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Why are the BRIC countries so important? How do  they influence in the global world?

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dg08 | Student, College Freshman | Honors

Posted November 21, 2011 at 7:41 PM via web

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Why are the BRIC countries so important? How do  they influence in the global world?

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

Posted November 21, 2011 at 8:21 PM (Answer #1)

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This is a good question. First, it is best to identify the BRIC countries. They are Brazil, Russia, India and China. They are considered some of the most important countries in the world today and they have considerable clout. This point might seem interesting in light of the fact that the United States is the largest economy, and Japan and Germany are the third and fourth largest economies.

The BRIC countries are of key importance in two ways. They are emerging. This is to say that if any countries will drive the economy in the future, it will be them. The older economies like the United States all have debt problems. Think of what is happening to the EU right now. There is a huge  problem and the Euro as a currency may not survive. In addition, economists say that Japan lost a decade of growth in their economy. The BRIC countries, on the other hand, have a positive future. They have countries with people who will consume.

Second, the BRIC countries are holding onto a lot of money. If there if is debt problem in the older economies, the emerging economies are creditor nations. Just think of what the EU asked China to do two weeks ago. They asked China to bail them out with the Greek debt problem.

In a world where money is usually equated with power, these BRIC countries will have more power in the future.

 

 

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