BRIC nations
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  • 1. The Future of the World BRIC Nations
  • 2. Intro
    • BRIC or BRICs are terms used in economics to refer to the combination of Brazil, Russia, India, and China.
    • The term was first prominently used in a thesis of the Goldman Sachs investment bank.
    • These countries encompass over twenty-five percent of the world's land coverage, forty percent of the world's population and hold a combined GDP (PPP) of 15.435 trillion dollars.
  • 3. Intro
    • On almost every scale, they would be the largest entity on the global stage.
    • These four countries are among the biggest and fastest growing Emerging Markets.
    • These countries are not a political alliance, like the European Union, or a formal trading association, but they have the potential to form a powerful economic bloc
  • 4. Painting BRIC by numbers
  • 5. Raw material To Manufactured goods INDIA And CHINA
  • 6. CUSTOM UNION Non member country
  • 7. The Case
    • As per the laws of the custom union, if the countries indulge in a custom union they have a free trade area with common external tariffs.
    • Here china and India being amongst the biggest producers of goods and services lack in natural resources.
    • Brazil and Russia are the 2 countries which have plentyof natural resources like iron ore and oil. But they lack in factors of production.
  • 8. Advantages
    • Higher trading capacity
    • Fuller utilization of resources
    • Full use of the factors of production
    • More and more employment
    • Control over inflation
    • Increase in GDP
    • Overall growth
  • 9. The 3 Flaws
    • Highly populous countries must integrate their poor and ill-educated underclass.
    • China and Russia have financial systems that lack transparency, while Brazil and India are financially underdeveloped.
    • Russia is already facing massive demographic decline and an ageing and sickening population.
  • 10. BRIC in 2050