THE PART OF BRICS COUNTRIES IN INTERNATIONAL TRADE EXCHANGES

Ion Rosu-Hamzescu and Niculina Rosu-Hamzescu
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Ion Rosu-Hamzescu: University of Craiova Faculty of Economics and Business Administration
Niculina Rosu-Hamzescu: Romanian-American University

Annals of University of Craiova - Economic Sciences Series, 2011, vol. 1, issue 39, 124-131

Abstract: The hereby paper aims at highlighting the outstanding contribution of the emerging BRICS economies to international affairs. Cooperation can be currently noticed among four emerging economies: Brazil, Russia, India, China and South Africa. Considering that the recent financial crisis is an illustration of actual monetary shortcomings, BRICSs represent an alternative of stability. This group of countries states that the emerging economies are being threatened by massive capital inflows and is concerned with the volatility of raw material prices. For investors, BRICS countries represent incredible opportunities for growth and economic development, far more sustainable than with Western economies. The quality and sustainability of global economic recovery largely depend on the performance of BRICS economies. BRICSs play an important part in developing dialogue and cooperation among member states, based on transparency, solidarity and mutual assistance. Hence, it becomes obvious that, given the economic growth rate, one of the major goals of BRICSs consists in competing with Western economies. A strong and sustained economic growth of BRICSs is envisaged, based on developing cooperation in the economic, financial and trade field.

Keywords: BRICS; emerging economies; economic development; sustainability (search for similar items in EconPapers)
JEL-codes: F02 F13 F36 F53 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2011:i:39:p:124-131

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