harm than good in Brazil, adversely affecting real interest rates and productivity growth. Specifically, BNDES's large amounts of subsidized lending are responsible for substantial credit market segmentation, choking off monetary policy transmission. As a result, to maintain price stability the Central Bank of Brazil is forced to raise interest rates more than it might do otherwise in the absence of BNDES lending. Restoring Brazil's capacity to grow in the medium term requires a thorough rethinking of the role of BNDES. In particular, the bank's lending rates should be aligned with market prices, term and risk premia, while taking into account that, with an adequate transparency framework, public development banks can increase private sector participation instead of crowding it out.
Topic:
Development, Economics, International Trade and Finance, and Markets
Political Geography:
Brazil and Latin America

19. Reforming National Oil Companies: Nine Recommendations

Author:
Patrick Heller, Paasha Mahdavi, and Johannes Schreuder
Publication Date:
07-2014
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Some national oil companies (NOCs) have contributed heavily to successful efforts to harness benefits from the oil sector and drive broader national development. In other cases, however, NOCs have become inefficient managers of national resources, obstacles to private investment, drains on public coffers, or sources of patronage and corruption. As such, NOC reform—incremental in some cases, fundamental in others—lies at or near the top of the policy agendas of many oil-rich countries. Building on existing literature, we surveyed 12 NOCs from diverse geographical and operational contexts to distill practical steps that policy-makers can take to make their countries' NOCs more effective and more accountable—to governments and to citizens. Our recommendations can be seen in both the executive summary and the full report.
Topic:
Oil, Transparency, Data, and State-Owned Enterprises
Political Geography:
Europe, Malaysia, Middle East, Kazakhstan, Norway, Asia, Kuwait, Brazil, Vietnam, Saudi Arabia, Latin America, Mexico, Nigeria, Angola, Ghana, Cameroon, and Sub-Saharan Africa

20. Beyond Haiti: Enhancing Latin American Military and Police Contributions to UN Peacekeeping

Author:
Bianca Selway
Publication Date:
04-2014
Content Type:
Policy Brief
Institution:
International Peace Institute (IPI)
Abstract:
With fifteen UN peacekeeping missions already in operation and another in the Central African Republic on the horizon, UN peacekeeping continues to be in high demand. Today, DPKO deploys more than 83,000 troops, 13,000 police, and 2,000 observers, contributed voluntarily by member states. A majority of these are provided by African and South Asian member states, which together provide 74 percent of the UN's uniformed personnel. Latin America has a longstanding history of participating in UN peacekeeping, stretching back more than fifty years to some of the earliest peacekeeping operations. At present, Latin America contributes almost 7 percent of all UN troops and nearly 2 percent of UN police. Two Latin American states occupy spots in the group of top twenty uniformed contributors: Uruguay with a total of 2,164 uniformed personnel and Brazil with 1,755. Latin American contributions are predominantly military contributions (as opposed to police) to the United Nations Stabilization Mission in Haiti (MINUSTAH), with support to missions in sub-Saharan Africa amounting to less than 2 percent of the total uniformed deployments to the region.
Topic:
International Cooperation, United Nations, Foreign Aid, and Peacekeeping
Political Geography:
Africa, South Asia, Brazil, United Nations, and Latin America

21. Pathways to Security Council Reform

Author:
Richard Gowan and Nora Gordon
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
Center on International Cooperation
Abstract:
International pressure for substantial reforms to the United Nations Security Council (UNSC) is mounting, fueled in part by its abysmal performance in the Syrian crisis. Yet major obstacles to reform remain. Three of the five permanent members of the Council (China, Russia and the US) are opposed or at least skeptical towards any significant changes to the institution in the near future. There is still a lack of common vision for change amongst the various coalitions and regional groups involved in the debate in New York, and policy-makers outside the immediate orbit of the UN address the issue sporadically, if at all. A concerted push for reform by the "G4" aspirants for new permanent Council seats (Brazil, Germany, India and Japan) in 2011 did not result in a vote as it failed to elicit the required support of two-thirds majority in the General Assembly.1It is not clear that the current frustration over the Council's response to Syria can be translated into a concrete agenda for reform that could win a greater level of support in the immediate future.
Topic:
International Cooperation, United Nations, and Reform
Political Geography:
Africa, Japan, India, Brazil, and Germany

22. Migrant and Refugee Integration in Global Cities: The Role of Cities and Businesses

Author:
Teressa Juzwiak, Elaine McGregor, and Melissa Siegel
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
This policy brief considers how businesses and governments in global cities contribute to the integration of migrant and refugee populations, either through outreach, specialized programmes, the provision of services, or targeted funding of non-governmental organizations (NGOs); and to what extent these contributions can be deepened or expanded. The research involved the study of eight cities around the world representing a diversity of immigration experiences: Auckland (New Zealand), Buenos Aires (Argentina), Chicago (USA), Kuala Lumpur (Malaysia), Lisbon (Portugal), Nairobi (Kenya), Rotterdam (The Netherlands), and São Paulo (Brazil).
Topic:
Non-Governmental Organization, Immigration, and Governance
Political Geography:
Kenya, Malaysia, Brazil, Lisbon, Portugal, New Zealand, Chicago, and Kuala Lumpur

