Free Essay



Submitted By ScarfaceShawty
Words 479
Pages 2
Economic Case Study: Proposed List Of Research Projects In International Development

As a group you need to select one macroeconomic issue/policy from this list based on macroeconomic issue that interests you. I have also given a few study questions to assist you to critically think about the issues and the related policy solution. The study questions (the bulleted text) should only be used as helpful reference points for your further research on the economic subject of your interest. Accordingly please select your group so that each member can work on different dimensions of your research subject.

Economic Issues related to the BRICS

China: Facing the 21st Century

China is without doubt currently the most dynamic force in Asia; it may be the most dynamic force in the world. Moreover, if China continues along its present trajectory, its growth will inevitably change the face of Asia. How did China do this? Where is China heading? What is happening in China? How did China do this?

• What are economic strengths and challenges facing China today? • What is the impact of China's growth on other Asian countries? • What are the critical next steps for China in terms of its currency? What are their problems?

India: Facing the 21st Century

Some say we need to talk about “Chindia” as the new dynamic growth economy. India alone has shown growth of over 9 percent and is one of the fastest growing nations in Asia. • What are India’s economic strengths and challenges? • How did India achieve its growth? • Where is India heading with regards to China? • What is the impact of India's growth on other Asian countries?

Brazil: Should it be part of BRICS?

With slow growth and low saving to GDP ratio some question if Brazil should be included in the BRICS economies. But it is more developed than China or India.

• What are some of the legacies of the Lula presidency that may shape Dilma presidency? • Is Brazil prepared to be considered a global power? • What are the drivers of growth for Brazil? • How does the mobilization of civil society in Brazil enhance the country’s democratic governance?

Russia: Economic Challenges and Changing Agenda • What are Russia’s economic strengths and challenges? • How did Russia position itself for taking advantage of the growth in global economy? Was it successful? If not why not? • What were the main challenges for Russia to adopt the market reforms. • Are their any complementarities with other BICS nations?

South Africa: • Was it a good decision to include South Africa as member of BRIC. • In what ways has the states role in the economy changed since 1970 and especially since the end of apartheid? • In what ways and why is South Africa so socially unequal today? • What role did international sanctions play in ending apartheid? • Why has South Africa attracted so much attention? Should it be part of BRICS.

Similar Documents

Free Essay


...Institute of Professional Education and Research, Bhopal Business Environment Report on BRIC 2050 India performance and status Submitted To: Submitted By: Prof. (Dr.) Resham Chopra Bharat Naryani Priyank Ajmera BRIC BRIC are the acronym used to refer to the combination of the four biggest emerging-market countries: Brazil, Russia, India and China. According to Wikipedia BRIC (Brazil, Russia, India, and China) is a coalition of regional and superpowers reportedly proposed by Russian President Vladimir Putin. Predictions & Projections: Economists argued that, given sound political decision-making and good luck, the BRIC economies together could become larger than those of the world’s six most developed countries in less than 40 years. i.e BRIC economies of Brazil, Russia, India and China together would be larger than G6 (G7 excluding Canada) in USD in less than 40 years. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050. It is projected that  the Brics to account for close to 40 per cent of global GDP by 2050 and to have become four of the world’s top five economies. It is projected that the Brics’ rise in absolute terms will push them up to the top of the global leaderboard, in per capita GDP their performance will not be quite so impressive. Reasons why India will rise: 1) Manufacturing productivity will drive growth. It’s performance will improve due to globalisation and increased competition...

Words: 1522 - Pages: 7

Free Essay


...Faculty of Business Studies Module: Presentation and Communication Skills Examiner: Dipl. Ök. Marina Alvares-Wegner The BRIC countries Leslie Authier Matr. No.: 7007017 E-Mail: Diana Carolina Ramirez R. Matr. No.: 7004479 E-Mail: Maya Höpfner Matr. No.: 7003768 E-Mail: Table of content 1 Introduction...................................................................................................... 2 2 The Federative Republic of Brazil .................................................................... 3 2.1 General information on the Federative Republic of Brazil....................... 3 2.2 Brazil’s connection with the European Union.......................................... 4 2.3 Brazil’s financial situation........................................................................ 5 2.4 Brazil’s imports and exports.................................................................... 6 2.5 Brazil’s leading companies ..................................................................... 9 3 The Russian Federation................................................................................. 10 3.1 General information on the Russian Federation ................................... 10 3.2 Russia’s connection with the European Union...................................... 11 3.3 Russia’s financial situation.................................................................... 12 3.4 Russia’s imports...

