The BRICS (Brazil, Russia, India, China, and South Africa) nations are increasin
ID: 1169560 • Letter: T
Question
The BRICS (Brazil, Russia, India, China, and South Africa) nations are increasingly important in international business. Provide a comprehensive description of the economy of each of these nations and identify reasons why the BRICS countries are growing in importance on the international stage. Also, describe the internal and external forces that may influence organizational success as it relates to these countries. Finally, discuss the importance of the Saint Leo University core value of responsible stewardship relative to international business and the rise of these economies.
Explanation / Answer
BRICS nations are group of emerging nations with large economies. We will talk about individual nations within this group
Brazil: This south american nation has huge natural reserves and the great amazon jungle which is largest in world,. Brazil is one of the dynamic economies of south america. It has major mineral companies and oil exploration is also a big part of its economy. Brazil is well developed on many fronts like infrastructure, Energy security etc.
Russia: Russia is one of the largest nations in the world. It has huge natural resources and their government depend on export of oil for major chunk of revenues. Russia is also among the most technologically advanced country with great technologies in warfare and mining. Russian engineers are only next to americans in developing space technology and avionics. Today Russia is an emerging nation with respectable growth rate and good standard of living.
India: India is most important country in this group, It has good banking system and its potential of growth is not yet fully realised. There are 1000's of small cities in India which are still growing at high growth rate. The average growth rate is 7% PA even in recession period, India certainly has strength. It is blessed with one of the best river systems in world and it has great agricultural production capability, India also has one of the greatest railways in the world which ofcourse is largest employer in the country.
China: China has great economic growth and has uplifted millions from poverty, Shanghai has almost 3000 sky scrappers which is much more than any city in world. Its economic growth is a miracle in its own right. Its infrastructure growth was mind blowing. China acheived all this growth in just 3 decades, It took almost 100 years for other nations to reach this level. China can now be removed from BRICS as it is already a developed nation. China is in its own league with no parallel in world
South Africa: It is gateway to africa, It is no more dark continent. South Africa is jewel of Africa and has major cities which rival any global city. It has major companies doing business all over africa and has huge natural resources including gold and dimonds. South Africa GDP is very high
Saint leo university is catholic university which is determined to help these countires with advises that may help them to understand international business.
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