| ID | 114460 |
| Title Proper | BRICS in the system of global governance |
| Language | ENG |
| Author | Larionova, M |
| Publication | 2012. |
| Summary / Abstract (Note) | THE PLACE OF THE BRICS in the system of global governance is determined by their growing impact on the world economy. To quote Jim O'Neill, who predicted the growth of the BRIC economies in 2001 : "All four of the BRIC countries have exceeded the expectations I had of them back in 2001. Looking back, those earliest predictions, shocking to some at the time, now seem rather conservative. The aggregate GDP has close to quadrupled since 2001, from around $3 trillion to between $11 and $12 trillion. The world economy has doubled in size since 2001, and a third of that growth has come from the BRICs. Their combined GDP increase was more than twice that of the United States and it was equivalent to the creation of another new Japan plus one Germany, or five United Kingdoms, in the space of a single decade. ... BRICs now account for probably close to 20pc of world trade compared with less than 10?c in 2001. Trade between the BRICs has risen far more quickly than global trade as a whole."1 |
| `In' analytical Note | International Affairs (Moscow) Vol. 58, No.3; 2012: p.33-44 |
| Journal Source | International Affairs (Moscow) Vol. 58, No.3; 2012: p.33-44 |
| Key Words | BRICS ; Global Governance ; World Economy ; Global Trade |