Bric Case Study

Understanding BRIC Importance to International Business

Chris Laney

Saint Leo University

International business is the lifeline for many organizations throughout the world. Countries that provide open trade without a significant amount of regulations can give a country’s economy a boost. BRIC represents five key countries that have become significant players in international business. BRIC represents Brazil, Russia, India, and China. According to economywatch.com, BRIC is very important because it represents the fastest growing emerging markets in the world. (Economy Watch. 2010.) There are over three billion people represented in BRIC countries that make up nearly half of the world’s total population. Many economists have already predicted China becoming the biggest economy in the world by 2030. By 2012, BRIC already represented some of the highest economic growth among countries in the world.

(http://blog.merit.unu.edu/the-brics-summit-innovative-china-and-the-others/)

Each country represents their own economic growth and GDP drivers. Brazil saw a huge economic crisis hit around 2007 by was quick to recover. Brazil was able to improve their economics through international partners, reduced debt, controlled inflation rates, and ultimately being fiscally responsible. (Economy Watch. 2010) While Brazil makes up one of the most important economical climates in the world, Brazil has recently seen a dip in success. According to economist.com, Brazil’s unemployment is up and wages are down by 3%, prices are increasing significantly while sales are decreasing, and the central bank’s rates increased interest by half of percent to 13.25%. (Paulo. 2015.) In addition, to the previously mention indicators driving a downward spiral in economic confidence, a report on April 30th showed Brazil only put aside $79 Million to pay creditors instead of an estimated $5 Billion. (Economist. 2015.) While Brazil faces current economic challenges, they still lead the world in...