The BRICS Nations in International Business Research Paper

The BRICS Nations in International Business - Research study ExampleThe paper tells that the emergence and importance of the BRICS in international business is a reality that for days had been underestimated. The BRICS nations have important roles to play in international business as players and partners. It is, however, paramount that we first commiserate the term BRICS, before we can give a detailed description of each countrys economy. The word BRICS is an acronym for the worlds largest and strongest emerging economies. These countries are Brazil, Russia, India, China, and South Africa. They are now considered as substantial as other global players are and have consequently shifted economic status, from developing to emerging economies. This is because of the quick and exponential growth that is witnessed in these economies, with statistics indicating that their contribution to the growth of the worlds Gross Domestic harvest-feast (GDP) being very significant. In the past dec ade, the BRICS contributed to more than half of the worlds growth in GDP. The population of these economies has also been singled out as a unique feature. These economies alone constitute half, or a slim under half, of the worlds population. Analysts have however pointed to the fact that these economies rarely have anything in common. Their demographic compositions, governance styles, and type of economies, are all different. They may have one or ii similarities in their economies but have very little in common. This is the beauty that has been associated with these economies, that despite having very little to share, they each have independently affected global business in ways that are not only noticeable but also strongly profound and significant. These impacts to international business include change magnitude trade levels, increased funding of development or development financing, and donor funding, earlier only a preserve of the western countries. Having looked at the econo mies forming the BRICS in general, let us now examine them individually.