Emerging Markets

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Remarks by President Obama to the People of Africa

President Barack Obama spoke at the African Union headquarters in Addis Ababa on July 28, 2015. He discussed the ten year renewal of the African Growth and Opportunity Act and additional reforms and other assistance the United States and African leaders work on to increase trade, investment, and growth on the continent. He also addressed the need for presidents to respect term limits and transfer power peacefully and for nations to provide equal treatment for women and girls.

See more in Africa (sub-Saharan); United States; Emerging Markets; Economic Development

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Ufa Declaration of the Seventh BRICS Summit

Leaders from Brazil, Russia, India, China, and South Africa met on July 9, 2015, in  Ufa,  Russia for the  Seventh BRICS Summit, which marked the entry into force of the BRICS's New Development Bank (NDB), which the leaders expect to begin accepting investment requests in the beginning of 2016. The declaration also states the leaders' concerns on international security issues such as corruption, nuclear weapons, instability and conflict, and terrorism, and their commitments to social issues like global health and education.

See more in Global; Emerging Markets; Global Governance

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U.S.-India Joint Statement: "Shared Effort; Progress for All"

U.S. President Barack Obama and Indian President Narendra Modi made this joint statement on January 26, 2015. They discussed clean energy and climate change, civil nuclear cooperation, and defense and economic cooperation. Both administrations also discussed their visions to strengthen ties in the Asia-Pacific region. Defense secretaries from both countires met in June 2015 and released the U.S.-India Defense Framework.

See more in United States; India; Renewable Energy; Emerging Markets


BRICS: To Dismiss or Not to Dismiss?

Author: Julia E. Sweig
Folha de Sao Paulo

With the launch of the New Development Bank at the BRICS Summit yesterday in Fortaleza, Brazil, Julia Sweig highlights the potential impact of the new bank and why the United States should pay attention.

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Primary Sources

Fortaleza Declaration of the Sixth BRICS Summit

The sixth summit of the BRICS (Brazil, Russia, India, China, South Africa) countries met in Fortaleza, Brazil, on July 15, 2014. The theme of discussions was "Inclusive Growth: Sustainable Solutions" and the declaration detailed progress in establishing the BRICS's New Development Bank, which was first discussed in the 2013 Durban Joint Statement.

See more in Global; Emerging Markets; International Organizations and Alliances

Must Read

Breaking Views: Greece Unbound

Author: Hugo Dixon

"The reopening of the markets to Greece also means it probably no longer faces a funding gap, which the last official projections by its creditors put at 15 billion euros over the next two years."

See more in Europe; Emerging Markets

Foreign Affairs Article

Six Markets to Watch: Turkey

Author: Daniel Dombey

For much of last year, Turkey's economy seemed almost on top of the world. In May, as huge construction projects moved ahead, Ankara paid off its remaining debt to the International Monetary Fund, ending what seemed to many Turks a long history of humiliation.

See more in Turkey; Emerging Markets