IN recent years, the bank accounts of India, Brazil and South Africa have been on a path of constant deterioration. These countries rely on shorbterm foreign capital to hold their current account deficits. And with gr...IN recent years, the bank accounts of India, Brazil and South Africa have been on a path of constant deterioration. These countries rely on shorbterm foreign capital to hold their current account deficits. And with grow- ing expectation of a U.S, liquidity contrac- tion, the direction of global capital flow has reversed. The three countries＇ currencies are depreciating on a large scale, Since May, the Indian Rupee＇s exchange rate against the dollar hit a series of record lows. exhibiting a trend of currency crises with a depreciation scale over 20 percent.展开更多
Global issues,just as the name implies,refer to the common threats and challenges facing the whole globe.Upon the backdrop of deepening globalization and increasing interdependence among all the countries,global issue...Global issues,just as the name implies,refer to the common threats and challenges facing the whole globe.Upon the backdrop of deepening globalization and increasing interdependence among all the countries,global issues feature diversification and complexity.Furthermore,without the so-called'world government'in place,all the countries should展开更多
The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincid...The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincidence of the need for basic infrastructure investment and the need for profitable foreign exchange reserves are the immediate reasons for setting up the BRICS Development Bank. Comparative advantage and the co-movement of fluctuations in the BRICS member states optimize their cooperative interests. A co- movement game model analysis enables us to deduce the logical necessity for cooperation among the BRICS. Compared with other patterns of cooperation, virtual networks enable this financial cooperation to yield benefits in a short timeframe. The mutually supportive relationship between development and stability in the BRICS economies provides a solid rationale for the establishment of the New Development Bank.展开更多
South Africa’s membership in the BRICS club may bring more opportunities to the whole of Africa At their third summit,leaders from Brazil,Russia,India and China,known as the BRIC group of major emerging economies,wel...South Africa’s membership in the BRICS club may bring more opportunities to the whole of Africa At their third summit,leaders from Brazil,Russia,India and China,known as the BRIC group of major emerging economies,welcomed a new member,South African President Jacob Zuma.Zuma led a high-level delegation,including South Africa’s international relations and cooperation minister,economic development minister and trade and industry minister,to attend the summit on April14in Sanya,south China’s Hainan展开更多
The New Development Bank will bridge the huge financing gap in building infrastructure among BRICS members As one of the major supporting facilities of the BRICS cooperation,the New Development Bank(NDB),headquartered...The New Development Bank will bridge the huge financing gap in building infrastructure among BRICS members As one of the major supporting facilities of the BRICS cooperation,the New Development Bank(NDB),headquartered in Shanghai,China,formally came into existence as a legal entity展开更多
The paper intends to contribute a framework of conceptualizing the emerging world order through interpreting the transformation of international political economy in an era of the rise of the BRICS and the ＂second wo...The paper intends to contribute a framework of conceptualizing the emerging world order through interpreting the transformation of international political economy in an era of the rise of the BRICS and the ＂second world.＂ It theorizes the dialectical nexus between the rise of the BRICs and the existing world order as an interdependent dynamic process of mutual challenge, mutual constraint, and mutual accommodation. One of the conceptual tools the paper applies is the notion of interdependent hegemony. The notion is seen as an important tool for conceptualizing and analyzing international relations and international political economy in the current era. The application of ＂interdependent hegemony＂ helps to explain that to what extent the BRICS can be identified as a unified alliance, a historical bloc, and to what extent they are generating functional or structural challenges to the existing international order. Likewise, it also helps to determine to what extent the hegemony of the existing order is still able to keep its resilient capacities and its structural powers and able to neutralize challenges from the emerging powers. The conclusion of the paper posits that the world is experiencing ＂interdependent hegemony＂ in the transition from the existing order to the emerging order.展开更多
文摘IN recent years, the bank accounts of India, Brazil and South Africa have been on a path of constant deterioration. These countries rely on shorbterm foreign capital to hold their current account deficits. And with grow- ing expectation of a U.S, liquidity contrac- tion, the direction of global capital flow has reversed. The three countries＇ currencies are depreciating on a large scale, Since May, the Indian Rupee＇s exchange rate against the dollar hit a series of record lows. exhibiting a trend of currency crises with a depreciation scale over 20 percent.
文摘Global issues,just as the name implies,refer to the common threats and challenges facing the whole globe.Upon the backdrop of deepening globalization and increasing interdependence among all the countries,global issues feature diversification and complexity.Furthermore,without the so-called'world government'in place,all the countries should
基金the initial results of the SSFC-funded project "Assessment of the desired scale of foreign exchange reserves of the BRICS countries:multiple motives,big country models,cooperative adjustment"(No.13BGJ039)the National Soft Science Research Program-funded major project "Study on key issues of BRICS'Multi-level Strategic Cooperation"(No.GXS3D043)sponsored by the Center for Collaborative innovation between Modern Service Industry Developmentand New Urbanization in Hunan
文摘The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincidence of the need for basic infrastructure investment and the need for profitable foreign exchange reserves are the immediate reasons for setting up the BRICS Development Bank. Comparative advantage and the co-movement of fluctuations in the BRICS member states optimize their cooperative interests. A co- movement game model analysis enables us to deduce the logical necessity for cooperation among the BRICS. Compared with other patterns of cooperation, virtual networks enable this financial cooperation to yield benefits in a short timeframe. The mutually supportive relationship between development and stability in the BRICS economies provides a solid rationale for the establishment of the New Development Bank.
文摘South Africa’s membership in the BRICS club may bring more opportunities to the whole of Africa At their third summit,leaders from Brazil,Russia,India and China,known as the BRIC group of major emerging economies,welcomed a new member,South African President Jacob Zuma.Zuma led a high-level delegation,including South Africa’s international relations and cooperation minister,economic development minister and trade and industry minister,to attend the summit on April14in Sanya,south China’s Hainan
文摘The New Development Bank will bridge the huge financing gap in building infrastructure among BRICS members As one of the major supporting facilities of the BRICS cooperation,the New Development Bank(NDB),headquartered in Shanghai,China,formally came into existence as a legal entity
文摘The paper intends to contribute a framework of conceptualizing the emerging world order through interpreting the transformation of international political economy in an era of the rise of the BRICS and the ＂second world.＂ It theorizes the dialectical nexus between the rise of the BRICs and the existing world order as an interdependent dynamic process of mutual challenge, mutual constraint, and mutual accommodation. One of the conceptual tools the paper applies is the notion of interdependent hegemony. The notion is seen as an important tool for conceptualizing and analyzing international relations and international political economy in the current era. The application of ＂interdependent hegemony＂ helps to explain that to what extent the BRICS can be identified as a unified alliance, a historical bloc, and to what extent they are generating functional or structural challenges to the existing international order. Likewise, it also helps to determine to what extent the hegemony of the existing order is still able to keep its resilient capacities and its structural powers and able to neutralize challenges from the emerging powers. The conclusion of the paper posits that the world is experiencing ＂interdependent hegemony＂ in the transition from the existing order to the emerging order.
