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Full Description
One of the significant features of post-World War II global economic development has been the accelerated rise of emerging markets, which have become important forces in leading global economic development as well as in changing global politics and economics. The 1990s saw the rise of a group of large emerging markets including China, India, Brazil, Indonesia, Mexico, Turkey, South Africa and Vietnam.
The rapid development of these large emerging markets has brought stability and prosperity to the world economy and brought impetus to the reform of global governance systems. Among them, China, India, Russia, Brazil and South Africa are grouped under the acronym BRICS, and their rapid rise in recent years make them the new engines of global economic growth and important forces of global governance.
This book analyses the relationships between emerging markets with a particular focus on the BRICS. It explores how mutual cooperation has boosted the growth of these countries. It discusses foreign trade and economic development as well as fiscal reform and financial reform of the BRICS. Regional development and cooperation of the BRICS is also examined.
China plays a pivotal role within the BRICS and China also has growing financial influence across the globe. This study offers a unique insight into emerging markets in general and BRICS in particular from a Chinese perspective. A rising China may play a key and decisive role in the sustained development of emerging markets rather than being at the periphery of western international policies.
