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  • flecainide acetate Con el n mero de la revista

    2018-11-15

    Con el número 398 de la revista incluimos colaboraciones sobre temas relevantes, que en conjunto aportan una visión panorámica del acontecer de la economía. Así, Isidro Luna aborda el tema de los bancos, específicamente profundiza sobre los que conforman el bloque de Brasil, Rusia, India, China y Sudáfrica (llamados BRICS), el objetivo del autor es mostrar si el establecimiento de este banco es deseable y realista y advierte que China es el único país de BRICS que tiene excedentes en la cuenta corriente, alto nivel de reservas y crecimiento económico; por lo tanto, la decisión de establecer el banco depende de China.
    Introduction The world economy changed after wwii. Keynes’ statement at Bretton Woods that underdeveloped countries “clearly have nothing to contribute and will merely encumber the ground” (quoted in Camara-Neto and Vernengo 2009, 200) was true at that time but perhaps the statementno longer holds. Economically and politically, several underdeveloped countries seem to be very important in today\'s world. However, does the economic and political weight of these underdeveloped countries (Brazil, Russia, India, China, and South Africa, or brics) mean they flecainide acetate can challenge the existing international world order established by the G7 (the us, Canada, Japan, France, Italy, Germany, and the uk) under the hegemony of the us?Can they initiate a new era of sustainable and high growth? Some scholars claim thatsuch situations are not possible for economic and political reasons. However, other scholars point out that brics can enforce a new international order and a new era of economic growth based on the creation of new financial institutions. Such a bank would function as a development bank (Stuenkel, 2013; Portal do Governo Brasileiro, 2014). In this article, we are not concerned about whether or not brics can challenge the prevailing world international order. Rather, our objective is to shed some light on the feasibility of such a development bank to spur economic growth. After this introduction, in Section 2, we deal with the economic performance of both the G7 and brics from 1989 to 2012, and we highlight the outstanding increase of foreign exchange carried out by brics. In Section 3, we take into account whether or not a brics’ bank is desirable, and in Section 4 we consider whether or not this bank is doable, taking into consideration historical and political constraints the new bank may face. In Section 5, we present concluding remarks.
    brics’ increasing importance worldwide is based on (1) its population (42.3 percent of the world population in 2012), (2) its gdp level, and (3) its foreign exchange reserve level. In this section, we show the following: (1) the G7 and brics’ shares of world gdp at ppp (Purchasing Power Parity) from 1989 to 2012, and (2) growth rates and the levels of foreign exchange reserves for the G7 and brics. Shares of world gdp have decreased in the G7 and increased in the brics. Figure 1 shows this phenomenon. However, we have to note that disparities exist through time and between the groups. First, for the G7, the share of world gdp remained constant at 50 percent from 1989 to 2000; thereafter, it decreased steadily. For brics, it can be seen in Figure 1 that the share of world gdp increased slowly from 1989 to 2000, with the pace accelerating from 2000 onwards. Second, the evolution of each country differs in its respective group. For the G7 (see Figure 2), we can say that the importance in the overall share of world gdp has diminished for European countries (Germany, France, Italy, and the uk), that of Canada has remained quite constant, and the us exhibited an increasing share in the 1990s, but this share decreased sharply from the beginning of the 2000s onward. Meanwhile, for brics, South Africa seems unimportant (see Figure 3), due to its declining share in the world gdp. Russia has recovered from the 1990s’ collapse (due to oil and gas exports), but its economy is smaller than during the time of the former Soviet Union. Brazil\'s participation in overall gdp has decreased slightly from these levels of the 1990s and it is still a primary-export country. Therefore, gdp shares have increased in only two economies: India and China (see also May, 1993/94; Layne, 2009). China\'s gdp participation in the world total increased threefold in just 23 years and its value added in industry as a percent of gdp has increased from 41.3 percent to 46.5 percent from 1990 to 2011.