23. The Brazil-Norway Agreement with Performance-Based Payments for Forest Conservation: Successes, Challenges, and Lessons

Author:
Nancy Birdsall, Frances Seymour, and William Savedoff
Publication Date:
08-2014
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
In March 2004, the Brazilian government initiated a range of policies and enforcement actions (under the Action Plan for Preservation and Control of Deforestation in the Legal Amazon) that brought sharp reductions in the rate of deforestation. In 2008, Brazil signed an agreement with Norway to receive payments during a 5-year period for bringing greenhouse gas emissions from deforestation below a 10-year average (1996–2005). Norway pledged up to US$1 billion for this agreement, which stipulated that these funds would be donated to the Amazon Fund (Fundo Amazônia), managed by the Brazilian National Development Bank and invested in actions to prevent deforestation and to promote the conservation and sustainable use of the Amazon biome.
Topic:
Climate Change, Treaties and Agreements, and Natural Resources
Political Geography:
Norway and Brazil

24. Estimates of Fundamental Equilibrium Exchange Rates, November 2014

Author:
William R. Cline
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
This semiannual review finds that most of the major international currencies, including the US dollar, euro, Japanese yen, UK pound sterling, and Chinese renminbi, remain close to their fundamental equilibrium exchange rates (FEERs). The new estimates find this result despite numerous significant exchange rate movements associated with increased volatility in international financial markets at the beginning of the fourth quarter of 2014, and despite a major reduction in the price of oil. The principal cases of exchange rate misalignment continue to be the undervalued currencies of Singapore, Taiwan, and to a lesser extent Sweden and Switzerland, and the overvalued currencies of Turkey, New Zealand, South Africa, and to a lesser extent Australia and Brazil. Even so, the medium-term current account deficit for the United States is already at the outer limit in the FEERs methodology (3 percent of GDP), and if the combination of intensified quantitative easing in Japan and the euro area with the end to quantitative easing in the United States were to cause sizable further appreciation of the dollar, an excessive US imbalance could begin to emerge.
Topic:
Economics, Foreign Exchange, International Trade and Finance, and Monetary Policy
Political Geography:
Africa, United States, Japan, Turkey, South Africa, Brazil, and New Zealand

25. Why Brazil has not criticised Russia over Crimea

Author:
Oliver Stuenkel
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
Norwegian Centre for Conflict Resolution
Abstract:
Emerging powers frequently stress the importance of sovereignty and the inviolability of international law. As a consequence, many Western observers expected that emerging powers such as Brazil would be quick to condemn Russia's annexation of Crimea. Yet Brazil remained neutral and abstained from the UN General Assembly resolution that criticised Russia. Together with the other BRICS countries, it opposed suggestions to exclude Russia from the G-20, thus markedly reducing the effectiveness of Western attempts to isolate President Putin. Brazil's unwillingness to criticise Russia may have less to do with its opinion on Russia's annexation of Crimea per se and more to do with Brasília's scepticism of Western attempts to turn Russia into an international pariah. From Brasilia's perspective, pushing countries against the wall is rarely the most constructive approach. In addition, many in Brazil are wary of a global order that privileges the U.S. and allows it to flout many norms that apply to everyone else, arguing that these double standards are far more damaging to international order than any Russian policy. Finally, Russia annexed Crimea at a time when anti-Americanism around the world still runs high as a consequence of the NSA spying scandals, making alignment with U.S. positions politically costly at home.
Topic:
Emerging Markets, Politics, and Sovereignty
Political Geography:
Russia, Europe, Asia, Brazil, and South America

26. Will Brazil Get What It Expects from the World Cup?

Author:
Ricardo Sennes
Publication Date:
06-2014
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Like any other international mega-event, hosting the FIFA World Cup brings the promise of a positive long-term legacy for Brazil. It is a unique opportunity for visibility among more than 3 billion people worldwide who will either attend or watch the games on television. The exposure from the games has the potential to draw national and international investments before, during, and after the thirty-two teams compete for the Cup.
Topic:
Civil Society and Economics
Political Geography:
Brazil and South America

27. The BRICS Development Bank: Why the world's newest global bank must adopt a pro-poor agenda

Author:
Lysa John
Publication Date:
06-2014
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
In July 2014, a new multilateral and Southern-led development bank is expected to be launched by the leaders of Brazil, Russia, India, China and South Africa – better known as the BRICS. The BRICS Development Bank will provide a fresh source of finance for developing and emerging economies to meet their development needs. Little has been made public regarding the proposed Bank's core mandate or activities but while governments negotiate the technicalities of the Bank, it is critical that they also provide a solid vision of the principles, priorities and objectives on which the Bank's activities and operations will be premised. This policy brief recommends that these include commitments to: ending extreme poverty and inequality, with a special focus on gender equity and women's rights; aligning with environmental and social safeguards and establishing mechanisms for information sharing, accountability and redress; leadership on the sustainable development agenda; the creation of mechanisms for public consultation and debate; and the adoption a truly democratic governance structure.
Topic:
Development, Economics, Gender Issues, International Cooperation, and Poverty
Political Geography:
Africa, Russia, China, Europe, India, Asia, South Africa, Brazil, and South America