Words: 6703 - Pages: 27

Free Essay


...BRIC is an acronym standing for Brazil, Russia, India and China. Although can be categorized by importance of countries, it would be CIRB which is China, India, Russia and Brazil. The BRIC are both the fastest growing and largest emerging markets economies. These four countries encompass more than quarter of the world’s land area and in 2009 accounted for more than 40% of world’s population, 40% of the world’s foreign exchange reserves and 25% of world’s GDP. The states, which were earlier, accepted to consider as developing countries of Third world, promptly become economic giants of the new world. BRIC: Brazil, Russia, India and China – four markets everyone with the unique features, but thus unites them the potential generated by changes in political systems of these countries. As a result of these changes there was a consumer demand, which is formed by 43% of the population of the whole world. In roughly developing countries of BRIC there are five of the ten largest cities of planet where concentrated the huge amount of capital and millions of consumers who are aspiring up on social and economic ladder. The term BRIC was included into a business lexicon in 2003 after the economist of Goldman Sachs investment bank Jim O'Neill described future economic picture of the world. In his opinion, by 2050 the economic capacity of these four countries will allow them to become dominating economies, and to surpass in scales not only economy of the USA, but also economy of all of the...

Words: 2479 - Pages: 10

Premium Essay

The Brics

...The BRICs have developed exceptional growth in the last decade, rivaling the advance economies. The BRICs, coined by Goldman Sachs, consists of four countries: Brazil, Russia, India and China. These four countries are the fastest-growing markets in the world. The intensification of globalization has allowed these four markets to flourish. Even with the latest economic crisis, the BRICs are predicted to recover faster than the advance economies. By 2050, all the BRICs are forecast to past most advance economies. But, there are implications that hinder the BRICs full potential economic growth. There are distinctive factors for each of the BRICs that have helped gain influential economic power over the decades. The most influential and fastest growing market is China. China has been an isolated country both politically and economically in the world. It was not until the 1970s and 80s when China brought about economic reform. The main focus of these reforms was to change the economy away from the agriculture sector to international trade. These reforms allowed for China’s economy to flourish by opening its economy to the world for the purposes of trade and direct foreign investment. Since the liberalization of the economy, China has become the fourth largest economy with a growth rate of 9.5% over 26 years (Forbes). Its gross domestic product in 2009 was about $4.7 trillion (CIA). The second largest economic emerging country is India. India’s economy is controlled and...

Words: 1267 - Pages: 6

Premium Essay


...economies, Brazil, India, China, Russia, Indonesia, economic growth Future of the BRICs Different options exist for companies to expand their markets globally. For example, companies may choose an exporting strategy, product licensing, or joint ventures. Alternatively, a company’s strategy may involve foreign direct investment (FDI) in another country by building a subsidiary from the ground up in the host country – a greenfield venture – or by acquiring an existing foreign entity. All globalization efforts present some risk. There are risks of encountering trade barriers with an exporting strategy and risk exists for either loss of the investment or lack of control over the foreign enterprises with FDI. For an individual company, there are pros and cons for each of these strategies in a particular country and the strategies have long-term economic, social, and political implications for the nations involved. The resulting interrelationships impact commerce and financial markets worldwide. Some companies and investors focus their global strategies on emerging markets where rapid growth might be anticipated. Convertibility of a selected market’s currency may be a potential problem especially for emerging markets. For example, the Russian ruble was not convertible into U.S. dollars until 2006. In addition, national governments may restrict currency exchanges in order to maintain monetary reserves for debt payments. In emerging markets without convertible currencies...

