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Introduction

Xiaolan Fu and Luc Soete

A chapter in The Rise of Technological Power in the South, 2010, pp 1-12 from Palgrave Macmillan

Abstract: Abstract The rise of the emerging economies, especially the Golden BRICS (Brazil, Russia, India, China and South Africa), is changing the landscape of the world economy. These economies have experienced fast economic growth in the past two decades (at least), and are emerging as important economic forces in the global economy. For the past three decades, the average annual gross domestic product (GDP) growth rate of China, for instance, has been as high as 9.8 per cent. This is much higher than the average 3.0 per cent annual growth rate of the world economy. In 2007, the annual GDP growth rate percentage was 13.0 in China, 9.1 in India, 8.1 in Russia, 5.4 in Brazil and 5.1 in South Africa. Again, this is much higher than the world average growth rate of 3.8 per cent in the same year. By 2007, China was ranked amongst the four largest economies in the world in terms of total GDP.

Keywords: Foreign Direct Investment; Gross Domestic Product; Absorptive Capacity; Purchase Power Parity; Domestic Firm (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-27612-3_1

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DOI: 10.1057/9780230276123_1

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