Trade Reorientation and Restructuring towards Fast-growing Emerging Economies: Crisis Response of the EU Member States

Abstract

and Vietnam. 4 MIST represents an even more heterogeneous group of countries than BRICS in terms of their development level. According to World Bank data (2014), GDP per capita ranges from USD 3,557 in Indonesia to USD 22,590 in South Korea with Mexico and Turkey in between, with USD 9,749 and USD 10,666 per capita, respectively. With the exception of Indonesia, they are all members of the OECD. Meanwhile, in the BRICS group India is an outlier with only USD 1,489 per capita GDP, followed by China with USD 6,091, Brazil USD 11,340 and Russia USD 14,037, respectively (World Bank (2014).