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Preparing for the Next Stage of Growth 

Deepening India’s Integration in the 

World Economy 

by Iana Dreyer




Russia Labor and Employment Law

Are you doing business in Russia? Need help to understand the basics of Russian Labor and Employment Law? This post will provide you with a basic understanding of how to employee staff and operate your business in Russia.



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  BRIC

BRIC is an acronym that refers to the fast growing developing economies of Brazil, Russia, India, and China. The acronym was first coined and prominently used by the bank holding company Goldman Sachs in 2001. Goldman Sachs argued that, since they are developing rapidly, by 2050 the combined economies of the BRICs could eclipse the combined economies of the current richest countries of the world.

 

In 2007 the BRIC nations accounted for about 12% of the world’s GDP, up from 8% in 2000. According to Goldman Sach’s forecasts, the BRIC economies could be half the size of the G-6 by 2025, and surpass them by 2045. Despite all the differences among the BRIC nations and uncertainties regarding the BRIC thesis, these four economies already represent a growing economic power, with potential to convert into world political clout.

 

BRIC countries have large and growing domestic markets and many companies in the BRIC nations are expanding into other developing-world markets. The World Bank Group estimates that south-south corporate investment more than tripled to $47 billion from 1995 to 2003 and it is currently closer to $60 billion.