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Introduction

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Abstract

With the start of the twenty-first century, emerging economies represented by the Brics countries have shown a trend of rising as a group and become a new engine of global economic growth. As major emerging market countries, China, India, Russia, Brazil and South Africa demonstrated sustained and rapid economic growth. Their shares in global GDP increased from 17% in 2000 to 50% in 2010, and reached around 60% in 2012. According to the Global Economic Prospects published by the International Monetary Fund (IMF) in early 2012, the economic growth rate of China, India and Russia in 2011 was 9.2, 7.4 and 4.1% respectively, far higher than the average global economic growth rate. The economic growth rate of Brazil and South Africa was also far higher than the average level of developed countries. With the rapid economic growth, the Brics countries have gradually enhanced their international competitiveness and their rankings in the world have kept on rising.

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Authors and Affiliations

  1. Changsha, Hunan, China

    Yao Ouyang

  2. Changsha, Hunan, China

    Xianzhong Yi

  3. Changsha, Hunan, China

    Lingxiao Tang

Authors
  1. Yao Ouyang
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  2. Xianzhong Yi
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  3. Lingxiao Tang
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Ouyang, Y., Yi, X., Tang, L. (2019). Introduction. In: Growth and Transformation of Emerging Powers. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-32-9744-9_1

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  • DOI: https://doi.org/10.1007/978-981-32-9744-9_1

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  • Publisher Name: Palgrave Macmillan, Singapore

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