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BRICs IN GLOBAL ECONOMY

BRICs are the new organization that formed based on the economic interest of its own member. The main objectives that been put on the head of BRICs is to concur the global economy. From this it has made the transformation of economic in the international level. If it is come to Russia and China, both of them had involved in the Cold War and that is when their economy went down so badly. The Cold War also happen because of the economic aspect and economic interest but the Cold War had said to be the biggest ideological war in the world. The war had happen because of the differences of ideology in politics. But most of the economic scholars had strongly agreed that all of the war that happens in the world mostly happen because of the political interest. Both of this country had something in comment that is most of the economic activities been controlled by the government. But this kind of socialist ways of managing a state did not always come with a bad effect because it also had its own benefit to the people of the particular state itself and the free trade also had its own weakness.

For the Brazilian and India, both of them is semi-capitalist country that is half been controlled by the government and it had been said that they had faced the ‘revolution from above than the deep forces’. The semi-capitalist and economic liberalization had created a tension situation in both countries for example the increase of inflation level in Brazil. All of this already happens in Malaysia in the 1997 when the time of Tun Mahathir era, when Malaysia faced a high inflation problem when Malaysia transfers rate had fluctuated. The economic problems that happen in Brazil mostly happen in the 1990s and also in the beginning of the year 2000. India also faces drastic changes also with China, but in the transformation aspect the China had faced the different form a different form of revolution and China had shown a reproduction.

It is also...
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