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- W2334223082 abstract "The USA and the EU economies have just been through a severe recession marked by financial turmoil, large-scale destruction of wealth, and decline in industrial production and global trade. As the result of reduction in the demand of products in the global market, the prices continued to fall. The USA economy is not competitive now. The current international financial crisis was an explosion that was the ultimate result of the accumulation of a number of unbalanced, inconsistent and unsustainable factors in the world economy. It is a reflection of the limitations of the liberal capitalist development concept of Western countries. It also shows the dangers of blindly copying the Western development models. The BRICS countries (Brazil, Russia, India, China and South Africa) and the G 20 replacing the G-7 in the wake of the economic crisis, as the premier global forum to deal with the crisis, reflected a relative decline in the power of the US and other advanced capitalist countries. The BRICS can represent the interests of all the developing countries. The BRICS countries are not only the emerging largest economies but its growing strong economic and political relationship with the African, Latin American and Asian countries; it may change in the international economic order through using common currency in trade, sharing their own science and technology to improve and transform in agriculture, energy, and industrial sectors, and establishing a new military block so that they can provide security from the imperialist aggression. Of course, China would be as backbone of the BRICS.3" @default.
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- W2334223082 date "2011-01-01" @default.
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- W2334223082 title "An Overview of the New Emerging Balance of Forces - ‘The BRICS, G 20 and G 7’ Response to the Global Financial Crisis" @default.
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