ABSTRACT
In the past two decades, some developing countries such as the BRICS have emerged as major exporters and importers, as well as new sources of foreign capital flows. This is widely perceived to have significant implications for existing trade structures and patterns, as well as for global power as expressed in other ways. In particular, it means that developing countries have alternative sources of capital inflows, alternative markets other than those in the North, and even alternative channels of migration compared to the past.
