1. Mohammad Sabuz Class: Managing in a Global Economy
BRICS
BRICS, originally known as BRIC included Brazil, Russia, India, and China. In 2010 South
Africa was brought in and BRIC became BRICS. These nations represent 1/4 of the world1,
almost 3 billion people and a combined nominal GDP of $16.039 trillion and an estimated $4
trillion in foreign reserves as of 20132.
As a result of BRICS forum encouraging business and entrepreneurship, commercial,
competition, science and technology, innovation, and cultural cooperation between the BRICS
nation3 along with many others, these five nations are developing and are becoming very
industrialized. BRICS has a network of academic units, entrepreneurs, innovators, business and
investors who are all within the BRICS nations. They allow a member from each state to
collaborate and tackle focus areas with another member to enhance recourses while leveraging
growth. These nations, each with distinctive economy, cultures, and languages allows them
combine and analyses data of individual countries to plan and produce relevant results4 that
benefits all of the BRICS countries.
1
https://www.youtube.com/watch?v=IBBCa7P4d1o
2
http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/weorept.aspx?pr.x=91&pr.y=5&sy=2011&ey=2018&
scsm=1&ssd=1&sort=country&ds=.&br=1&c=223%2C924%2C922%2C199%2C534&s=NGDPD%2CNGDPDPC%2CPPP
GDP%2CPPPPC&grp=0&a=
3
http://www.bricsforum.org/brics-forum/
4
http://www.bricsforum.org/contact-us/

2. Mohammad Sabuz Class: Managing in a Global Economy
The member countries as a whole take over a very large part of the world but are very
unique on its own. Take population for instance, Brazil is estimated to have about 199.321
million people, which is a 1.3% increase from last record5. China peaks at an estimate of 1.354
billion people, while India at 1.27 billion which is a 2.3% increase. Russia actually dropped .17%
in population to 142.590 million and South Africa at only 51.19 million. Living standards per
capita GDP differ as well. South Africa at 11,3756, while India at only $4,077.0577. China is
$9,844.031, Russia at $$17,884.489, and Brazil at $12,220.904. Even though China and India
have the lowest GDP per capita compared to the other nations, they have the largest market
exposure and have the most opportunity to its immediate markets at a much lower overhead
price. The other nations who are part of the BRICS are able to collaborate with these markets
and tap into a much larger market easily by introducing business collaboration between nations
for growth opportunities.
5
http://www.worldpopulationstatistics.com/brazil-population-2013/
6
http://www.heritage.org/index/country/southafrica
7
http://www.imf.org/external/pubs/ft/weo/2014/01/weodata/weorept.aspx?sy=2013&ey=2013&ssd=1&sort=cou
ntry&ds=.&br=1&pr1.x=16&pr1.y=7&c=512%2C668%2C914%2C672%2C612%2C946%2C614%2C137%2C311%2C96
2%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867
%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%
2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2
C618%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C624%2C449%2C626%2C564%2C628%2C565%2C
228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C6
62%2C453%2C960%2C968%2C423%2C922%2C935%2C714%2C128%2C862%2C611%2C135%2C321%2C716%2C24
3%2C456%2C248%2C722%2C469%2C942%2C253%2C718%2C642%2C724%2C643%2C576%2C939%2C936%2C644
%2C961%2C819%2C813%2C172%2C199%2C132%2C733%2C646%2C184%2C648%2C524%2C915%2C361%2C134%
2C362%2C652%2C364%2C174%2C732%2C328%2C366%2C258%2C734%2C656%2C144%2C654%2C146%2C336%2
C463%2C263%2C528%2C268%2C923%2C532%2C738%2C944%2C578%2C176%2C537%2C534%2C742%2C536%2C
866%2C429%2C369%2C433%2C744%2C178%2C186%2C436%2C925%2C136%2C869%2C343%2C746%2C158%2C9
26%2C439%2C466%2C916%2C112%2C664%2C111%2C826%2C298%2C542%2C927%2C967%2C846%2C443%2C29
9%2C917%2C582%2C544%2C474%2C941%2C754%2C446%2C698%2C666&s=PPPPC&grp=0&a=

3. Mohammad Sabuz Class: Managing in a Global Economy
Overall these nations have emerging economy and will continue to grow. China8 and
India9 are highly anticipated to be one of the superpower nations in the world. Growing nations
such as Turkey and Indonesia are potential candidates to be part of the BRICS organization.
Current BRICS nations, India, Brazil and South Africa want Argentina to be part of the group10,
who had a GDP of $17,554.1211 with only 7.112 unemployment rate. It’s clear that BRICS has a
clear vision for growth and new opportunities as mentioned on their forum and a strong
network to work with and to collaborate with. Ultimately, BRICS nation will continue to grow
and will soon be able to face current superpowers head-to head13.
8
http://www.theguardian.com/commentisfree/2006/jun/15/comment.china
9
http://realtruth.org/articles/434-iasitm.html
10
http://www.clarin.com/politica/India-quiere-Argentina-BRICS-emergentes_0_1131486910.html
11
http://www.tradingeconomics.com/argentina/gdp-per-capita-ppp
12
http://www.tradingeconomics.com/argentina/unemployment-rate
13
http://en.wikipedia.org/wiki/Potential_superpowers