At the dawn of the 21st century, there were already clear signals of the economic decline the United States and Europe were facing. As opposed to it, countries that, in the course of history, have always been categorized as part of the developing world, have indeed in the last decades experienced a rapid economic development. In 2001 Goldman Sachs’ collaborator Jim O’Neill grouped these countries under the Acronym of BRIC, which stands for Brazil, China, India and Russia. Eventually the name became BRICS including South Africa among those countries.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- The new emerging economies
- China
- eastern Asia
- India
- Brazil
- South Africa
- A challenge ahead for the U.S. and the E.U.?
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This work examines the economic rise of BRICS countries and its impact on the global political economy. It analyzes the factors contributing to their development and explores the challenges they pose to the established world order.
- Economic growth and development of BRICS countries
- Shifting power dynamics in the global political economy
- Role of BRICS countries in international institutions
- Impact of BRICS on the US and EU's economic status
- Potential for BRICS' continued economic growth
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides an overview of the economic decline faced by the US and Europe in the early 21st century, contrasting it with the rapid growth of BRICS countries. It introduces the concept of BRICS, their economic potential, and their role in the world political economy.
- The new emerging economies: This section presents an analysis of each BRICS country, exploring their economic development and key characteristics. It highlights the factors contributing to their rise, such as access to raw materials, skilled labor, and strong domestic markets.
- A challenge ahead for the U.S. and the E.U.?: This chapter examines the implications of BRICS' emerging power on the status of the US and EU as world economic leaders. It explores how the BRICS countries are reshaping the global economic geography and politics, posing a potential challenge to the existing world order.
Schlüsselwörter (Keywords)
BRICS, emerging economies, global political economy, economic growth, development, power dynamics, world order, US, EU, international institutions, multilateralism, globalization, economic geography, strategic partnerships.
- Quote paper
- Pablo Bernardino Sanchez Arias (Author), 2014, Global political economy. Consequences of the current transformations, Munich, GRIN Verlag, https://www.grin.com/document/275719
