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Global Issues

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Submitted By namesinnumbers
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Response Paper on GI units 1,3 and 4

Through out the assigned Global Issues units certain themes seem to keep coming out that are vital in the world of international business. The emergence of the B.R.I.C is a key ingredient in understanding and planning for the future of international business. Also important is the growing population and the resources needed to sustain these numbers of people. We must also realize the effects that international business has had on the environment and what those effects will mean for us in the future. Finally and probably most all encompassing is the idea of the world evolving into one cohesive unit, better known as globalization of industry.

BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India, and China that are deemed to all be at a similar stage of newly advanced economic development. Goldman Sachs argues that the economic potential of Brazil, Russia, India, and China is such that they could become among the four most dominant economies by the year 2050. These countries encompass over 25% of the world's land coverage and 40% of the world's population and hold a combined GDP of 18.486 trillion dollars. On almost every scale, they would be the largest entity on the global stage. These four countries are among the biggest and fastest growing emerging markets. Now that we have properly defined what the BRIC is, we must now step back and view this on a global stage. From a global business standpoint we cannot downplay the emerging markets that are forming from the BRIC. These economies are increasing at such a large rate that they will be a driving force as we proceed into a more globalized economy. The one thing that these articles don’t fully address however is the fact that these are still only predictions. As we move forward in the field of global business we cannot solely focus our attention

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