This textbook was ‘Highly Commended’ by the judges at the Geographical Association Publishers' Awards 2015. It examines how the BRICS countries of Brazil, Russia, India, China and South Africa have emerged as potentially potent forces in the global economy, and the reasons behind their economic rise. Yet, although they share certain advantages, they possess different strengths. China has become a dominant global supplier of manufactured goods, while India has emerged as a key global provider of services. Brazil and Russia have become major global exporters of raw materials, resources that China and India require for their industrialisation. South Africa has adiversified economy, and is a low-risk destination for investment in Africa.
The emergence of the BRICS could signal a shift in economic and political power away from the advanced economies of the West. A close ‘alliance’ between the BRICS countries is becoming a reality, and could further increase their geopolitical stature, leading to significant changes in the current world order. However, China is the real power in the BRICS group, and rivalry with the other BRICS, due to their overlapping spheres of influence, may create future tensions that prevent the emergence of a new powerful grouping.
In addition, despite the balance of global economic power shifting towards the BRICS during the past decade, there remain doubts over the sustainability of their economic policies. Therefore, the book looks at the different set of obstacles faced by each of the BRICS countries, and the challenges that may thwart their individual global ambitions, as well as the ability of the BRICS group to take centre stage in tomorrow’s global economy.
The case study will support A Level & IB Geography teachers and students. In addition, it will be of relevance to many others with an interest in the emergence of new economic powers and the globalisation of the world economy.
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