Question

1. What are some challenges of the BRICS in becoming part of the fully developed world? How does geography influence their development?

Answer 1

BRICS nations face different challenges that inhibit them from becoming the part of the fully developed world. The first challenge is that economy is still evolving and regulatory reforms are in the mid way. It makes them to remain as developing nations and put more efforts on development. The second challenge is the presence of a large population under the poverty line. It creates income inequality and disparity in resource allocations. It becomes a hindrance from becoming fully developed nations. The third challenge is the lack of full political stability and its commitment towards the reforms. The governments are formed on the basis of popular promises of public welfare and these welfare become the distraction from getting reforms and infrastructure development and it delays the process of being part of the fully developed world.

Geography also influences the development as it affects the output level, resource availability and reliance on others. A tropical weather conditions, unattractive market conditions,  poor crop productivity, borders for infiltration and poor technological development in the country makes it difficult to attain a fully developed country.