Words: 353 - Pages: 2

Premium Essay


...Long-Term Outlook for the BRICs and N-11 Post Crisis The BRIC and N-11 countries are emerging from the crisis better than the developed world. As a result, our long-term projections for the BRICs look more, rather than less, likely to be realised. It is now possible that China will become as big as the US by 2027, and the BRICs as big as the G7 by 2032. Within the BRICs and N-11, China, Brazil, India, Indonesia and the Philippines appear to be performing best. Bangladesh, Egypt, Korea, Nigeria, Turkey and Vietnam form a second group of countries that have performed broadly in line with expectations. Iran, Mexico, Pakistan and Russia have need for improvement. We show the ongoing dramatic BRIC influence in key product markets, with autos and crude oil as examples. Important disclosures appear at the back of this document Thanks to Dominic Wilson, Michael Buchanan, Paulo Leme and Swarnali Ahmed for their valuable comments, and to Alex Kelston for the Growth Environment Scores Jim O’Neill and Anna Stupnytska December 4, 2009 Goldman Sachs Global Economics, Commodities and Strategy Research Global Economics Paper Contents Summary Section 1. Where We Stand on the BRICs and N-11 Section 2. The BRICs and N-11 in the Aftermath of the Crisis 2.1 BRICs and N-11 Global Importance Continues to Rise 3 4 6 6 Higher growth contribution Increasing trade shares Rebalancing current accounts Domestic demand and economic resilience 2.2 BRICs Market Performance in Context ...

Words: 13484 - Pages: 54

Free Essay

Bric Report

...Introduction BRIC is used in economics to refer to the combination of Brazil, Russia, India, and China which make up over 42% of the world's population. These nations are going to play a major role in the future of global economy. BRIC or BRICs are terms used in economics to refer to the combination of Brazil, Russia, India, and China. General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Goldman Sachs argues that the economic potential of Brazil, Russia, India, and China is such that they may become among the four most dominant economies by the year 2050. The thesis was proposed by Jim O'Neill, global economist at Goldman Sachs. These countries are forecast to encompass over thirty-nine percent of the world's population. Goldman Sachs predicts China and India, respectively, to be the dominant global suppliers of manufactured goods and services while Brazil and Russia would become similarly dominant as suppliers of raw materials. Cooperation is thus hypothesized to be a logical next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China. Thus, the BRICs have the potential to form a powerful economic bloc to the exclusion of the modern-day G8 status. Brazil is dominant in...

Words: 4264 - Pages: 18

Free Essay

Brics and India

...Brics summit “The aim of brics is to convert their growing economic power into greater geopolitical clout” BRICS is the title of an association of leading emerging economies, arising out of the inclusion of South Africa into the BRIC group in 2010. As of 2012, the group's five members are Brazil, Russia, India, China and South Africa. With the possible exception of Russia, the BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2012, the five BRICS countries represent almost 3 billion people, with a combined nominal GDP of US$13.7 trillion, and an estimated US$4 trillion in combined foreign reserves Presently, India holds the chair of the BRICS group. Due to steady growth in BRICS nations in the recent past their share in global output has grown from 11% in 2005 to 18% in 2010. President of the People's Republic of China Hu Jintao has described the BRICS countries as defenders and promoters of developing countries and a force for world peace. The BRIC grouping's first formal summit commenced in Yekaterinburg on June 16, 2009, with Luiz Inácio Lula da Silva,Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of...

Words: 5135 - Pages: 21

Free Essay

Bric Nations

...In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. It is typically rendered as "the BRICs" or "the BRIC countries" or "the BRIC economies" or alternatively as the "Big Four". The acronym was coined by Jim O'Neill in a 2001 paper entitled "Building Better Global Economic BRICs".[1][2][3] The acronym has come into widespread use as a symbol of the shift in global economic power away from the developed G7 economies towards the developing world. It is estimated that BRIC economies will overtake G7 economies by 2027.[4] According to a paper published in 2005, Mexico and South Korea were the only other countries comparable to the BRICs, but their economies were excluded initially because they were considered already more developed, as they were already members of the OECD.[5] The same creator of the term "BRICS" coined the term MIKT, that includes Mexico and (South) Korea. Several of the more developed of the N-11 countries, in particular Turkey, Mexico, Indonesia and Nigeria, are seen as the most likely contenders to the BRICs. Some other developing countries that have not yet reached the N-11 economic level, such as South Africa, aspire to BRIC status. Economists at the Reuters 2011 Investment Outlook Summit, held on 6–7 December 2010, dismissed the notion of South Africa joining BRIC.[6] Jim O'Neill told the summit that he was constantly...

