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Globalisation and Emerging Economies

Brazil, Russia, India, Indonesia, China and South Africa

image of Globalisation and Emerging Economies
OECD countries still dominate the world economy, but their share of world trade dropped from 73% in 1992 to 64% in 2005, and some of the world’s most important economies are not members of the OECD. Foremost among these are the so-called BRIICS: Brazil, Russia, India, Indonesia, China and South Africa.

This book analyses key elements of the trade performance of the BRIICS in relation to the rest of the world, focusing on trade and other policies influencing that performance. Developments in global trade policy are reviewed, notably the impact of preferential trade agreements on the multilateral system and patterns of world trade are described using both indices that reveal networks of trading relations and more standard modeling results.

As well as the global analysis, the book also presents a separate chapter for each of the BRIICS, examining the key development and trade issues in each of the six countries over the past few years.

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Introduction

The developing world has taken off. The number of people living in high growth economies or in countries with per capita incomes at OECD levels has increased fourfold over the last 30 years – from 1 billion to 4 billion, Growth Commission (2008). It is a remarkable result both in terms of global economic growth and the distribution of income. The dispersion in economic activity means that some of the most important economies in the world are not members of the OECD, a further reason for the OECD to expand its membership and to help ensure that multilateral programmes continue to be embedded in the global economy.

English

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