Online ISSN 2286-0266
Print ISSN 1223-0685
© 2024 Œconomica by ASE & SOREC
 
Doina DRĂNICEANU
Curtea de Conturi a României
At global economy level, changes occurred, consisting of transferring production abroad, due to the comparative advantages of moving production in China or in other developing countries, which converge in cost reduction at production level, and, implicitly, in price advantages. The arena of international competitiveness changed for ever, at the same time with obtaining exponential efficiency and profitability gains as a result of outsourcing. The undeniable comparative advantages of China’s economy lead to the acquiring by China, out of its exports, of important USD amounts, from which a big part are reinvested through investment funds, public investment vehicles widely used by BRIC group’s emerging countries. Although the present financial crisis has global character, emerging countries resisted much better, approaching policies able to render profitable their internal potential, which led to spectacular economic growth rates, that outran the developed states’ economic growth rates. Thus, in the context of the global financial crisis, they became real emerging powers, which contributed in an important degree to the dynamics of world economy and to its getting out of recession, acting like real motors of global economic growth. These economic realities gradually draw evolutions also on international political terms’ level, able to induce changes in global politics to support the forming of a multi-polar international political system, leading to a reshape of world’s order.

ŒCONOMICA no. 3/2013
Keywords: financial crisis, globalization, international competitiveness, outsourcing, economic growth, sovereign investment funds, world economy, emerging powers, world order
JEL: F01, F23, F30, F59, F63, G01
Sovereign Investment Funds and the International Competitiveness Through Outsourcing in Emerging Countries [Fondurile suverane de investiţii şi competitivitatea internaţională prin outsourcing în ţări emergente]