BRIC Countries Essay

Pages: 4 (1613 words)  ·  Bibliography Sources: 4  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

SAMPLE EXCERPT . . .
China has the world's largest number of internet users with penetration forecasted to increase to 70 users per 100 people. Foreign firms or new entrants do not pose a threat to existing internet firms such as Baidu and Alibaba due to government regulations.

Not only is china the leading manufacturer of hardware but sales have also rapidly increased due to economic growth and rise in consumer income. Favorable government policies and corporate demand trigger the rise in software spending mainly in the domestic region. Domestic firms continue to dominate the market but new entries are expected.

Conclusion:

Over the last few years the importance of BRIC countries has increased dramatically with MNCs and local companies interested in substantial growth opportunities that these countries provide. An overwhelming 71% of CEO's said their company planned to do business in at least one of the BRICs countries over the next three years. 78% view china as the most significant market opportunity, followed by India (68%), Russia (48%) and Brazil (46%). China and India are also seen as posing the greatest competitive threat.

The growing telecommunication and technology sector in these countries mean that in future they are likely to play a key role in shaping global economy. They are likely to slowly and gradually overtake the market with China being in the most dominant position. The ten richest countries in future might change drastically in years to come with a shift towards the Asian region. The Asian region could most possibly become the haven for technological development.

References

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Dominic Wilson and Roopa Purushothaman, Dreaming with BRICs, the path to 2050

Insight Brics-Emerging onto the world stage, Marketing Week, vol.30, Feb.2, 2006, pg. 30-31.

The Economics Intelligence Unit (EIU)

Essay on BRIC Countries That You Have Assignment

Wilson, D, (2005), 'The BRICs Have Arrived: A growing New Force…
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https://www.essaytown.com/subjects/paper/b/bric-countries/5292488.