Question
Use economic concepts, theories and illustrations (tables and figures) to compare and contrast the international trade flows of any two members of the BRICS grouping.
Use economic concepts, theories and illustrations (tables and figures) to compare and contrast the international trade flows of any two members of the BRICS grouping. Your task is to uncover and discuss the following: 1. The objectives of the BRICS grouping? The alliance's members key interests in joining the group? For the period 2015 to the most recent year for which data are available, present a full set of data on each country's exports and imports. Identify each country's major export products? Identify each country's major import products? Identify the major buyers of each country's exports and the major sources of each country's imports. (The text discussion for this part of the assignment should be brief and descriptive. It serves as an introduction to the essay). 2. To what extent do various theories of trade appear to explain each country's pattern of trade? In your answer, you might examine the commodity pattern of exports, the commodity pattern of imports, the commodity pattern of net exports and or the commodity pattern of net exports of each product as a percentage of total trade of this product by the country. In addition, the extent of intra industry trade in the various products should also be examined with reference to theory. 3. Drawing from your analysis critically comment on the effectiveness of the BRICS agreement in fostering intra BRICS trade and the future of BRICS in global trade amid the Russia-Ukraine conflict. (The text discussion for this part of the assignment should be brief. It serves as a conclusion to the essay).
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