Prospettive di sviluppo dei paesi BRICS

For the last two decades the significant shift of economic power toward developing countries can be seen. The economic growth of developing economies has been increasing by a rate of 5,8% every year on average, that is notably higher than the 1,8% average growth rate of developed countries. Brazil, the Russian Federation, India, China and South Africa are influential players on the international scene due to their growing economic and political power. Knowing that these countries have a forceful and increasing economic potential, they were not taken into account as strong emerging economies. Consequently, over the last twenty years, they have promoted reforms of existing international monetary and financial structures in order to be recognized in the world market. The aim of this dissertation is to analyse current economic, demographic and political situations, in addition to project development prospects for all BRICS countries. This paper was conducted based on research done on the economic situation of each BRICS country in order to find the reasons of establishment of the organization and to better understand the forms of cooperation between these countries. I am going to investigate the economic evolution of each country and analyse what obstacles threaten BRICS countries to develop their economy and what challenges each country is currently facing. The importance of this paper lies in the significance of each BRICS country in the global economy and its influence on changing geopolitical situation in the world, defined by the confrontation between BRICS and developed countries and new political system construction. These countries have the fastest economic growth among developing countries and it is believed that these countries can outperform advanced countries and become an economic locomotive in the near future.