MGMT8110 - Global Perspectives

Introduction
BRICS- Brazil, Russia, India, China, and South
Africa
The term was first coined in 2001 by Jim O’
Neil (chief economist of Goldman Sachs)
A political dialogue between the big four 4
nations was organized in the year 2006 which
later culminated into the group BRIC.

Why are we studying BRICS
• The BRICS nations has the wide range of benefits over the other nations like the
bulk manufacturing, high end technology, abundant and cheap labor force, skilled
manpower, rich natural resources, huge domestic market.
• Major sectors that are promising in the BRICS nations include the real estate sector,
pharmaceutical sector, oil and energy sector, telecom sector, automobile sector,
retail sector, IT sector (Desai 2013).

Thesis statement of the study
The study will emphasize and analyze the economy of the BRICS nation (Brazil, Russia, India, China,
and South Africa) and the whether the economic conditions of the BRICS nations will be able to
surpass the economic power of the other seven strongest nations by the middle of the 21st century.

Combined strength of BRICS Nation

Economic performance of BRICS Nation

BRICS nations changing the emerging global trends

Projected performance of BRICS Nations

Comparison of BRICS with G7 countries

Drivers of growth BRICS nations

Conclusion
From the study, it can be concluded that the BRICS nations in
comparison to the other developed nations and emerging nations has
better indicators that can sustain their present status of growth. The
predictions from several organizations have shown that the BRICS
although lags behind the G7 countries in the present scenario, but has
the capability of moving past G7 countries within the three decades. The
growth factors, along with the emerging markets, and prospectus foreign
investment will steer the growth and will contribute majorly to the world
economy.

Reference
Desai, R., 2013. The Brics are building a challenge to western economic supremacy. The
Guardian, 2.
Esri.go.jp, 2018. Comparative Analysis of the BRIC. [online] Esri.go.jp. Available at:
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ged-project.de, 2018. Globalization Report 2018: What about the BRICS countries? - GED Blog.
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of-economic-globalisation/globalization-report-2018-what-about-the-brics-countries/?cn-
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ineteconomics.org, 2018. BRICS to Play a Leading Role in Driving Future Global Economic Growth.
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https://www.ineteconomics.org/perspectives/blog/brics-to-play-a-leading-role-in-driving-future-
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News.cgtn.com, 2018. Decoding BRICS: How do BRICS and the G7 match up?. [online]
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https://news.cgtn.com/news/3d3d674d3367544f78457a6333566d54/share_p.html [Accessed 6
Nov. 2018].
Radulescu, I.G., Panait, M. and Voica, C., 2014. BRICS countries challenge to the world economy
new trends. Procedia Economics and Finance, 8, pp.605-613.
weforum.org, 2018. The next ten years of BRICS - will the relationship last?. [online] World
Economic Forum. Available at: https://www.weforum.org/agenda/2017/10/brics-first-next-ten-
years/ [Accessed 6 Nov. 2018].