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Impact of International Politics and Role of BRIC Countries

Impact of International Politics and Role of BRIC Countries

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Published by Somen Chatterjee

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Published by: Somen Chatterjee on Sep 13, 2010
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09/13/2010

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IMPACT OF INTERNATIONAL POLITICS ON GLOBAL ECONOMY : ROLE OF OPEC GROUP OF COUNTRIES

PREPARED BY : PROSEN DAS (PG09-77) SOMEN CHATTERJEE(PG09-103) STUTI SINGH (PG09-105) VINEETA SHARMA(PG09-119)

communications.Global Economy  Expansion of economies beyond national borders  Expansion of production by transnational corporations to many countries around the world. finance. and the labour force. . markets.  It includes the globalization of production.

INTERNATIONAL POLITICS International Politics is a range of link to foreign affairs department of Government around the world. . International Organizations as well as material on international trade and human rights.

INTERNATIOANL POLITICS AND GLOBAL ECONOMY The main three major aspects are: Capital movement at global level (FDI. FII) Labor movement Finished goods and services movement (Imports and Exports) It also affect Exchange Rates Currency domination .

Effect of international politics on the Global Economy .

United Kingdom. United States.Italy &Canada .Germany.G8summit 1975 G 8 Summit (1975)  Created by France in 1975  France.Japan.Russia.

Effect of the summit  June 26. 2010: The leaders of the Group of Eight (G8) industrial economies have pledged 5 billion dollars.3 billion dollars. To reduce child mortality and save women in poor countries from dying in childbirth  June 26. while non-members such as New Zealand.2010: Focus was on the crisis of Greece and the recent decision to establish a stabilization fund to support European countries experiencing economic difficulties. .  Israel attack: They aimed at helping countries to destroy stockpiles of nuclear weapons and preventing the spread of such technologies. Norway and the Bill and Melinda Gates Foundation have pledged a further 2.

 June 16 2008: Soaring Crude oil prices and agricultural commodity prices.Cont««««.. .

y They contribute 27% in the GDP of the world y They also contributes 11% of the Global Economy .ROLE OF OPEC IN GLOBAL ECONOMY y OPEC countries have 40% of total production of the world.

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SPECIAL ABOUT OPEC  OPEC was formed in Baghdad in 1960 to coordinate and unify the policies of petroleum exporting nations  The main objective of OPEC is to ensure the ³stabilization of oil prices in international markets´ and securing a steady income to oil producing nations  In order to achieve these objectives. and therefore have a strong influence on the oil market . the OPEC nations meet at least bi-annually to decide whether to raise or lower their collective oil production in order to maintain ³stable´ prices  The main factors in their formulating of petroleum policy are the forecasts for economic growth rates and petroleum demand and supply  The 12 OPEC member countries produce about 40% of the world¶s crude oil.

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