Abstract:

The term ‘BRIC states’ is an acronym derived from the capital letters of the names of four large states: Brazil, Russia, India and China. This group of states represents a relatively new, but powerful and influential group of states in the world order. The contemporary international relations, global and regional, are unimaginable without these states, which are home to over 40 per cent of the world population. BRIC states are changing geo-economics of the world and indicate a gradual and evolutionary deflection of the relative economic power from the most developed states. However, BRIC states are not changing the world economic order quintessentially, since it is defined and ruled by globalisation and the neoliberal ideology. BRIC states are using neoliberal ideology to develop their economies and base their development on the economic growth and the rapidly increasing exploitation of the natural resources.

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