ABSTRACT
This chapter discusses economic conditions and the possibility that Indonesia as an emerging economy will be one of the Brazil, Russia, India, China and South Africa (BRICS) economies. It also discusses briefly the concept of economic growth and the interchangeability of economic development with economic growth. With globalization and the increasing tension from open competition, the developing countries have tried to overcome their handicaps to economic growth. The sustainability of economic growth with the endogenous factors of technology and innovation is a critical condition to get more productive, competitive and sustainable economic growth; and, further, it will direct an economy to follow similar pathways to the BRICS countries. According to the World Investment Prospects Survey report, China offers the best prospects for investment, India is ranked third, Brazil fifth, Russia eighth and South Africa 14th. The countries that had higher dependency on specific markets tended to have a significant contraction in their trade.
