BRICS Business Magazine English Edition No.4

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There are many indicators that enable us to assess the state of affairs at home and in the world as a whole. However, to view potential one has to conduct a thorough analysis of the primary sources of development, which include education. If education is not taken into account there is no point in talking about human capital, the quality of which varies with time. The same can be said about the level of education. In this century people need knowledge and skills that differ to those required in the past century. Modern education systems should meet these needs. At the same time, society has to have a need for educated people and be ready to engage them.

Everyone wants to know when BRICS GDP will equal that of the United States and the European Union combined. But it is no less important to know what these countries will be like in the future, including social, cultural and technological characteristics; which development models they will adopt and how the mentality and work ethic of their citizens will transform. The development of education in the BRICS countries is one of the key factors that let us make predictions about the items in the above-mentioned list.


The idea that creating and supporting schools and universities that can compete globally must be a key national strategic priority and in one way or another is a part of the programme of every head of state and has been discussed ad nauseam. Nevertheless, little is actually done in this sphere. Education changes at a snail’s pace and leaders often lack the consistency and patience required to bring their programmes to fruition as the achievement of fast results takes priority.


Investing in educational institutions is a good example of sensible, pragmatic long-term planning, even if it results in losses. In a sense, education is an issue of national security and is the guarantee that countries (especially developing ones) will have enough ideas and educated citizens to ensure that they continue to progress. There is no such thing as superfluous effort when it comes to education. Besides this, I can say from personal experience that projects related to education are warmly welcomed by people who have changed the world for the better.


Authors & Experts

Karl Johansson
Karl Johansson

EY Regional Managing Partner

Justin McGuirk
Justin McGuirk

Winner of the Venice Architectural Biennale’s Golden Lion Award, columnist for The Guardian

Ndubuisi Ekekwe
Ndubuisi Ekekwe

President of the First Atlantic University

Alexei Chaplygin
Alexei Chaplygin

Education Ranking Director at Interfax

Bill Hutchison
Bill Hutchison

Executive Director of EY’s Center for Smart City Innovation, Chairman of i-CANADA Alliance

Jane Playdon
Jane Playdon

Education Writer for TopUniversities.com

Denis Konanchuk
Denis Konanchuk

Head of the SKOLKOVO Education Development Centre

Ricardo Hausmann
Ricardo Hausmann

Former Minister of Planning of Venezuela, Professor of the Practice of Economic Development of Harvard University

Raghuram Rajan
Raghuram Rajan

Governor of the Reserve Bank of India

Dani Rodrik
Dani Rodrik

Albert O. Hirschman Professor of Social Science at the Institute for Advanced Study

Vasily Baburov
Vasily Baburov

Urbanist and architecture critic

Charles Robertson
Charles Robertson

Global Chief Economist at Renaissance Capital

Saskia Sassen
Saskia Sassen

Robert S. Lynd Professor of Sociology Co-Chair of the Committee on Global Thought, Columbia University

Andrés Velasco
Andrés Velasco

Former presidential candidate and Finance Minister of Chile

Joschka Fischer
Joschka Fischer

Former Foreign Minister and Vice Chancellor of Germany

Sergey Zhvachkin
Sergey Zhvachkin

Governor of Tomsk Oblast, Russia

Jorge G. Castañeda
Jorge G. Castañeda

Former Secretary of Foreign Affairs of Mexico, Global Distinguished Professor of Politics and Latin American and Caribbean Studies at New York University

Wilson Nunes Martins
Wilson Nunes Martins

Governor of the state of Piauí, Brazil

Alexander Bazarov
Alexander Bazarov

Member of the Executive Board and Senior Vice President of Sberbank of Russia, Deputy Head of Sberbank CIB

Robert J. Shiller
Robert J. Shiller

2013 Nobel Laureate in Economics, Sterling Professor of Economics at Yale University

Kenneth Rogoff
Kenneth Rogoff

Thomas D. Cabot Professor of Public Policy at Harvard University, former Chief Economist of the International Monetary Fund

Javier Solana
Javier Solana

President of the ESADE Center for Global Economy and Geopolitics, former Secretary General of NATO

Eugenia Slouchak
Eugenia Slouchak

Managing Partner at Europe Finance

Jaswant Singh
Jaswant Singh

Former Minister of Finance, Foreign Minister and Minister of Defence of India

Andrei Sharonov
Andrei Sharonov

Dean of Moscow School of Management SKOLKOVO, Moscow city’s Mayor Advisor

Zola Tsotsi
Zola Tsotsi

Chairman of the Board of Directors at Eskom Holdings

Li Tie
Li Tie

Director-General of the China Center for Urban Development

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