scholarly journals The BRICS Countries’ Bilateral Economic Relations, 2009 to 2019: Between Rhetoric and Reality

SAGE Open ◽  
2021 ◽  
Vol 11 (4) ◽  
pp. 215824402110541
Author(s):  
Bas Hooijmaaijers
Keyword(s):  
South Africa ◽  
Bilateral Trade ◽  
Economic Cooperation ◽  
The Other ◽  
Total Trade ◽  
Clear Trend ◽  
Economic Relations ◽  
Bric Countries ◽  
Brics Countries ◽  
India And China

After Brazil, Russia, India, and China (BRIC) started meeting in the BRIC countries format, and since 2011 with South Africa in the BRICS format, these countries’ leaders made several pledges for strengthening intra-BRICS economic cooperation. This article examines the degree this is reflected in the increase of Chinese Outward Foreign Direct Investment (COFDI) in the other four BRICS countries, the value of Chinese construction contracts, and bilateral trade between China and Brazil, India, Russia South Africa in 2009 to 2019. Focusing on these aspects contributes to the ongoing debate about the institutionalization of the BRICS political grouping. This article demonstrates that, thus far, despite the various pledges, the intensification of intra-BRICS economic cooperation is very limited. With some exemptions due to mega investment deals, COFDI in the other BRICS partners is still reasonably modest and shows no clear trend of increase over time in both absolute and relative figures. There is no significant increase in total trade, and various imbalances and asymmetries remain. Thus, the reality does not mirror the BRICS rhetoric on the intensification of economic cooperation.

scholarly journals O IMPACTO DA CRISE INTERNACIONAL NO COMÉRCIO DO BRASIL COM OS BRICS (RUSSIA, INDIA, CHINA E AFRICA DO SUL)

2012 ◽  
Vol 1 (2) ◽  
pp. 169-200
Author(s):  
André Luiz Reis da Silva ◽  
Luiza Peruffo
Keyword(s):  
South Africa ◽  
International Organizations ◽  
Bilateral Trade ◽  
The Other ◽  
International Crisis ◽  
Trade Relations ◽  
Brics Countries ◽  
Trading Partners ◽  
The Impact ◽  
Trade Partners

This article analyzes the impact of the recent international crisis on commercial relations between Brazil and the other BRICS countries (Russia, India, China and South Africa). The methodology consisted of the analysis of governments' and international organizations' documents and reports on international trade. To perform the analysis, firstly, an overview on the general characteristics of the economies of these four trading partners is presented, especially regarding the consequences of the international crisis in each of these economies. After that, the trade relations of the four countries with Brazil in the last decade are reviewed. Our results suggest that bilateral trade between Brazil and the other BRICS countries, which are not characterized as traditional trade partners, has been assuming an increasing importance.

PRIORITIES FOR DEVELOPMENT OF TRADE AND ECONOMIC COOPERATION OF UKRAINE AND KAZAKHSTAN

2021 ◽  
Author(s):  
В.И. Герасимчук ◽  
V. Gerasymchuk
Keyword(s):  
Bilateral Trade ◽  
Economic Cooperation ◽  
World Politics ◽  
Added Value ◽  
Strategic Partnership ◽  
Global Changes ◽  
Brics Countries ◽  
The Usa ◽  
The Impact ◽  
The Eu

