Economic development in a dynamic world

This plenary session was moderated by** Enrique Szwach, president at the Evaluadora Latinoamericana S.A., and counted with the panellists Reinaldo Salgado, Counsellor Minister at Embassy of Brazil in Argentina, and Sajeev Babu, Counsellor Minister at Embassy of India in Argentina**. In this session, the three speakers took different stand points to debate the role of the BRICs – Brazil, Russia, India and China – and their relative importance in the present economic dynamics.

Enrique Szwach started his dissertation pointing out that the BRIC have become the locomotive of world economic growth since the financial crisis. He then passed the word to Reinaldo Salgado, who argued that the countries of the BRIC keep providing the world with good news, in spite of the crisis in the core of the economic system. The countries of the BRIC alone were responsible for 76% of the growth of the world demand of 2010, and have kept annual economic growth rates of almost 10% over the past years. According to Salgado, Brasil managed to achieve economic growth and still foster social inclusion and preserve the balance of its Tax Policy (the lowest-income class passed from 49 million people in 2003 to “only” 16 million people presently).

On his side, Mr. Babu told the participants about the cultural diversity in India, one which takes place in continent counting 22 countries, over 20 languages and 1000 dialects. Furthermore, Mr. Babu focused his exposition on the domestic development, the growth of the new middle-class’s demand (300 Milion people), and the challenges of making the benefits of technology reach the poorest and rural sectors of society, in spite of the lack of infra-structure.