THE ROLE OF MULTILINGUALISM AS A TOOL IN SPURTING TRADE AMONG THE BRICS: AN ECONOMIC PERSPECTIVE
Keywords:
economics of language, gravity model, bilateral-tradeAbstract
The role of multilingualism as a tool in spurting trade among the BRICS: an economic perspective.
The study explores challenges facing Brazil, Russia, India, China and South Africa (BRICS) in respect to the impact of language diversity in their trading matters, and the potential of multilingualism in spurting trade within this trading bloc. The study looks at the growing focus and perspective in the interconnection between language and trade-flow among trading partners, considering that the present globalised economies have to do business with foreign states that have a diversity of languages, and with a potential of being a barrier in communication. The study is underpinned by gravity model, that focuses on the relationship between language and trade-flows. Qualitative approach is employed with the use of exploratory design. The data is based on secondary sources stemming from reports, research, books to policy papers. The findings show that various trading blocs such as European Union (EU), Common Market for Eastern and Southern Africa (COMESA), Economic Community of West African States (ECOWAS), and even some of BRICS member states such as South Africa and China, using multilingualism as a strategy in addressing the language factor in their bilateral trading matters. This study proposes the promotion of multilingualism as a way of mitigating the impact of language barrier in international trade among the BRICS and beyond.
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