Глобальные перемены в мировой политике и экономике происходят под решающим влиянием стран «Большой семерки» и БРИКС, придя на смену биполярному миру (США – СССР). После развала СССР каждая из бывших 15 республик, а ныне независимых государств, выстраивает экономические отношения со странами-соседями, международными и региональными объединениями в соответствие со своими стратегическими намерениями. В статье анализируются тенденции социально-экономического развитии Украины и Казахстана в течение 1991-2020гг. Изложены особенности моделей трансформации экономик двух стран. Методологической основой исследования выступает сравнительный ретроспективный анализ происходящих изменений в экономиках обоих государств с применением рейтинговых инструментов и механизмов. Указаны различия в векторах при выборе стратегического партнерства: для Украины – это НАТО, США и ЕС, для Казахстана – ОДКБ, Россия, СНГ и ЕАЭС, а также Китай, США, государства Центральной Азии и ЕС. Обращено внимание на уязвимость национальных экономик от влияния мировых финансовых кризисов, разрывов прежних кооперационных связей, потерей традиционных рынков сбыта, комплекса нерешенных внутренних проблем. Дана оценка экспортного потенциала экономик двух стран; подчеркнута необходимость увеличения в его структуре продукции с высокой добавленной стоимостью. Детально рассмотрены тенденции развития двустороннего торгово-экономического сотрудничества. Предложен комплекс мер по увеличению товарооборота между Украиной и Казахстаном. Global changes in world politics and economy are taking place under the decisive influence of the G7 and BRICS countries, replacing the bipolar world (USA - USSR). After the collapse of the USSR, each of the former 15 republics, now independent states, is building economic relations with neighboring countries, international and regional associations in accordance with their strategic intentions. The article analyzes the trends in the socio-economic development of Ukraineand Kazakhstanduring 1991-2020. The features of the models of transformation of the economies of the two countries are stated. The methodological basis of the study is a comparative retrospective analysis of the ongoing changes in the economies of both countries using rating instruments and mechanisms. Differences in vectors when choosing a strategic partnership are indicated: for Ukraine, these are NATO, the USA and the EU, for Kazakhstan– the CSTO, Russia, the CIS and the EAEU, as well as China, the USA, the Central Asian states and the EU. Attention is drawn to the vulnerability of national economies to the impact of global financial crises, breaks of previous cooperation ties, loss of traditional sales markets, and a set of unresolved internal problems. The assessment of the export potential of the economies of the two countries is given; emphasized the need to increase its structure of products with high added value. Trends in the development of bilateral trade and economic cooperation are examined in detail. A set of measures has been proposed to increase trade between Ukraineand Kazakhstan.

scholarly journals Crisis in Bilateral Economic Cooperation between Russia and Spain

2021 ◽  
Vol 14 (3) ◽  
pp. 189-208
Author(s):  
K. A. Nikulin
Keyword(s):  
Foreign Trade ◽  
Bilateral Trade ◽  
Point Of View ◽  
Total Trade ◽  
Economic Relations ◽  
Goods And Services ◽  
Trade Turnover ◽  
Economic Interaction ◽  
Economic Partnership ◽  
Trade And Investment

The article examines the dynamics and features of the trade and economic partnership between Spain and Russia from 2014 to the present, considering the latest challenges. The once promising trajectory of the development of bilateral trade and mutual investment has undergone significant tests: in addition to the sanctions pressure of the collective West countries, the situation has been complicated by the global crisis in the world economy, significant changes in world markets for goods and services, and the COVID-19 pandemic. In these conditions, the study of indicators of Russian-Spanish trade and economic interaction is of interest both from the point of view of forming a forecast for the development of bilateral economic relations and highlighting those industries towards which the emphasis in trade and investment is gradually shifting. The question arises: is it possible to return to the indicators of bilateral trade and investment inherent in Russian-Spanish economic relations before the imposition of sanctions? The data on the bilateral trade presented by the Russian and Spanish national statistics differ insignificantly in terms of the total trade turnover but have severe differences at the level of the trade balance. Based on both countries’ statistical databases, the author of the article presents the possible reasons for such discrepancies and considers the general dynamics of the state of foreign trade between Russia and Spain. In addition to stating the negative trends in foreign trade, there are problems in investment cooperation, which until recently was considered one of the “strongholds” of bilateral cooperation under the pressure of sanctions.

scholarly journals Trade intensity and revealed comparative advantage: an analysis of Intra-BRICS trade

2018 ◽  
Vol 13 (5) ◽  
pp. 1182-1195 ◽  
Author(s):  
Javeria Maryam ◽  
Umer Jeelanie Banday ◽  
Ashok Mittal
Keyword(s):  
Comparative Advantage ◽  
Bilateral Trade ◽  
Trade Flows ◽  
Trade Intensity ◽  
Revealed Comparative Advantage ◽  
Holistic View ◽  
Content Type ◽  
Brics Countries ◽  
Comparative Advantages ◽  
India And China

