CEE Chamber’s Post

about BRICS benefits: BRICS: A New Era of Global Economic Cooperation The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, represents a powerful shift in global economic dynamics. This strategic partnership has emerged as a significant force in reshaping international trade and financial systems. Economic Impact At its core, BRICS unites over 40% of the global population, creating an unprecedented market opportunity. The alliance's combined economic strength challenges traditional Western-dominated financial systems, offering member nations greater autonomy in international trade and development. Financial Independence Perhaps most significantly, BRICS is developing alternatives to the US dollar-based trading system. The New Development Bank, established by BRICS, provides crucial funding for infrastructure and sustainable development projects, reducing dependence on Western-controlled institutions like the World Bank and IMF. Trade Advantages Member nations benefit from preferential trade agreements, streamlined customs procedures, and reduced tariffs. This internal cooperation has created a robust marketplace where nations can trade in their local currencies, significantly reducing transaction costs and exchange rate risks. Technological Growth The alliance promotes substantial technology transfer and joint research initiatives. From space exploration to artificial intelligence, BRICS countries share expertise and resources, accelerating technological advancement across member states. Development Opportunities Smaller economies within BRICS gain access to larger markets and investment opportunities. Knowledge sharing in sectors like agriculture, healthcare, and education has led to significant developments in member countries' social infrastructure. Future Prospects The alliance continues to attract interest from other nations, with several countries applying for membership. This expansion could further strengthen BRICS' position in global economics and politics. Conclusion BRICS represents more than just an economic alliance; it's a paradigm shift in global cooperation. By offering alternatives to traditional Western-dominated systems, BRICS provides its members with greater autonomy, development opportunities, and collective strength in the global marketplace. As the alliance grows and evolves, its influence on global economic patterns and international relations will likely continue to expand.

The transform! europe Economics Working Group has just published our analysis of #Draghi's Report for the new Commission.   The report deliberately blurs the distinction between competition and competitiveness.   We embed our analysis in the wider context of other strategy papers which have been published recently, hence situating the report in the new geopolitical regime of the EU, as well as the coming 'return of the monster': national #austerity.   We criticize transnational top-down bureaucratic investment strategies while simultaneously forcing social and environmental cuts in national budgets. It seems obvious that the #CMU is one of the main goals of the next COM - and not the €800 bn p/a fund -->privatization / commodification of our pension, health and elderly care can be expected, where else should the money for privatized industrial policy come from?   We end with some positive notes for points of intervention for progressive forces, using also other papers, like the Political Guidelines. https://lnkd.in/eDDtpka6

How can countries build resilient economies and resist economic coercion? Asia Society Policy Institute's Director of Asian Economic Affairs Shay Wester's latest article summarizes key learnings from an international conference in Lithuania. Read it here: https://lnkd.in/ePsQxTce ✖ Current challenge #1: Economic coercion is a growing challenge to the rules-based trading system, driven by the rise of geopolitical tensions and the weaponization of interdependence by major powers. ✖ Current challenge #2: Balancing economic openness and security in an era of geo-economic competition is a critical challenge, with tensions between the desire for multilateral responses and the difficulties of reform given current geopolitical realities.  ✔ Recommendation #1: Countering economic intimidation effectively requires a strategy spanning national, mini-lateral, and multilateral levels. This includes reducing strategic vulnerabilities, diversifying trade ties, strengthening partnerships, and updating trade rules.  ✔ Recommendation #2: Multilateral institutions, including the G7 and OECD, play crucial roles in norm setting, trust building, and practical coordination. ✔ Recommendation #3: The private sector is a vital partner in the fight against economic coercion and should be better represented in future conferences on this subject. Creating incentives for developing alternative sourcing strategies and de-risking are necessary.

The partners of the Indo-Pacific Economic Framework signed the #CleanEconomy and fair economy agreements. Signing of IPEF's agreements marks a significant step in the #US's efforts to strengthen economic cooperation and reduce reliance on #China in the region. Read more at: https://lnkd.in/gsWBeSsQ #worldeconomy #indopacific #IBT #IBTInsights

#FeelingProud ZOE Institute for Future-fit Economies is one of the research organisations named in Mario Draghi’s recent report on the Future of EU Competitiveness – a report set to shape EU industrial policy and economic policy for years to come. At the same time, when I look at the pages of acknowledgements, I wish there were more fresh voices like ours. It is very much a list of incumbents. I don’t see many champions of clean industry, nor regional representatives – which could help explain why the potential of currently left behind EU regions to contribute to competitiveness continues to be overlooked. Europe needs new solutions to the challenges we face. Listening to the same old actors is unlikely to lead to different answers. #draghi #competitiveness #industrialpolicy #neweconomics 

Very very few voices representing health (glad to see European Patients' Forum & EURORDIS-Rare Diseases Europe though), and missed opportunity to gain and include insights from underrepresented, marginalised communities, #socialrights, wider #publichealth, #healthinequities, #wellbeing CSOs stakeholders or institutions dealing with health on a daily basis. Could not agree more with saying that we need new solutions to address the challenges we all - regardless of where we sit on the social ladder - face. Lived experience of communities and populations left behind, looking at competitiveness and boosting innovation via multiple angles including human and social capital, health, equity and well-being of today's and future generations are central part of how prosperous and shock-resilient Europe will be.

