Can the BRICS help global capitalism escape its crisis?

Adrian Budd

International Journal of Management Concepts and Philosophy, 2012, vol. 6, issue 3, 135-147

Abstract: This paper explores the argument that the so-called four BRIC or the five BRICS economies can help rescue the global economy from its current crisis. It reviews the arguments for the positive role of these developing economies and then urges a series of reasons for caution about their capacity to act as an independent element in global economic recovery. It also draws attention to the differences between these economies and the need to consider the way that economic issues are related to geo-political considerations in the global system.

Keywords: BRIC economies; BRICS; China; global economic crisis; capitalism; Brazil; Russia; India; China; South Africa; financial crisis; geo-politics. (search for similar items in EconPapers)
Date: 2012
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