Purpose In the recent international scenario, the rise of emerging economies, in particular, Brazil, Russia, India, China and South Africa (BRICS) has gained ample of attention. The global trade flows of the BRICS countries have significantly increased during the last one-and-a-half decade. The purpose of this paper is to examine the intra-BRICS and BRICS–EU trade flows. Design/methodology/approach To study the intensity of trade among BRICS countries and with EU, the Trade Intensity Index is employed for the period 2001–2015. Balassa’s revealed comparative advantage (RCA) index is computed for the assessment of comparative advantages of exports by BRICS countries in the year 2015 in the global markets. A comparative analysis of export similarity is done for India and other BRICS countries in EU. Findings The findings of trade intensity showed large bilateral trade flows among BRICS member. Russia has emerged as the main trading partner with EU in BRICS. For the year 2015, the comparative study of RCA at HS-two digits and HS-four digits classification highlights marginal structural changes in the export composition of these countries. The analysis revealed that Brazil and Russia have comparative advantages in natural resource-based products, while India and China possessed comparative advantages in manufactured and processed products. The export similarity index shows the presence of competition between India and China in EU. Practical implications This paper highlights the need for closer cooperation to promote intra-BRICS trade and to make structural transformations in the basket of trading products by them to have trade benefits at large. Originality/value Numerous studies are available on bilateral trade of BRICS members. However, limited studies are available to get a holistic view of intra-BRICS trade. This paper is an attempt to examine the BRICS countries trade profile both at global levels and within the group.

scholarly journals Trade and Economic Cooperation of BRICS: Problems and Prospects

2020 ◽  
Vol 9 (6) ◽  
pp. 89
Author(s):  
I. Z. Yarygina ◽  
A. V. Zhiglyaeva ◽  
O. V. Vershinina ◽  
Yu. A. Kuvshinova
Keyword(s):  
Institutional Investors ◽  
Economic Cooperation ◽  
Economic Relations ◽  
Progressive Development ◽  
Multilateral Cooperation ◽  
Brics Countries ◽  
Indirect Financing ◽  
Business Entities ◽  
Effective Development ◽  
Evaluation Of Data

The subject of this study is the legal and financial features of the BRICS trade and economic cooperation and the practice of their application in modern conditions.  The purpose of this article is to identify problems that impede the effective development of economic relations and put forward proposals for their improvement.  The study showed that the BRICS countries have significant reserves for multilateral cooperation and support of trade and economic relations.  In this regard, harmonization of trade and economic relations of partner countries is necessary, in order to solve strategic problems and improve the living standards of the population.  It is shown that simplifying the access of entrepreneurs to credit, tax incentives for exporters of industrial goods, flexible conditions for direct and indirect financing of projects and programs, expanding the participation of BRICS development banks and institutional investors contributes to the progressive development of national economies and improving trade and economic relations of BRICS. For research purposes, IBOV INDEX (Brazil), CRTX INDEX (Russia), SENSEX INDEX (India), SHCOMP INDEX (China), JALSH INDEX (South Africa) and Bloomberg platform (WEI, DES, GP, XLTP XCIT, MEMB) materials were used. Evaluation of data in key sectors of the BRICS economies showed the existence of interconnectedness and interdependence of the BRICS trading floor indices - sources of direct financing for trade and economic cooperation of partner countries.  Correlation analysis and cointegration of time series confirmed a solid foundation for stimulating multilateral cooperation of the BRICS, including on the basis of interstate support for business entities and expanding the participation of institutional investors in ensuring sustainable development of the BRICS. It is concluded that the results of the study can be used in developing measures of interstate support for trade and economic cooperation of BRICS in modern conditions.

scholarly journals The gravity model of international trade of the EAEU, SCO and BRICS countries

2021 ◽  
pp. 63-75
Author(s):  
Ruslan Ozarnov
Keyword(s):  
Soviet Union ◽  
Gravity Model ◽  
Former Soviet Union ◽  
Economic Cooperation ◽  
Economic Relations ◽  
Market Depth ◽  
Brics Countries ◽  
Factors Influencing ◽  
Appreciation Rate ◽  
Foreign Trade Turnover

This article discusses the factors influencing the financial and economic cooperation of the countries with the developing marker within the framework of the three blocks – EAEU, BRICS, and SCO, by means of building the gravity model. The countries of the former Soviet Union are considered separately. The research covers the period from the Russian crisis of 2014 up to the present. The subject of this analysis is the financial and economic relations arising in the process of cooperation of the EAEU, SCO, and BRICS member-states with the developing market. The author explores the factors that impact the financial and economic cooperation of the countries with the developing market: depth and scale of foreign trade turnover, per capita GDP, market accessibility index, currency appreciation rate of the import and export country, distance between the countries, belonging of the country with the developing market to such associations as EAEU, BRICS, and SCO. The research is based on the general scientific methods of cognition such as analysis, synthesis, and comparison, presentation of tabular and graphical interpretation of statistics, time series, econometric modelling using the EViews software. The novelty of this article consists in determination of the factors influencing financial and economic cooperation of the countries with the developing market within the framework of the three blocks – EAEU, BRICS, and SCO by means of building the gravity model. The peculiarity of such model lies in the availability of the lagged exchange rates. The inclusion of the lag in the relative exchange rate of the export country rate let to exclusion of the data for 2014 from the sampling. Therefore, it is advisable to take into account the acquired results pertaining to Russia’s cooperation on the bilateral or multilateral basis within the framework of EAEU, BRICS, and SCO.