Words: 1716 - Pages: 7

Premium Essay

Meet the Brics

...The evolution of economy of BRIC is very impressive. They are in the speedy growth of their end user markets. (Experience indicates that consumer demand takes off when Gross National Income per capita reaches levels between $3,000 and $10,000 per year.) From 2000 to 2008, the BRIC countries' combined share of total world economic output rose from 16 to 22 percent. Together, the BRIC countries accounted for 30 percent of the increase in global output during the period. As BRICS observed as emerging market, many investors recognize the potentially attractive return characteristics and diversification benefits of this asset class. However, most pension plans and other institutions currently allocate less than 5% of their overall portfolio to emerging market equities. In Russia there is by now momentous verification of the growth of consumerism throughout the history decade. Parallel trends are observing in China and India, where middle classes growth is very quick. It is anticipated that within a decade, each of BRIC countries will demonstrate higher profits, amplified demand for capital, and stronger state currencies. As a result, overseas firms will desire to observe foremost financial pointers, as Purchasing Power Parity, Gross National Income and Human Development Index, in addition to developments in the cultural, political, and legal environments of those countries The BRIC thesis posits that China and India will become the world's dominant suppliers of manufactured goods...

Words: 1077 - Pages: 5

Premium Essay

Fdi Brics

...Term paper on “FDI in BRICS Countries” Submitted By AMARNADH ILLURI (1223114141) B.V.S.P.CHARAN TEJ (1226114108) SANDESH.SAKA (1226114132) SAIRAJ THAMMINA (1223114139) Submitted To Dr Radha Raghuramapatruni.,PhD Associate Professor in International Business & Economics GITAM School of International Business GITAM University Visakhapatnam -45 Andhra Pradesh FDI in BRICS Countries ABSTRACT: The BRICS continued to be strong performers in attracting foreign direct investment in 2013, almost doubling their share from the pre-crisis level. BRICS now account for over one fifth of global FDI with China gaining the 2nd spot, Russia 3rd and Brazil 7th in the list of top 20 host economies of 2013.The current share of global FDI inflows to BRICS is at 22 per cent which is twice that of their pre-crisis level, according to the UN Conference on Trade and Development (UNCTAD) report. Total inflow to BRICS reached $322 billion in 2013, up 21 per cent from 2012. INTRODUCTION: South Africa outperformed other countries within BRICS, with FDI inflows rising by 126%. With inflows to China at an estimated US$127 billion, including both financial and non-financial sectors – the country again ranked second in the world, closing the gap with the United States to some $32 billion, FDI inflows to the Russian Federation jumped by 83% to US$94 billion making it the world’s third largest recipient of FDI for the first time ever, The rise was predominantly ascribed to the large acquisition by BP (United...

Words: 2226 - Pages: 9

Premium Essay

Assignment on Bric

...Assignment on “Meet the BRIC” Case Study | ITB 301Section: 3Spring 2012Submitted to:Salma AkterLecturerDepartment of Business Administration.East West University, Dhaka.Submitted byArafat Rauf2009-2-10-345Date of Submission: 28th March 2012 | Letter of Transmittal March 28, 2012 Salma Akter, Senior lecturer East West University Subject: Submission of Assignment on “Meet the BRIC” case study Dear Madam, I have prepared an Assignment on “Meet the BRIC” case study. It was an energizing experience throughout the semester and preparing this assignment further enhanced my insight about International Business. I hope that this report fulfils your requirements and your feedback is very much necessary to overcome my faults and lacking. This will help me in my entire life. It is my pleasure to carry out this assignment under your supervision. I would like to request you to accept my report for further assessment and I will be available to answer any question for clarification. Thank you for your sincere support. Yours sincerely, Arafat Rauf 2009-2-10-345 Table of contents Title | Page number | - BRIC | 4 | Economic growth of BRIC | 7 | Question 1: Map the proposed sequence of the evolution of the economy of the BRIC’s. What indicators might companies monitor to guide their investments and organize their local market operations? | 8 | Question 2: What are the implications of the emergence of the BRICs for careers and companies in your country? | 8...

