Abstract
The rise of the emerging economies, especially the Golden BRICS (Brazil, Russia, India, China and South Africa), is changing the landscape of the world economy. These economies have experienced fast economic growth in the past two decades (at least), and are emerging as important economic forces in the global economy. For the past three decades, the average annual gross domestic product (GDP) growth rate of China, for instance, has been as high as 9.8 per cent. This is much higher than the average 3.0 per cent annual growth rate of the world economy. In 2007, the annual GDP growth rate percentage was 13.0 in China, 9.1 in India, 8.1 in Russia, 5.4 in Brazil and 5.1 in South Africa. Again, this is much higher than the world average growth rate of 3.8 per cent in the same year. By 2007, China was ranked amongst the four largest economies in the world in terms of total GDP.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Aitken, B. and A. Harrison (1999), ‘Do domestic firms benefit from direct foreign investment? Evidence from Venezuela’, American Economic Review, 9 (3), 605–18.
Balasubramanayam, V. N., M. Salisu, D. Sapsford (1996), ‘Foreign direct investment and economic growth in EP and IS countries’, Economic Journal, 106(434), 92–105.
Department of Science and Technology (DST) (2007), ‘Innovation towards a knowledge-based economy. Ten-year plan for South Africa (2008–2018)’, Draft. Pretoria: DST. 10 July.
Kaplinsky, R. ed. (2006), ‘Asian Drivers: Opportunities and Threats’, IDS Bulletin, 37 (1).
Lall, S. and S. Urata (2003), ‘Introduction and overview’, in S. Lall and S. Urata (eds), Competitiveness, FDI and Technological Activity in East Asia, published in association with the World Bank. Cheltenham, UK: Edward Elgar.
Tojo, Y. (2008), ‘New modes of innovation: Increasing role for emerging economies’, paper presented at the SLPTMD conference on ‘Confronting the challenge of technology for development’. Oxford: Oxford University.
Wang, Q. and J. Gao (2006), ‘A retrospective analysis of the foreign capital attracting practice based on the “exchange-market-for-technology” strategy in china’, Journal of Hubei University (Philosophy and Social Science), 33(3), 261–4.
World Bank (2007), World Development Indicators 2007 Washington, DC: World Bank.
Editor information
Editors and Affiliations
Copyright information
© 2010 Xiaolan Fu and Luc Soete
About this chapter
Cite this chapter
Fu, X., Soete, L. (2010). Introduction. In: Fu, X., Soete, L. (eds) The Rise of Technological Power in the South. Palgrave Macmillan, London. https://doi.org/10.1057/9780230276123_1
Download citation
DOI: https://doi.org/10.1057/9780230276123_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-31554-3
Online ISBN: 978-0-230-27612-3
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)