scholarly journals UKRAINIAN-CZECH ECONOMIC LINKS: DIPLOMACY, TRADE, AND TOURISM (THE BEGINNING OF THE ХХІ CENTURY)

2018 ◽  
Vol 4 (4) ◽  
pp. 181-187
Author(s):  
Roman Korsak ◽  
Vasyl Ilnytskyi ◽  
Ivan Hodia
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Bilateral Trade ◽  
Wide Spectrum ◽  
Economic Cooperation ◽  
The European Union ◽  
The Czech Republic ◽  
Economic Relations ◽  
Investment Projects ◽  
The Eu

The article’s purpose is in a complex manner to analyse Ukrainian-Czech economic cooperation throughout 2000-2017, particularly, in the sphere of economic diplomacy, trade, and tourism. The research methods. The methodological base for a systemic research into Ukrainian-Czech economic cooperation consists of general scientific principles and postulates, as also a wide spectrum of methods, which passed into the theory of international relations from philosophy, gnoseology, ontology, axiology, dialectics, logic, history, and other particular sciences. The results. It has been proved that the bilateral cooperation under consideration depended on the Ukrainian-Czech contract-legal base coordination level, which regulated their mutual relations, repayment prospects of Ukraine’s “Yamburg debt” to the Czech Republic, the scope of cooperation of each of the countries with the European Union, and level of tourist attraction. The main long-term economic interests of Ukraine in its relations with the Czech Republic were such: the development of an economic dialogue, the realization of the common Ukrainian-Czech economic and investment projects, and cooperation in tourism development. The economically-advisory dialogue between Ukraine and the Czech Republic, according to their bilateral interstate agreements, was carried out by the Ukrainian-Czech Commission on trade and economic cooperation, the Working group on the liberalization of their mutual trade, and by other institutional bodies. The expert consultations about the cooperation in the areas of tourism, power engineering, agriculture, banking, and other social components made up an effective form of economic dialogue. The signed inter-governmental and inter-departmental contract-legal certificates became an effective result of positive economic cooperation. The most active work in this direction was done on the eve and in the first years of Czechia’s membership in the European Union. Despite much work done, it did not bring about the possibility to solve problem questions and to eliminate existing barriers in the bilateral trade. After Czechia’s joining the EU, the improvement of a trading mode between the two countries rests within the plane of agreements and the development of a necessary contract-legal base with the EU. Conclusion. The bilateral economic cooperation between Ukraine and the Czech Republic has every prospect for further intensification, especially, in the sphere of statistics of the bilateral trade and economic relations, in Ukraine’s fulfilment of its commitments provided by “Yamburg agreements”, and in the popularizations of Ukraine’s positive tourist image.

PROSPECTS FOR ECONOMIC COOPERATION IN CENTRAL ASIA

2021 ◽  
Vol 22 (3) ◽  
pp. 094-108
Author(s):  
Karlygash Mukhtarova ◽  
Klara Makasheva ◽  
Zere Kenzhebaeva ◽  
Mansiya Sadyrova
Keyword(s):  
Central Asia ◽  
Service Sector ◽  
Regional Cooperation ◽  
Value Added ◽  
Economic Cooperation ◽  
Asian Countries ◽  
Clear Trend ◽  
Economic Relations ◽  
Central Asian ◽  
Central Asian Countries

