Will the Growth of the BRICs Cause a Shift in the Global Balance of Economic Power in the 21st Century?

Abstract

Some 42% of the world's population (i.e. 3 billion people) live in Brazil, Russia, India and China, collectively known as BRICs. Of these four, India and Brazil also have a higher than average birth rate. The combined economy of the BRICs made up 25.6% of the global GDP in 2015 and has been projected to increase to 33% by 2020. Studying the BRICs economies is important for a number of reasons including: their rapid economic growth rates, large populations, and fast-growing markets for goods and capital. Their average per capita annual income ranges from about US$ 3,000 to nearly US$ 15,000 in PPP terms. However, in 2015 their average annual GDP growth exceeded 6%, which is much higher than the 1.9% of the OECD countries. It is estimated that their share in the world economy could double over the next two decades, from 25.6% to 40%.

The Political Economy of India's Postplanning Economic Reform: A Critical Review

“…India cannot become modern nation if its lowest income groups have no access to health. Compared to India, the figure for China's public spending on health is 3%, more than double that of India while the average figure for western European countries is 8% of GDP (Siddiqui, 2016a).…”

“…This credit boom has diverted credit away from industries to personal loans used to obtain consumer goods and housing. This does not provide any relief to the poorer sections of society (Siddiqui, 2016a).…”

“…This equals China's growth rate and is much faster than that of other BRICS countries (Brazil, Russia, India, China and South Africa). In fact, both Brazil and Russia experienced negative growth rates for the same period (Siddiqui, 2016a). By way of comparison, the GDP growth rate in developed countries was about 2% for 2015-16, while developing countries on average grew about 4.4% for the same period.…”

“…The government is now talking about a "Made in India" campaign to raise manufacturing output so that it represents a 25% share of GDP by 2022. (Siddiqui, 2016a)…”

Zdolność konkurencyjna przemysłu spożywczego krajów UE, USA i Kanady na rynku światowym

“…Kraje UE i USA, a w mniejszym zakresie tak e Kanada, s dla siebie nawzajem wa nymi partnerami gospodarczymi, a zarazem konkurentami na rynkach mi dzynarodowych. Wyrazem d enia do pog bienia wzajemnych relacji gospodarczych, a przez to utrzymania silnej pozycji tych pa stw na rynku mi dzynarodowym, szczególnie wobec rosn cego znaczenia politycznego i du ego potencja u gospodarczego krajów BRICS (Gradziuk i Kugiel, red., 2012;The BRICS Report, 2012;Sporek i Czech, red., 2015;Nassif, Feijo i Araújo, 2016;Nayyar, 2016;Siddiqui, 2016), s zawarte Ca o ciowe Gospodarcze i Handlowe Porozumienie UE-Kanada (EU-Canada Comprehensive Economic and Trade Agreement -CETA) oraz negocjowane do tej pory bezskutecznie Transatlantyckie Partnerstwo Handlowo-Inwestycyjne (The Transatlantic Trade and Investment Partnership -TTIP). W kontek cie narastaj cych problemów w stosunkach transatlantyckich, szczególnie w relacjach UE-USA w okresie prezydentury Donalda Trumpa, a zw aszcza po jego zapowiedzi podniesienia ce na stal i aluminium w marcu 2018 roku (Kiwerska, 2018), kwestia konkurencyjno ci gospodarek tych trzech partnerów handlowych w uk adzie bilateralnym i na rynku wiatowym nabiera szczególnego znaczenia.…”