A WAY OF EMPOWERING THE GLOBAL SOUTH
Research Fellow, Indian Council of World Affairs
Tehelka, March 31, 2012
REPRESENTING FOUR continents, approximately two-fifth of the global population, one-fifth of the global GDP and an enormous amount of daily economic transactions, the BRICS has emerged during the last four years as one of the most powerful voices from the resurgent global South. The BRICS has emerged as the most dynamic economic grouping in the event of continued economic crisis that has engulfed the developed West. While each of the member-states is an important player in their respective regional matrix of power, the strength of the grouping emanates from what it represents, offers, and what it challenges.
First, with the sustained economic growth for a long time along and huge economic resources at its disposal, the BRICS offers an important opportunity to emancipate a large number of under-developed, under-fed and undernourished populations from the global South. It is believed that increased intra-BRICS trade has the potential to reduce poverty in these economies. For example, India can benefit considerably from the technological expertise of China, agricultural skills of Brazil, and South African expertise on non-renewable energy resources.
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