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China, India, Brazil, and South Africa are reshaping the world economy. These Southern Engines countries have experienced a dramatic transformation in their productive and trade capabilities, consequently turning into global super powers. The current age of globalization, in which the Southern Engines have a primary role, faces a mixed set of interconnections wherein countries and economic agents are linked closely together by trade in goods and services, flows of capital, and movements of talent and skills. Much has been written about the spectacular performance of the Asian Giants, China and India. Arising from a UNU-WIDER research project, this collection goes further by studying the substantial contribution of other large emerging countries such as Brazil and South Africa. Using a wealth of data, as well as case studies, the book provides a detailed history review of industrialisation and economic development.
The volume explores the foundations of the Southern Engines development experiences, and how these could provide resourceful lessons to the developing world. Additionally, the foremost patterns of international politics and governance are dealt with by leading scholars, who critically assess how the Southern Engines have contributed to rebalance geopolitics. This volume is a stand alone reference for researchers and policy makers concerned with international development and global governance. The studies jointly provide valuable insights for other developing countries in the pursuit of sustainable growth and forward looking development strategies.
1 Introduction : Southern engines of global growth Amelia U. Santos-Paulino Santos-Paulino, Amelia U. Guanghua Wan Wan, Guanghua 1
2 China, India, Brazil, and South Africa in the world economy : engines of growth? Deepak Nayyar Nayyar, Deepak 9
3 Southern engines of global growth : very long cycles or short spurts? Meghnad Desai Desai, Meghnad 44
4 China's economic growth : trajectories and evolving institutions Jun Zhang Jun, Zhang 57
5 Global growth and distribution : are China and India reshaping the world? Maurizio Bussolo Bussolo, Maurizio Rafael E. De Hoyos De Hoyos, Rafael E. Denis Medvedev Medvedev, Denis Dominique van der Mensbrugghe van der Mensbrugghe, Dominique 77
6 Vietnam following in China's footsteps : the third wave of emerging Asian economies Jean-Raphael Chaponniere Chaponniere, Jean-Raphael Jean-Pierre Cling Cling, Jean-Pierre Bin Zhou Bin, Zhou 114
7 The liberalization of capital outflows in China, India, Brazil, and South Africa : what opportunities for other developing countries? Ricardo Gottschalk Gottschalk, Ricardo Cecilia Azevedo Sodre Sodre, Cecilia Azevedo 143
8 China, India, Brazil, and South Africa : capital flows and exchange rates : what lessons have been learnt since the East Asian crisis of 1997-8? Marion Pircher Pircher, Marion 172
9 Foreign direct investment from China, India, and South Africa in sub-Saharan Africa : a new or old phenomenon? John Henley Henley, John Stefan Kratzsch Kratzsch, Stefan Mithat Kulur Kulur, Mithat Tamer Tandogan Tandogan, Tamer 207
10 National policies to attract foreign direct investment in research and development : an assessment of Brazil and selected countries Mariana Zanatta Zanatta, Mariana Eduardo Strachman Strachman, Eduardo Flavia Carvalho Carvalho, Flavia Pollyanna C. Varrichio Varrichio, Pollyanna C. Edilaine Camillo Camillo, Edilaine Mariana Barra Barra, Mariana 236
11 Foreign direct investment and trade in the southern African development community Henri Bezuidenhout Bezuidenhout, Henri Wim Naude Naude, Wim 263