Question

PLEASE HELP ASAP!!!

Answer 1

The BRICS or the Brazil, Russia, India, China and South Africa development impacted the United States in terms of economics and labor hence there is a dominance of the Chinese economy that its role in trade relations makes the BRICS much more a China-with-partners group than a union of equal members.For this reason the trade between them is now less than 320 bln dollars a year and declining and their trade with the US and EU is 6.5 times higher while China’s trade with the rest of the world is 12.5 times higher and the billateral trade between China and South Korea is almost as large as that between BRICS nations and it competed in third markets through economic influence in Africa to international aircraft and military equipment markets and BRICS countries compete with one another in many areas such as in clothing. Lastly there is a diversity of cultures where phases of economic development, ideologies, definitions of poverty and other cultural differences mean BRICS members lack common understandings about priorities that are necessary for productive sharing experiences.