“Critical Evaluation of Global Trade, Financial Systems, and the Impact of International Agreements on Business and Sustainable Development: A Case Study of BRICS Nations”

ITFI report

General Instructions:

Font: Arial / Times New Roman

Font size: 12

Font colour: Black only

Headings: Size 14, Bold and underlined

Sub-headings: size 12 and Bold

Scenario

You are required to write a 3,000-word critical evaluation using any ONE country from BRICS nations (Brazil, Russia, India, China, and South Africa) as a case study to explore the following areas:

1. Title Page 2. Executive Summary:

Should include:

• What is the purpose of the report?• What does the report include (content)?• How was the research carried out?• What are the key benefits/findings of the report? 3. Table of Contents: 4. Introduction • Introduce BRICS. Give introduction to the selected country from BRICS nations. Explain why you selected the country. Give the country’s economic performance, GDP, interest rates, trade and overall progression.

Information should come from current credible sources.

5. Global Trade and Standards: • Provide an overview of the trade standards established by the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO), with specific reference to the BRICS (selected country) involvement and compliance • Critically assess how these standards, along with regional trade agreements involving BRICS, has shaped the integration of BRICS (selected country) into global markets. Analyse the varying levels of market openness among BRICS (selected country) and its impact on regional and global trade.

Apply any three trade theories to the selected country. A list of possible theories that you can use are:

• Ricardian Theory• Comparative Advantage Theory• Mercantilism• Absolute Advantage• Hecksher- Ohin Theory• Porter’s National Competitive Advantage Theory (also known as “Porter’s Diamond”)• Gravity Model• Leontief Paradox• Country Similarity Theory• Global Strategic Rivalry Theory• Product Life Cycle Theory

When covering this, you need to:

1. Identify and explain the three theories2. Apply the theories to the selected country 6. International Investment and Rights: • Critically evaluate the role of the World Bank, transnational investment agreements, and the New Development Bank (BRICS Bank) in promoting trade and investment among BRICS (selected country).• Provide examples of investment treaties involving BRICS (selected country)(e.g., China’s Belt and Road Initiative or Russia’s Eurasian Economic Union) and assess its impacts on both the national economies and businesses operating within and across these countries. 7. Financial Markets and Regulations: • Explain the financial systems and regulations governing long-term and short-term financing in the BRICS (selected country), noting the regulatory differences between these emerging economies.• Critically assess how changes in FX rates (e.g., fluctuations of the Indian rupee, Russian ruble, or Brazilian real) and interest rates influence trade and capital flows in BRICS (selected country), particularly regarding foreign direct investment (FDI) and export competitiveness.

You will apply some finance theories and concepts here such as:

➢ Fisher’s Law➢ Keynes’ Liquidity preference theory 8. Sustainable Development and Financial Systems: • Discuss the relationship between international trade, investment policies, and sustainable development across BRICS (selected country), addressing the challenges the country faces in balancing rapid economic growth with environmental and social governance (ESG) considerations• Examine specific examples of how BRICS (selected country) is addressing sustainable development, particularly in industries such as mining in South Africa, manufacturing in China, energy in Russia, and agriculture in Brazil and India.• Evaluate the role of the BRICS Bank in promoting sustainable development projects and infrastructure in the region. 9. Conclusion • Conclusion highlighting key findings from the rest of the work and reveal which would be the preferred country for investment and why. • Recommendations: (3 to 4) 1. Link recommendation to the purpose of the report Investment/expansion advice for selected country 2. Clearly outline key benefits associated with the financial benefits of the recommendations 3. Provide examples of success linked to applications of recommendations (e.g. the recent movement of Apple plc. operations from China to India)

List of References

Appendices

Suggested URLs:

https://testbook.com/learn/banking-awareness-financial-market-in-india/

https://country.eiu.com/Industry.aspx?Country=India&topic=Industry&subtopic=Financial+services

https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2022/01/china-financial-markets-trends-to-watch-in-2022.pdf

https://www.rba.gov.au/publications/bulletin/2021/sep/chinas-evolving-financial-system-and-its-global-importance.html

https://www.nber.org/papers/w30324

https://www.researchgate.net/publication/340816147_Theories_of_International_Trade_and_Investment_Contents

https://efinancemanagement.com/international-financial-management/international-trade-theory

https://tradingeconomics.com/countries

https://www.globalinnovationindex.org/analysis-comparison

General Data and current events:

India:

https://cuts-citee.org/india-corner/

https://www.orfonline.org/research/the-policy-and-operational-challenges-in-formulating-indias-new-ftp/

China:

https://www.interactanalysis.com/made-in-china-facing-multiple-challenges-as-manufacturing-industry-enters-pivotal-moment/

Roles of IMF and World Bank:

IMF Information:

https://www.imf.org/en/Countries/CHN# (IMF and China)

https://www.imf.org/external/datamapper/profile/IND

(IMF and India)

World Bank Information:

https://www.worldbank.org/en/who-we-are

https://www.worldbank.org/en/home

https://icsid.worldbank.org/cases

https://www.youtube.com/watch?v=zgDLl1tXd0s

https://www.worldbank.org/en/country/china/publication/china-economic-update-june-2022#:~:text=China’s%20economy%20is%20projected%20to,the%20December%20China%20Economic%20Update.

WTO:

https://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm

(Covers disputes between countries)

https://www.wto.org/english/tratop_e/dispu_e/dispu_by_country_e.htm

Note: Include citations for all secondary data used

Essential Reading

Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz (2014) International economics: theory and policy, 10 edition Pearson Education.

Print ISBNs: PB: 9781292019550, 1292019557

Recommended Reading

Frederic S. Mishkin, Stanley G. Eakins, (2012) Financial markets and institutions, 7th edition, Pearson Education. Print ISBN: 0273754440, 9780273754442

Petros Mavroidis, (2012) Trade in goods: the GATT and the other WTO agreements regulating trade in goods, Oxford.Print ISBN: 9780199657483, 0199657483

John H. Barton, Judith L. Goldstein, Timothy E. Josling, Richard H. Steinberg, (2006) The evolution of the trade regime: politics, law, and economics of the GATT and the WTO, Princeton University PressPrint ISBN: 0691124507, 9780691124506

John P. Lewis, Devesh Kapur, Richard Webb (1997) The World Bank: its first half century, Brookings Institution. Print ISBN: 081575230X, 0815752342

These instructions must be followed strictly!.

Let me know which country you would choose to write this report, thanks!