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Handbook on the Geopolitics of Business

Handbook on the Geopolitics of Business

Elgar original reference

Edited by Joseph Mark S. Munoz

In recent years, rapid globalization, novel technologies and business models, as well as economic and political changes have transformed the international business landscape. This pioneering volume offers a comprehensive discussion of the new global terrain and makes a strong case for the consideration of geopolitics in both the study and practice of modern-day business.

Chapter 17: The economic powerhouse of Brazil, Russia, India and China: is continued growth sustainable?

Biljana Nikolova and Ramaprasad Bhar

Subjects: business and management, international business


Following the Asian and Russian financial markets crisis in the late 1990s, Brazil, Russia, India and China (BRIC) have emerged among the largest countries in the world in both demographic and economic terms. They are of high geopolitical significance. The BRIC nations represent over40 percent of the world’s population, they have seen their share in global GDP rise from 15 percent in 1995 to more than 24 percent in 2010, and they attract more than 50 percent of the total emerging markets external capital flows. While the common characteristic of the BRICs are rapid economic growth, transitional character (economic, political, social and demographic) and capital markets at early stages of development, each of these countries is unique in its own right and has a financial system that has been shaped by country-specific past events of a financial, political and regulatory nature. According to the IMF, by 2014, BRIC will be responsible for 61 percent of global economic growth. In financial terms, the BRIC countries dominate the emerging market economies of today and as such the weight of the BRICs in international investment portfolios has been on the rise in the past decade. However the continued growth of these economies does not come without its challenges. The BRIC’s economic and social problems, increasing energy consumption, as well as their geopolitical relations, might pose a significant impediment to their continued economic growth.

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