This research article examines the state and prospects of economic cooperation among the countries of Central Asia (CA). As history would have it, economic cooperation within the CA region was previously limited, and investments in Central Asia were mainly concentrated in the mining sector of the economy. Demographic and economic trends in the region have led to an expansion of the internal market; most Central Asian states have implemented wide-ranging reforms, which have improved the overall investment climate; and the CA states have stepped up the development of multilateral trade and economic relations, laying the groundwork for broader cooperation. The article also covers recent problems related to the economic situation in the region. For example, the current situation associated with COVID-19 has had an impact on economic relations between the CA countries. In the view of international experts, this crisis has not provided any new reasons for integration in the region. The quarantine measures taken in various Central Asian countries have had a negative effect on their foreign trade and thus on intra-regional trade and economic cooperation in general. The authors also examine other problems, such as those caused by the CA countries’ economic dependence on other countries, namely their dependence on imports from outside the region. These problems also affect the prospects of economic cooperation in Central Asia. All countries, including those rich in natural resources, want to produce and export finished goods with high value added. The production of high value added products and services enables a country to earn more revenue and reduce its dependence on primary commodity exports. The Central Asian countries are no exception. But for many reasons their finished products are often insufficiently competitive in countries outside the region. Despite the existence of economic problems connected with the need to improve the economic aspects of cooperation, there is a clear trend towards diversification of the economy of the CA countries caused by a desire to develop various specializations. These include agricultural processing, production of consumer goods for the population, development of the service sector, and other areas. Thus, the choice of a new model for the development of multilateral relations and the emerging trend towards economic growth in the region have made it possible to lay the foundation for long-term cooperation among the Central Asian states. Keywords: regional cooperation, Central Asia region, diversification of the economy, trade regimes, external economic policy, region, Kazakhstan, Uzbekistan, Tajikistan, Turkmenistan, Kyrgyzstan.

scholarly journals STUENKEL, Oliver. The BRICS and the future of global order. Lanham: Lexington Books, 2015, 228p. ISBN: 978-0-7391-9321-1

2016 ◽  
Vol 6 (2) ◽  
pp. 293-296
Author(s):  
Débora Coutinho Cunha
Keyword(s):  
Foreign Relations ◽  
World Politics ◽  
First Century ◽  
Global Order ◽  
Economic Relations ◽  
Bric Countries ◽  
Brics Countries ◽  
Global Power ◽  
The Future ◽  
History Of

No livro The BRICS and the future of global order, Oliver Stuenkel narra a trajetória dos BRICS, desde sua origem, em 2001, até seus mais recentes passos em direção a uma maior institucionalização, em um processo de evolução que o autor descreve como um dos acontecimentos definidores da política internacional do início do século XXI. Stuenkel analisa a ascensão dos BRICS e sua contribuição para a reforma da ordem global, em direção à multipolarização e à redistribuição de poder no sistema internacional de forma mais condizente com a realidade.ABSTRACTIn the book The BRICS and the future of global order Oliver Stuenkel traces the history of the BRICS from its origins, in 2001, to its recent steps towards greater institutionalization, in a process the author describes as one of the defining  developments in international politics of the beginning of the twenty-first century. Stuenkel analyzes the rise of the BRICS countries and their contribution to a reform of the global order towards a more multipolar world and a redistribution of global power that better reflects reality.Palavras-chave: BRICS – Relações Externas; BRICS – Relações Econômicas; Política Mundial - século XXI. Keywords: BRIC countries – Foreign Relations; BRIC countries – Foreign Economic Relations; World Politics – 21st centuryDOI: 10.12957/rmi.2015.19917 Recebido em 02 de dezembro de 2015 / Received December on 02, 2015.Aceito em 20 de dezembro de 2015 / Accepted December on 20, 2015. 

scholarly journals Socio-economic development of Russia in terms of the BRICS countries’ development

2020 ◽  
Vol 9 (27) ◽  
pp. 52-61
Author(s):  
Ilmir Nusratullin ◽  
Svetlana Kuznetsova ◽  
Yuliya Gazizyanova ◽  
Ekaterina Kutsenko ◽  
Lubov Berezhnaya
Keyword(s):  
South Africa ◽  
Economic Development ◽  
Domestic Demand ◽  
Living Standards ◽  
Standard Of Living ◽  
The Past ◽  
Brics Countries ◽  
Socio Economic Development ◽  
Per Capita ◽  
India And China

The welfare of the population is largely dependent on the socio-economic development of the country. It is believed that the stronger the state’s economy, the higher the standard of living of the population. In the framework of this article, the socio-economic development of Russia in terms of the standard of living of the population is considered. It is concluded that over the past 5 years, despite an increase in the level of wages and per capita income, the standard of living of the population of Russia has decreased. The welfare of the citizens of Russia and the citizens of the BRICS countries is compared herein. It is concluded that the dynamically growing economies of India and China contribute to the improvement of the living standards of the population, while the problems in the economies of Russia, Brazil, and South Africa negatively affect the incomes of the population of these countries. The paper suggests incitement of the domestic demand as a factor in the development of the economy and thereby the standard of living.

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