Bric Essay

2494 Words Jun 3rd, 2012 10 Pages
BRIC is an acronym standing for Brazil, Russia, India and China. Although can be categorized by importance of countries, it would be CIRB which is China, India, Russia and Brazil. The BRIC are both the fastest growing and largest emerging markets economies. These four countries encompass more than quarter of the world’s land area and in 2009 accounted for more than 40% of world’s population, 40% of the world’s foreign exchange reserves and 25% of world’s GDP.
The states, which were earlier, accepted to consider as developing countries of Third world, promptly become economic giants of the new world. BRIC: Brazil, Russia, India and China – four markets everyone with the unique features, but thus unites them the potential generated by
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Before financial and economic crisis growth of gross domestic product of these states reached from 5 to 13 percent a year - for industrially developed national economy of the world size in recent years unattainable. Members BRIC are characterized as most quickly developing large countries. The advantageous position to these countries provides existence in them a large number of important resources for world economy:
− Brazil - is rich with agricultural production
− Russia - the world's largest exporter of mineral resources
− India - cheap intellectual resources
− China - the owner of a cheap manpower
These are the main resources on which economy of these countries leans. High population of the countries causes low cost of work in them and, respectively high rates of economic growth.
The thesis BRIC assumed that Brazil, Russia, India and China changed the political systems to capture global capitalism. Goldman Sachs foretold that China and India would be dominating global suppliers of the goods of industrial function and services while Brazil and Russia became also dominating suppliers of raw materials. Cooperation was, thus, probable - as logic step BRIC because Brazil and Russia together logically formed suppliers of India and China. Thus, at BRIC there was a potential to create the strong economic block - like the "G8" states. Brazil is a soya dominating in production and iron ore while Russia has huge supply of oil and natural gas. The thesis, thus,

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