The relationship between Greece and emerging BRICs

Shunya Asano

              What is the specific relationship between the Greek economy and the emerging BRICs’ economy? Why do people need to focus on their powers of BRICs in order to evaluate the corruption of Greece?

              In the global economy, it is crucial to consider about the influence of BRICs. Specifically, India which is represented by BRICs has been developing rapidly and overwhelmingly with their high rate of gross domestic products (GDP). The current Indian economy increased their GDP about 1.3 trillion dollars, and their GDP per capita is 1,031.7 dollars. Furthermore, the most crucial point of India is their GDP real rate which is approximately 10.4 % per year, and this numbered 5th in the world. Comparing this statistic and the improvement of the Greek economy, it can be observed that the fundamental elements which threaten the empowerment of developed countries are the domestic economy that BRICs have.

The Indian economy is supported by Bangalore, which is one of the most robust and industrialized districts. Bangalore comprises over 9.5 million people lives in the district, and the place is called the “Silicon Valley of India,” (Ahmed) which indicates how that place is globally well known. Infrastructure and transportation technology are constructed within Bangalore, and this environment supports prosperity efficiently. 20% of Indian software industries are gathered because each one of them seeks the integration and cooperation of IT development (Keizai report). This efficiency dramatically improves the country’s mass productions and consumptions accelerated by the exploitation of IT development. In addition, since the country is largely depending on tertiary industry, that economic formation will create and be able to increase the trading within the nation which also supports the Indian GDP.

On the other hand, the Greek economy is in affliction by debt approximately 120% of their GDP growth rate and stagnation. The country will confront deflation spiral since the domestic economy is stagnated.

Although it seems hopeless to compete against BRICs’ nations by consumption, the growth of GDP, and market shares, the global society is always changing its forms. For instance, the Greek economy does not have to depend on their national consumption. They also can rely on international market. Growing the number of people in BRICs can indicate that developed nations can make profits from their consumption by international trading. It is also crucial to realize that this international movement is not so miserable that people are thinking.

 

 

 

 

 

 

 

Works Cited

 

Ikegami, Akira. Ikegami akira no manaberu news. Tokyo: Kairyusha, 2010. Print.

 

Odawara, Ken. Jijiryoku hattenhen. Tokyo: Riburu teku, 2011. Print.

 

Aftab, Ahmed and Mukhopadhyay Bhaswati. “Domtar buys diaper company to escape paper volatility.” Yahoo News. 15 Aug. 2011. Web. 20 Aug.

 

“Keizai report.” Asian energy. 2011. Web. 30 Oct. 2011.