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BRICS:The rise of sleeping giant

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  • Pavnesh Kumar

Abstract

The combined territories of the BRICS countries account for nearly 30 percent of the world's total land area and 42 percent of the world's total population . In 2010, the group contributed 18 percent of the world's GDP and 15 percent of world trade. Among the BRICS members, China has been the "world factory" for many years, Brazil is a globally important "raw material base," Russia is an important world "petrol station," India is the world's well-known "office," while South Africa is "Africa's resources reservoir."This paper intents to highlights the growing influence of BRICS in the world economy and its role in the changing world economic order.It also intends to discuss the future ,issues and challenges ahead for BRICS and the standing of India in this group. Key words: economic growth, Emerging markets, structural change, BRIC countries

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  • Pavnesh Kumar, 2013. "BRICS:The rise of sleeping giant," Working papers 2013-6-17, Voice of Research.
    • Handle: RePEc:vor:issues:2013-6-17
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    Keywords

    economic growth; emerging markets; structural change; bric countries;
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