A New Partnership of Developing Regions: Africa - China, India, Brazil, and its Importance for the Operation of African Regional Economic Communities (RECs)
Journal Title: Central European Review of Economics and Finance - Year 2015, Vol 10, Issue 4
Abstract
With the emergence of Brazil, Russia, India, and China (the BRIC countries) as new sources of global economic, trade and investment growth, the world economy has experienced a relative shift in economic power in the 21st century. The dominance of these new rights has accompanied a significant improvement in economic prospects for Africa. According to The Economist, "Over the past decade, Africa has gone from being the 'hopeless continent' to a 'rising star' and the next major growth pole in the world economy". In this peculiar situation in world economy, the aim of this paper is to analyse the economic cooperation between African states and China, India, and Brazil in the 21st century, and its importance for the integration processes on the continent. The paper uses an analytical and descriptive method, and also national and international literature, and statistical data from the United Nations Conference on Trade and Development - UNCTAD. United Nations Economic Commission for Africa - ECA and Standard Bank. The analysis shows the necessity for African RECs to develop a consistent policy in the area of co-operation with emerging economies, in order to increase the benefits of regional integration and strengthen the bargaining position of the region.(original abstract)
Authors and Affiliations
Joanna Garlińska-Bielawska
Keywords
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