Even though there have
been rather bad news than good news about the economies of single BRICS nations
the group is very confident about spurring on its economic success by creating
stronger ties between them. Half of the world’s population is living in one of
those countries. So far, they make up approximately 25% of the world GDP. Each
one of the countries was or is recently facing an economic downturn in various
extends (corruption scandals, lack of demand, recession…). The sudden optimism
seems to be surprising.
The BRICS are putting
their hope in their rich resources and large workforce. From working together,
they hope to make everyone better off. Nevertheless, all the countries are very
different from each other. I imagine that creating strong ties will need a lot
of negotiation time. Maybe it’s also too difficult to establish a consent for
trade agreements between these countries that would considerably push them
forward as economic power nations.
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