BRICS-JUST AN ACRONIM?

Botis Sorina
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Botis Sorina: TRANSILVANIA UNIVERSITY OF BRASOV, FACULTY OF ECONOMIC SCIENCES AND BUSINESS ADMINISTRATION

Annals - Economy Series, 2013, vol. 5, 10-17

Abstract: The aim of this paper is to present the main economic developments of the most important emerging economies, brought together under the name of the BRICS, in the light of new economic and political positions which these countries tend to occupy in the current global context. The study is significant being a comparative presentation between the BRICS Group countries, Brazil, Russia, India, China and South Africa and the G-7 countries, as well as by providing a variety of statistical data for the period 2010-2012, helping thus to highlight more strongly, the amazing economic evolution of these countries. It can be concluded that currently, according to trends in the world economy, emerging economies tend to lean the balance in their favor and to the detriment of the Western developed economies. Their success is based on an economic policy focused on investment, unlike the U.S., Japan and European countries in the G-7, geared mainly on consumption. The foreign direct investment mainly concerns to the transport infrastructure, communications, business services, energy and natural resources sectors. However, the European market remains attractive for foreign investors, the difficulties and the uncertainties facing the eurozone being outweighed by the presence of a significant number of consumers with high purchasing power, by providing high technology and professional skills , and last but not least, by the benefits of a strong developed infrastructure. Keywords: emerging economies, developed economies, BRICS, G-7, foreign direct investment, foreign exchange reserves

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2013:v:5:p:10-17

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