Compare the economies of Russia and India. Both are known as “emerging markets.” Both have been...

Compare the economies of Russia and India. Both are known as “emerging markets.” Both have been emerging for a long time. This is an opportunity to see emerging markets in an objective manner. Identify the two greatest strengths and the two greatest weaknesses of each country’s economy. Give detail. Show that you can analyze a business problem. Discuss the future prospects of each country as a business manager would evaluate them. How fast will their GDP’s grow? What percentage of people will live in poverty five years from now? In what business areas will they be regarded as leader? Avoid personal opinion. It is not enough to like a country. Be able to back up your analysis with facts.

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The rise of Russia and India will shape global resource use, the location of market demand and international institutions and interdependencies in the decade to come. In this paper we argue that an understanding of the historical and institutional context of the BRICs, and the potential shift towards a multi‐polar world is important for developing curricula and content in international business courses in the future. Implications for international business theory and teaching are discussed.

The present looks promising for emerging market economies, but the future seems even brighter. The projections for long-term growth, based on demographic trends and models of capital accumulation and productivity, tell us that emerging markets are likely to become even weightier in the world economy tomorrow than they are today. Of course, projections at very distant horizons are somewhat speculative, but they do offer an insight into possible secular developments.

Rahul Sunny answered 1 year ago

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