The Impact of Globalisation on BRIC Economises Literature review - 1

The Impact of Globalisation on BRIC Economises - Literature review Example Therefore, BRIC is expected to bring forth changes in the list of the greatest world economies in the near future. On the other hand, BRIC economies are not similar, though they are in the investment classification, whereby others having political and economic alliances, which are from the groups. Nevertheless, among these countries, China has made significant achievement, thereby making them eliminate the need for alliances. BRIC has made a significant effort in conversion of the growing economic influence into a political power, through summits comprising of analysts (The State University of New York, 2011, 1). In this case, the analyst work together in the BRIC countries in order to establish a future economic partnersip in these countries, whereby China will dominate in manufactured goods, provision of services is dominated by India while the field of material supply is dominated by Russia and Brazil (EconomyWatch, 2010, 1). Globalisation has been attributed to the acceleration of international economic integration, which has been unexpected in numerous ways. However, there are expectations that this might contribute to the vulnerability of workers in BRIC economies. There are resenting developments in the world concerning the increased importance of emerging economies, for instance, China has become a large exporter, whereby it has raised its reputation in international production networks entailing off shore business. Therefore, globalisation has enabled these countries to work together in order to counter well-established interests and organizational structures. The relationship between America and Europe has been substantial in facilitating the developments between the BRIC countries. Globalization in BRIC countries that are attributed to integration with the inputs, finished goods and services, which are underscored by increased business transactions in the world trade. In fact, the ratio of trade-to –trade GDP and the shares of