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This 7 page paper discusses predictions that BRIC countries (Brazil, Russia, India and China) will be the most powerful economies in the world by 2050, and what this means for international managers. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: KV32_HVBRICct.rtf
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Unformatted sample text from the term paper:
This paper discusses economic trends in these countries and how they could impact the worlds cultures; it also touches on what international managers might expect in this new world. Discussion
The investment concern Goldman Sachs prepared a report on the BRIC countries and what they see as happening from now until the year 2050. Their predictions are startling. In particular,
they feel that the growth in the BRIC countries could be so enormous that they would pass most of the rest of the world, including the United States (Wilson and
Purushothaman, 2003). Although today they are worth "less than 15%" of the G6, in "less than 40 years," the economics of these four countries "could be larger than the G6
in U.S. dollar terms" (Wilson and Purushothaman, 2003). In terms of dollars, this means that "China could overtake Germany in the next four years, Japan by 2015 and the
U.S. by 2039" (Wilson and Purushothaman, 2003). The Indian economy could pass everyone but China and the United States in 30 years (Wilson and Purushothaman, 2003). Russia is forecast to
pass Italy, the U.K. Germany and France (Wilson and Purushothaman, 2003). By 2050, its likely that only the U.S. and Japan of the current G6 (a group that comprises the
U.S., Japan, the U.K., Italy, France and Germany) will be among the worlds six largest economies (Wilson and Purushothaman, 2003). Of the BRIC countries, India is poised to grow
the most rapidly: "Growth could be higher than 5% over the next 30 years and close to 5% as late as 2050 if development proceeds" (Wilson and Purushothaman, 2003). India,
if it sustains this growth, will be unusual, because most countries growth slows over time; the other countries will probably drop to under 3% (Wilson and Purushothaman, 2003). The
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