OECD countries still dominate the world economy, but their share of world trade dropped
from 73% in 1992 to 64% in 2005, and some of the world’s most important economies
are not members of the OECD. Foremost among these are the so-called BRIICS: Brazil,
Russia, India, Indonesia, China and South Africa.
This book analyses key elements of the trade performance of the BRIICS in relation
to the rest of the world, focusing on trade and other policies influencing that performance.
Developments in global trade policy are reviewed, notably the impact of preferential
trade agreements on the multilateral system and patterns of world trade are described
using both indices that reveal networks of trading relations and more standard modeling
results.As well as the global analysis, the book also presents a separate chapter
for each of the BRIICS, examining the key development and trade issues in each of
the six countries over the past few years.