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The Part Of Brics Countries In International Trade Exchanges

Author

Listed:
  • Ion Rosu-Hamzescu

    (University of Craiova Faculty of Economics and Business Administration)

  • Niculina Rosu-Hamzescu

    (Romanian-American University)

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.

Suggested Citation

  • Ion Rosu-Hamzescu & Niculina Rosu-Hamzescu, 2011. "The Part Of Brics Countries In International Trade Exchanges," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(39), pages 124-131.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:39:p:124-131
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    File URL: http://feaa.ucv.ro/AUCSSE/0039v1-019.pdf
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    References listed on IDEAS

    as
    1. Peter Havlik & Olga Pindyuk & Roman Stöllinger, 2009. "Trade in Goods and Services between the EU and the BRICs," wiiw Research Reports 357, The Vienna Institute for International Economic Studies, wiiw.
    2. Jayati Ghosh & Peter Havlik & Marcos Poplawski-Ribeiro & Waltraut Urban, 2009. "Models of BRICs' Economic Development and Challenges for EU Competitiveness," wiiw Research Reports 359, The Vienna Institute for International Economic Studies, wiiw.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    BRICS; emerging economies; economic development; sustainability;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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