Trade and investment liberalization makes it possible for the BRICs to achieve
rapid growth via integrating the domestic economy to the world market. It is
widely accepted that the world today has become increasingly interconnected as
the result of economic, technological, political, sociological, and cultural forces
that keep globalizing the world system (Baldwin, 2006). On December 16 2011,
the WTO officially approved Russia’s membership. All the four BRIC states will
be full member of the WTO by 2012