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Despite fundamental differences between the four countries and structural constraints of unipolarity that might have kept them from cooperating, the BRICs have surpassed most expectations in recent years in forming a nascent political grouping. On the foundation of other meetings between newly emerging powers, most importantly the trilateral Russia-India-China (RIC) arrangement, the BRIC foreign ministers began meeting in 2006. BRIC cooperation expanded to include two finance ministers’ summits, meetings of leaders, and a stand-a…
Digital globalization and Global Value Chains (GVCs)
The web of global economic connections is growing deeper, broader, and more intricate. Yet much of the public discussion surrounding globalization is stuck on the narrow topic of trade surpluses and deficits. This lens fails to take into account the new and more complex reality of a digitally connected global economy. While the global goods trade and financial flows have flattened since the Great Recession, cross-border flows of data are surging. They now tie the world economy together just as surely as flows of traditional manufactured goods.
McKinsey Global Institute (org.) Digital globalization: the new era of global flows. March/2016. …