This brief emanates from Aniekan's excellent interdisciplinary PhD thesis at Wageningen University I supervised. If you are interested in how special and differential treatment in the WTO could be made to work better for economic development and advance the integration of developing countries in the world trading order, I recommend reading this. The underlying idea is that special and differential treatment should be graduated according to objective agreement or provision specific criteria thereby setting out milestones on the path to economic development and a progressive reduction in special and differential treatment.

South America's political landscape is undergoing significant transformations, marked by economic upheavals, leadership changes, and shifting international alliances. In Argentina, the recent election of far-right candidate Javier Milei as president signifies a departure from the nation's traditional political dynamics. Milei's administration is anticipated to implement radical economic reforms to address the country's persistent financial challenges. Meanwhile, Bolivia is grappling with a severe economic crisis characterized by fuel shortages and escalating food prices, leading to widespread public discontent and protests. The government's response and its ability to stabilize the situation remain critical concerns. On the international front, the European Union and Mercosur are striving to finalize a comprehensive trade agreement after over two decades of negotiations. This pact aims to reduce tariffs and foster economic integration between Europe and South America. However, it faces opposition from various sectors, including European farmers concerned about competition and environmentalists worried about ecological impacts. Simultaneously, China's influence in the region continues to expand, exemplified by the development of the Chinese-built Port of Chancay in Peru. This strategic infrastructure project is poised to enhance trade routes between South America and Asia, underscoring China's growing economic footprint. These developments prompt critical reflections: How will Argentina's new leadership navigate its economic recovery, and what implications will this have for its democratic institutions? Can Bolivia's government effectively address the economic turmoil to prevent further social unrest? Will the EU-Mercosur trade agreement balance economic benefits with environmental and social concerns? How should South American nations manage the increasing influence of external powers like China to safeguard their sovereignty and promote sustainable development? As the region stands at this crossroads, the interplay between domestic policies and international relations will shape South America's trajectory in the coming years. This post was generated by my custom-built personal agent, powered by LLMs and designed to operate my computer. If you're curious about how it works, feel free to ask!

Thailand is actively pursuing membership in the Organisation for Economic Co-operation and Development (OECD), with significant progress marked by key developments. Here’s a timeline detailing these efforts: January 2024: Approval of Intent to Join OECD In January 2024, the Thai Cabinet approved a formal letter of intent to join the OECD. This decision underscored Thailand’s commitment to aligning with international standards, aiming to enhance its economic policies, governance, and competitiveness. March 2024: Prime Minister’s Visit to Germany During his visit to Germany in March 2024, Prime Minister Srettha Thavisin emphasized Thailand's aspirations to join the OECD and sought support from Germany. Discussions with German Chancellor Olaf Scholz included cooperation in clean energy, sustainable agriculture, and infrastructure development. The Prime Minister expressed hope that Germany would support Thailand’s bid for OECD membership. April 2024: Strategic Partnership with New Zealand In April 2024, Thailand strengthened its international alliances by upgrading its strategic partnership with New Zealand. This partnership includes cooperation in various sectors such as security, trade, science, technology, and culture. New Zealand’s support for Thailand’s OECD bid was a significant diplomatic achievement, illustrating broad international endorsement. May 2024: Continued Reforms and Commitment By May 2024, Thailand continued to demonstrate its commitment to meeting OECD standards through various reforms aimed at enhancing transparency, efficiency, and sustainability in its economic and governance practices. These efforts are crucial for aligning with OECD requirements and achieving sustainable economic growth. Future Outlook and Implications Thailand’s pursuit of OECD membership represents a strategic move toward modernization and greater international cooperation. Membership in the OECD is expected to bring substantial economic and social benefits, including attracting foreign investment and improving governance standards. As Thailand progresses in its membership bid, it positions itself as a proactive player in the global economic arena, ready to adopt higher standards and contribute to international policy dialogues.

New Studio Europa Maastricht policy brief out with Aniekan Ukpe, PhD on "The EU and developing countries in the WTO: reforming special and differential treatment". Building on our earlier policy brief under the auspices of the Institute for International Trade | University of Adelaide, we now focus on how the EU should position itself in ongoing reform debates on rules for developing countries in the #WTO. In a world in which economic heterogeneity of countries is growing and increasingly cuts across ‘North-South’ divides, WTO members need to find new and convincing ways to address economic inequality in global trade governance As Europe seeks to transform and defend global economic governance, including through its 2019 reform proposal for special and differential treatment (SDT) in the WTO, we recommend a pragmatic, dual approach to SDT reform that could help to make its agreement-specific proposal more popular among WTO members. We recommend that the EU supports a layered approach that combines the introduction of sector-specific criteria for access to SDT with a pragmatic push for voluntary graduation. For the EU, this would entail compromising and giving up the proposal to introduce cross-cutting criteria for graduation from SDT. 👇 https://lnkd.in/euzVNFcY Thanks to Studio Europa Maastricht for the funding contribution and the opportunity.