IBSA Dialogue ForumThe IBSA Dialogue Forum (India, Brazil, South Africa) is an international tripartite grouping for promoting international cooperation among these countries. It represents three important poles for galvanizing South–South cooperation and greater understanding between three important continents of the developing world namely, Africa, Asia, and South America. The forum provides the three countries with a platform to engage in discussions for cooperation in the field of agriculture, trade, culture, and defence among others.
Jim O'Neill, Baron O'Neill of GatleyTerence James O'Neill, Baron O'Neill of Gatley (born 17 March 1957) is a British economist best known for coining BRIC, the acronym that stands for Brazil, Russia, India, and China—the four once rapidly developing countries that were thought to challenge the global economic power of the developed G7 economies. He is also a former chairman of Goldman Sachs Asset Management and former Conservative government minister. As of January 2014, he is an Honorary Professor of Economics at the University of Manchester.
Emerging powerAn emerging power or rising power is a state or union of states with significant rising influence in global affairs. Such a power aspires to have a more powerful position or role in international relations, either regionally or globally, and possess sufficient resources and levels of development that such goals are potentially achievable. There are few available conceptualizations of the term "emerging power". Therefore, there is no standard or agreed method to decide which states are emerging powers.
Regional powerIn international relations, since the late 20th century, the term "regional power" has been used for a sovereign state that exercises significant power within a given geographical region. States that wield unrivaled power and influence within a region of the world possess regional hegemony. Regional powers shape the polarity of a regional area. Typically, regional powers have capabilities which are important in the region, but do not have capabilities at a global scale. Slightly contrasting definitions differ as to what makes a regional power.
International Monetary FundThe International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
G20The G20 or Group of 20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development. The G20 is composed of most of the world's largest economies' finance ministries, including both industrialised and developing nations; it accounts for around 80% of gross world product (GWP), 75% of international trade, two-thirds of the global population, and 60% of the world's land area.
IndustrialisationIndustrialisation (UK) or industrialization (US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing. Industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies.
Luiz Inácio Lula da SilvaLuiz Inácio Lula da Silva (luˈiz iˈnasju ˈlulɐ dɐ ˈsiwvɐ; born Luiz Inácio da Silva; 27 October 1945), also known as Lula da Silva or simply Lula, is a Brazilian politician who is the 39th and current president of Brazil. A member of the Workers' Party, he previously served as the 35th president of Brazil from 2003 to 2010. Of working-class origin, Lula migrated as a child from Pernambuco to São Paulo with his family. As a teenager, he began his career as a metalworker and became a trade unionist.
Manmohan SinghManmohan Singh (mənˈmoːɦən ˈsɪ́ŋɡ; born 26 September 1932) is an Indian politician, economist, academician and bureaucrat who served as the 13th Prime Minister of India from 2004 to 2014. He is the third longest-serving prime minister after Jawaharlal Nehru and Indira Gandhi. A member of the Indian National Congress, Singh was the first Sikh and non-Hindu prime minister of India. He was also the first prime minister since Jawaharlal Nehru to be re-elected after completing a full five-year term.
Currency unionA currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market). There are three types of currency unions: Informal – unilateral adoption of a foreign currency. Formal – adoption of foreign currency by virtue of bilateral or multilateral agreement with the monetary authority, sometimes supplemented by issue of local currency in currency peg regime.
