The Rise of the Bric Economies
Question 1: BRIC economies – a critical overview
Part 1: New emerging markets and BRIC.
Over the last decade there have been significant changes to the world economy and the way once traditional Multinational corporations do business. This has been primarily due to the rise of new markets, particularly the BRIC economies. “The greatest effect of globalization is the shifting of the world 's wealth centers. Former developing countries are rapidly becoming richer through their use of natural resources, labour forces, and industrialization. An essay published by Goldman Sachs identified the core leaders in this category as Brazil, Russia, India, and China, and subsequently coined the term BRICs. Europe soon realized the vital necessity of building bridges with these emerging economic powers. Portugal saw an opportunity to utilize its historic and cultural ties with Brazil to bolster a strategic partnership with the EU.” (Building Bridges to the BRICs, Africa on the Agenda. Foreign Affairs, 00157120, Mar/Apr2008, Vol. 87, Issue 2). New emerging markets like Thailand, the Czech Republic, and Poland along with many others are now a source for potentially attractive investments. CEO, Cordiant Capital Inc., David. G. Creighton said “While we have seen many countries develop fairly quickly over the last fifteen years, including the Czech Republic, Poland, Thailand and Mexico, there are a number of others that, for a variety of reasons, are lagging behind. We continue to find attractive opportunities in Russia and Latin America and are now beginning to engage with the next wave of countries in such places as El Salvador, Bulgaria and Kazakhstan. It’s all about finding the right risk/return profile.” (The New Emerging Markets by Benefits Canada, 2007<http://www.benefitscanada.com/pdfs/Reports_TheNewEmergingMarkets.pdf>) New emerging markets, especially the BRIC economies, have been on the rise in terms of industrialization and Gross domestic
Part 1: New emerging markets and BRIC.
Over the last decade there have been significant changes to the world economy and the way once traditional Multinational corporations do business. This has been primarily due to the rise of new markets, particularly the BRIC economies. “The greatest effect of globalization is the shifting of the world 's wealth centers. Former developing countries are rapidly becoming richer through their use of natural resources, labour forces, and industrialization. An essay published by Goldman Sachs identified the core leaders in this category as Brazil, Russia, India, and China, and subsequently coined the term BRICs. Europe soon realized the vital necessity of building bridges with these emerging economic powers. Portugal saw an opportunity to utilize its historic and cultural ties with Brazil to bolster a strategic partnership with the EU.” (Building Bridges to the BRICs, Africa on the Agenda. Foreign Affairs, 00157120, Mar/Apr2008, Vol. 87, Issue 2). New emerging markets like Thailand, the Czech Republic, and Poland along with many others are now a source for potentially attractive investments. CEO, Cordiant Capital Inc., David. G. Creighton said “While we have seen many countries develop fairly quickly over the last fifteen years, including the Czech Republic, Poland, Thailand and Mexico, there are a number of others that, for a variety of reasons, are lagging behind. We continue to find attractive opportunities in Russia and Latin America and are now beginning to engage with the next wave of countries in such places as El Salvador, Bulgaria and Kazakhstan. It’s all about finding the right risk/return profile.” (The New Emerging Markets by Benefits Canada, 2007<http://www.benefitscanada.com/pdfs/Reports_TheNewEmergingMarkets.pdf>) New emerging markets, especially the BRIC economies, have been on the rise in terms of industrialization and Gross domestic
References: Cohan .P , Rangan U.S. (2006), Follow the Legend :Seven Strategy lessons from top entrepreneurs Khanna.T. , Palepu . K.G., Sinha.J. (2005) Strategies that Fit emerging Markets Khanna.T., Palepu. K. (1997), Why Focussed Strategies May Be Wrong For Emerging Markets. World View : Global Strategies for the new economy Harvard University Press (2000) Rediff news, March 17th 2005, Viewed 21st April, 2008 Available from http://www.rediff.com/money/2005/mar/17mittal.htm Harvard University Press, USA (2000) Vol. 26 Issue 2, p37-43, 7p Harvard University Press, 2005 Wilson. D., Purushothaman (2003) Dreaming With the BRIC Wind .Y. , Douglas .S.P. , Perlmutter, H.V. (1973) Guidelines for Developing International Marketing Strategies