Global political economy. Consequences of the current transformations

Seminar paper from the year 2014 in the subject Politics - Topic: Globalization Political Economics grade: 2.3 University of Erfurt course: international relations language: English abstract: At the dawn of the 21st century there were already clear signals of the economic decline the United States and Europe were facing. As opposed to it countries that in the course of history have always been categorized as part of the developing world have indeed in the last decades experienced a rapid economic development. In 2001 Goldman Sachs' collaborator Jim O'Neill grouped these countries under the Acronym of BRIC which stands for Brazil China India and Russia. Eventually the name became BRICS including South Africa among those countries.