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BRIC Nation Notes. BRIC Nations . BRIC stands for Brazil , Russia , India and China Brazil Russia, India and China have undergone huge economic reforms that stimulated their economies and made them major economic powers in the global economy.
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BRIC Nations BRIC stands for Brazil, Russia, India and China • Brazil Russia, India and China have undergone huge economicreforms that stimulated their economies and made them major economic powers in the global economy. • The reforms have also challenged political and social systems by increasing the standard of living for some of their citizens, created new labor markets and demands, dealt with issues, such as poverty and urbanization (moving to the city), and negatively increasing the rates of environmental damage and resource use.
BRAZIL Political Since 1980, Brazil has struggled with political corruption but has changed its political policies to become more democratic. Socialist or populist leaders have attempted to prioritize the needs of the people by increasing government involvement and services. Economic Since 1980, Brazil has struggled with economic stability; the government moved to privatize traditionally state owned industries, remove restrictions on free enterprise and liberalize trade but none of these measures has brought consistent economic stability. Many efforts to increase free trade and market systems have led to financial turmoil and instability, particularly in response to global market changes. Environmental Since 1980, Brazil has increased its efforts to protect the environment, but limited funding has hampered effective implementation. Global concern over the Brazilian rainforest has put pressure on Brazil to improve environmental efforts.
Russia Political The break up of the Soviet Union signaled the end of a firm commitment to communism and the beginning of democratic reforms. Although some reforms, such as elections, have signaled democratic progress, Russian rulers continue to use an authoritarian style of government. Economic In the last fifty years, Russia has struggled to change its economic system from a command economy to a market economy with mixed success. Many industries were privatized, but are now owned by a few, extremely wealthy men. As less government intervention caused economic insecurity and turmoil, the government has stepped back in to control leading industries, such as oil and natural gas. Environmental In the last fifty years, Russia has a history of massive environmental problems and lack of enforcement of environmental protection laws. Concerns about the economy and protection of private and state owned industry have taken precedence.
India Political In the last fifty years, India has suffered from political turmoil, including war, separatists movements, extremism, political assassinations, and political scandals, in the midst of trying maintain a democracy. Economic In the last fifty years, India has changed its economic policies to support growth in industry, technology, and research and development. It’s annual growth rate has been relatively steady but, due to population pressures, has many social challenges that limit prosperity for all its people. Environmental India has changed its policies to improve environmental protection; however, the new policies have had mixed success. Air and water pollution, particularly in urban (city) areas are a significant concern.
China Political China changed its political relationship with foreign governments from one of isolationism to one which restored diplomatic relations with foreign governments. As economic integration with the world increased, domestic calls for greater democratization have increased as well. The communist government has not supported increasing democracy and continues to limit government criticism. Economic China changed its economic policies from a strictly command economy to a more open economy in the mid 1970s.It has gradually expanded areas of free trade in which private ownership is allowed. Today, China’s economy is seen as having immense potential for growth. Environmental China has changed its environmental policies from denial to acknowledgement of the problem but with limited impact on improving it. Efforts to speed industrialization and modernization have led to a disregard for environmental impacts. Airand waterpollution are significant concerns in urban areas.
