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Economies as a Part of the World Economy

Author

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  • Sorina Botis

    (Transilvania University of Brasov)

Abstract

The aim of this paper is to demonstrate the new and increasing economic and political power of the largest emerging economies as a part of the world economy, their fast economic growth based on the main economic developments during the last three years. The paper also presents the significant influence of the five BRICS countries(Brazil, Russia, India, China and South Africa) on regional and global affairs, representing almost 43% of the world’s population, 30% of its dry surface, producing 25% of global gross domestic product, attracting 53% of the world capital and holding foreign reserves totaling approximately 4500 billion US dollars. The huge economic potential of these five countries from the BRICS Group is such that they could become the world’s most dynamic and dominant economies. The paper also highlights the low performance of the emerging world, in terms of inflation and unemployment and concluded that currently, despite the economic difficulties faced by the Western developed countries and according to trends in the world economy, emerging economies continue their rapid economic growth.

Suggested Citation

  • Sorina Botis, 2013. "Economies as a Part of the World Economy," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(6), pages 126-138, December.
    • Handle: RePEc:dug:actaec:y:2013:i:6:p:126-138
    as

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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/2154/2007
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    References listed on IDEAS

    as
    1. World Bank, 2011. "Global Development Horizons 2011 : Multipolarity - The New Global Economy," World Bank Publications - Books, The World Bank Group, number 2313, December.
    2. World Bank, 2011. "World Development Report 2011 [Rapport sur le développement dans le monde 2011 : Conflits, sécurité et développement - Abrégé]," World Bank Publications - Books, The World Bank Group, number 4389, December.
    3. Julien Vercueil, 2015. "Les pays émergents. Brésil - Russie - Inde - Chine... Mutations économiques, crises et nouveaux défis," Post-Print hal-01445842, HAL.
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