Words: 2774 - Pages: 12

Free Essay

Brics Countries

...TABLE OF CONTENTS Definition of BRICS 2 A Brief History 2 BRICS Goals 3 First Declaration – Information Technology 3 Second Declaration – Industry Cooperation 4 Third Declaration – Agriculture 3 Reasons for Emergence of BRICS 5 Review of Economic Performance 6 Other Current Issues 7 References 9 Appendix 10 (BRICS Economic Data Table) _ DEFINITON OF BRICS A Brief History In 2001, Jim O’Neil – an economist at Goldman Sachs – first coined the term BRIC and ever since then it stood as an acronym for Brazil, Russia, India and China. At the time, O’Neil was trying to predict where Wall Street investors could place their investment dollars. In their search for future high growth and therefore high profits within a span of one to two decades, O’Neil came up with recommending the BRIC countries as potentially good nations where to park investment dollars. In that same year, he went on to predict that over the first decade of the twenty first century, the economies of those BRIC countries would increase in a very significant way; so much so, that it would “outpace growth of some of the world’s largest economies” (Sharma, 2012). In 2015 his prediction is presently valid, but mostly for China, which has achieved impressive economic growth in the last few years, and for India, which despite its ambivalent economic performance and socialistic labor tendencies, it has managed to post some notable levels of economic...

Words: 3555 - Pages: 15

Free Essay

Brics: the Vanguard of the Revolution

...Case Study The BRICs: Vanguard of The Revolution The BRICs, composed of Brazil, Russia, India, and China, are the future of the world’s most powerful economies and the current most accelerated emerging economies. Together they are home to nearly 2.8 billion people, about 40 percent of the planet’s population. They currently generate about 30 percent of world’s GDP. They have come a long way from the last 30 years or so, each one overcoming their own barriers and obstacles to achieve where they are today. They are all expecting to increase their income within the next 15-30 years exponentially, allowing for the economy to flourish and incorporate new markets that were otherwise less popular or almost non-existent. For example, cars in India and China were about 2 and 9 out of 100 people, respectively. They estimate that the total number of cars in both countries could rise from 150 million today to north of a billion by 2030. Not everything is positive however, there are skeptics who say there are problems such as the delusion that current trends will continue indefinitely and uninterrupted. That economic growth rates slow as the base of activity expands and advantages such as cheap labor or low-cost capital wane as growing demand increases marginal price pressures. That there’s always a black swan event, an unexpected, hard-to-predict impact that resets the game such as the internet, the collapse of the Soviet Union or the global financial crisis. Despite ever-present...

Words: 1322 - Pages: 6

Premium Essay

Bric Countries Research

...Impact of Foreign Direct Investments in BRICK Economies Student name Institution Course Professor Date Impact of Foreign Direct Investments in BRICK Economies The BRICK countries have been attracting huge foreign direct investments in the recent past due to the peculiar nature of their economies. They are seen as emerging markets with huge economical growth and development that is experienced in any other economies. The major characteristics of the countries are the enormous consumer market comprising of large middle-income citizens and huge natural resources endowment. They also have sound financial institutions, excellent, efficient and modern communication, and transport and energy sectors. In addition, the economies have sound legal systems (Narayanamurthy Vijayakumar, 2010). According to (Khan, 2011) FDI is not only the financial component but covers other areas such as technology management, capital and market access. in their research (Philip, 2010) they found out that 1 percent of FDI in these countries resulted to about 0.07 percent increment in the countries’ GDP. The main impact of the FDI to the BRICK economies is as discussed below The investments received form foreign investors facilitate the country to venture into the global market. This is especially because the multinationals investing within these BRICK countries is able to produce goods in large scales for the global markets. This therefore enhances the countries to take advantage...

Words: 833 - Pages: 4