BRICS and the 2015 Ufa summit

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BRICS and the 2015 Ufa summit Empty BRICS and the 2015 Ufa summit

Post  Sirop14 on Mon Aug 17, 2015 8:30 pm

BRICS and the 2015 Ufa summit

The rise of the developing countries has recently taken the attention of many scholars from all over the world. Following the 2008 economic crisis, this focus has come at a time in which the world economic system has begun to undergo transformative change. Whereas the countries that have been traditionally classified as developed have been quite negatively affected by the crisis, developing nations such as the Asian Tigers, namely Hong Kong, Singapore, South Korea, and Taiwan, and the BRICS, namely Brazil, Russia, India, China, and South Africa, have continued to exhibit impressive growth rates. Augmented by the poor economic performances of their primary constitutive stakeholders, the traditionally Western-dominated international financial institutions have furthermore been unable to achieve success in meeting the demands of these newly emerging economies, and in effect these developing countries have been granted an opportunity to become more active players within the changing international environment. As a grouping that brings together the most crucial emerging economies, BRICS has come to take the attention of myself and various experts alike. This analysis will focus on BRICS and the most significant developments to have come out of the 2015 BRICS summit.


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