The Role of the BRICS Countries in the Geographical Distribution of the World Trade

Abstract

Today there are changes in the models of the world economy, the increased role of developing countries on global arena and within international organizations, power shifts to developing world. The recent growth of emerging economies, mainly represented by BRICS has established a new path for international economic relations, by creating a solid counterweight to the global economic players, such as US and EU. This article provides some clues how BRICS countries influence upon international trade and what role do they possess in the global distribution of trade flows.