Study On The Complementarity And Cooperation Prospect Of BRICS Countries

With the rapid development of economic globalization and regional integration, as newly emerging economies, the five countries, Brazil, Russia, India, China and South Africa, through the "BRICS" cooperation mechanism, have shown the world new platform for communication and cooperation, creating new models for international economic cooperation. Meanwhile, they have made considerable contribution to the revival of global economy in the post-crisis period. The supply and demand of raw materials, labor, technology, capital among these countries indicate that they are highly complementary to each other in economic aspect, which forms the basis and premise for their economic cooperation. However, there are still many obstacles and they also face great challenges in terms of the innovation of their cooperation model, but if they can strengthen their cooperation by taking full advantage of their economic complementarity, they will not only promote their own economic development, but also exert positive influence upon world economy. Thus, economic complementarity among the BRICS deserves intensive study. The thorough analysis of it will contribute a lot in terms of furthering trade cooperation, perfecting the market mechanism, reinforcing their overall competitiveness and promoting economic development and regional cooperation among the five countries both theoretically and practically.This thesis gives deep studies about the economic complementarity of BRICS countries by combining comparative, qualitative and quantitative analyses with the theories of comparative advantage, industrial structure and regional economic integration. The thesis includes four parts. In Part I, the author offers an introduction to the background and significance of this study, the literature review, basic structure, analysis methods, innovations and limitations of this thesis. In Part II, analyses about the economic complementarity of BRICS countries are considered through the complementarities of resources, industrial structure, economic technology and innovations and trade, the utilization of which can be more and more and more better in the future. The prospects of economic cooperation, potential and challenges that BRICS countries will confront are highlighted in Part III. Part IV concludes the thesis where the strategic measures and mode selections of BRICS countries will take and make are further studied. As for the innovation of this thesis, first, the author treats economic relationship shown in recent development of BRICS as a foothold and for the first time attempt to give a systematic and deep analysis to the economic complementarity of BRICS, which can perfect the existing studies of BRICS. Second, the author analyzes the BRICS countries in an overall perspective. This breakthrough is different from general ideas that only focus on bilateral economic relationship and cooperation between China and other BRICS countries. By combining the economic improvement of China with the rising of emerging markets represented by BRICS, it is more realistically significant.Concluding the analyses, the author thinks that BRICS countries have compromising potential in economic complementarity and cooperation. A very large space for economic and trade cooperation and further optimization of cooperative mode can be found. By strengthening the complementary cooperation, BRICS countries are hopeful to transform a more loosened organization based on economic interests into a stronger economic union.