BRICS and Capitalist Hegemony: Passive Revolution in Theory and Practice

  • Ian Taylor
Part of the International Political Economy Series book series (IPES)

Abstract

In May 2008, Russia hosted the first formal summit between Brazil, Russia, India and China (BRIC) in Yekaterinburg; in December 2010, South Africa was formally invited to join the BRIC group of large emerging economies (BRICS). The BRIC acronym was originally coined in 2001 by Jim O’Neill, chief economist for Goldman Sachs, when the global investment banking and securities firm advanced the argument that these emerging economies (or “contender states” engaged in a catchup struggle — see van der Pijl, 2006) were likely to surpass the traditional economic powerhouses of the global economy by 2040 (O’Neill, 2001).

Keywords

Crystallization Europe Radar Turkey Arena 

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© Ian Taylor 2016

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  • Ian Taylor

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